CHICAGO, IL – Sept. 20, 2023 – GE HealthCare (Nasdaq: GEHC) today released its inaugural Sustainability Report, which describes the steps the Company has taken to establish its stand-alone environmental, social, and governance (ESG) practice and infrastructure, as well as how it has bolstered the foundation put in place prior to its spin-off from GE. The report incorporates findings from GE HealthCare’s existing ESG materiality assessment, which informed the Company’s ESG strategy, and outlines the Company’s long-term ESG objectives and progress against previous goals.
“With a solid foundation from our legacy as part of GE and our journey as a new independent company, we are redefining our focus on sustainability by building on our historical strengths and developing new capabilities for the future,” said GE HealthCare President and CEO Peter J. Arduini. “ESG responsibility is central to our vision and we are embedding these principles into the core of our business and risk management as we seek to create a world where healthcare has no limits.”
Through an ESG materiality assessment conducted prior to the company’s spin-off, GE HealthCare has defined a list of focus areas deemed most relevant by stakeholders for its sustainability strategy. These five focus areas include the following and are underpinned by the Company's longstanding commitments to innovation, product quality, and integrity:
Expanding greater access to healthcare for underserved populations globally
Promoting inclusion and diversity across the enterprise by fostering an inclusive culture in which GE HealthCare colleagues feel empowered to do their best work
Mitigating its climate impact and improving resilience by working to reduce greenhouse gas (GHG) emissions
Advancing the circular economy and environmental design by promoting and enabling the reuse of equipment and parts from deinstalled equipment, and by incorporating environmental considerations at the product design phase
Protecting patient data and cybersecurity by adopting standardized approaches to data privacy and security worldwide, based in large part, on the General Data Protection Regulation (“EU GDPR”) and similar privacy laws
GE HealthCare recognizes sustainability must be a Company priority. The Board oversees management’s establishment and execution of corporate strategy, along with the company’s ESG program and activities, and there is a cross-functional Enterprise Stewardship Program (ESP) that encompasses both ESG and Enterprise Risk Management. GE HealthCare appointed Kelvin Sanborn as the company’s ESG Program Lead who brings deep sustainability experience, having previously led GE HealthCare's Global Environment Team.