- Issues Annual CSR Report Detailing Actions to Address Company’s Environment, Social, and Governance Work
- Publishes New and Expanded Disclosures and Goals on ESG Performance
- Aims to Donate at Least $50 Million by 2025 to Advance Health Equity
Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, announced today a series of efforts to further advance its environmental, social, and governance (ESG) performance and to reaffirm its commitment to the United Nations’ Sustainable Development Goals. As outlined in the Company’s 2020 Sustainability and Corporate Social Responsibility (CSR) Report, titled “Resilience for a Healthier World” and published today, the Company’s ESG strategy includes enhancing health equity and access to care, expanding ESG disclosures, and taking action to address the climate crisis.
By the end of 2022, Henry Schein plans to report progress in accordance with the standards of each of the Global Reporting Initiative and Sustainability Accounting Standards Board. In addition, the Company is enhancing its disclosures on climate risks and opportunities according to recommendations made by The Financial Stability Board’s Task Force on Climate-Related Financial Disclosures and exploring a pathway to setting a Science-Based Target.
For more than 30 years, Henry Schein has continued to support the five constituents that make up the Company’s Mosaic of Success – Customers, Suppliers, Team Schein Members, Shareholders, and Society at Large. This year’s report, as detailed below, represents another milestone in the Company’s commitment to the Mosaic of Success.
Among other work highlighted in the report, Henry Schein is committed to the following actions for accelerating ESG stewardship:
- Aspiring to be carbon neutral in its supply chain emissions by the year 2050, if not sooner. In 2021, Henry Schein will focus on baselining its distribution and transportation metrics in key markets in North America, Europe, and Australia;
- Aiming to donate at least $50 million in cash and product through Henry Schein Cares and the Henry Schein Cares Foundation, Inc. by 2025 to advance health equity;
- Enhancing in 2021 an individual D&I goal tied to Henry Schein’s annual performance incentive program (i.e., cash bonus plan) for the senior managers in the Company (Directors, Vice Presidents, and Members of the Executive Management Committee);
- Contributing as a member to the World Economic Forum’s Stakeholder Capitalism Metrics initiative, which seeks to improve ways companies measure and demonstrate their performance against ESG indicators and to enable positive contribution towards achieving the United Nations’ Sustainable Development Goals; and
- Committing to an all-electric operations lift truck ﬂeet in its U.S. distribution centers by 2025.
“Even as we tackled the unprecedented challenges created by the pandemic, we continued to accelerate progress along our ESG journey. We deepened our sustainability efforts by formalizing our policies, setting goals and targets for our ESG ambitions, and making steady and measurable progress toward these goals throughout the year,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, Inc. “Our resilience in the face of the current crisis is a testament to the spirit of Team Schein and the strength of our long-term purpose-driven stakeholder model of engagement. We will continue to champion our socially responsible and sustainable approach to business as we do our part in building a healthier, more inclusive, and more prosperous future for all.”
The 2020 Sustainability and CSR report underscores the values instilled at the Company’s founding 89 years ago and highlights how Henry Schein gives back to the professions and communities it serves. The Company is committed to addressing its own environmental impact, engaging with investors in its business practices, providing its TSMs with a healthy, safe, and inclusive workplace, and contributing to health equity.
To learn more about Henry Schein’s ESG efforts and to view the full 2020 Sustainability and CSR report, please visit www.henryschein.com/corporatecitizenship.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 20,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental and medical laboratories, government and institutional health care clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries and territories. The Company's sales reached $10.1 billion in 2020, and have grown at a compound annual rate of approximately 12 percent since Henry Schein became a public company in 1995.