Sustainability report

Our approach

Welcome to Edwards Lifesciences’ 2017 Sustainability report. While acting as a trusted partner in a responsible manner has always been a key element of our company’s focus, Edwards began formally reporting our sustainability progress in 2014. In 2017, we continued to build on our reporting reflecting the recognition of sustainability within our businesses' core strategy—and our belief that sustainability is essential to long-term growth.

Our Credo and Aspirations help us define our annual strategic priorities and objectives. We align our sustainability reporting efforts to our Aspirations, as they represent the relationships and stakeholders that are important to the success of our company as we serve patients fighting cardiovascular disease around the world. Each Aspiration describes a theme that relates to our business environment and our stakeholders. The table below shows alignment between our Aspirations and our sustainability efforts.

In 2015, the United Nations (UN) passed a resolution establishing 17 Sustainable Development Goals (SDGs) with the intent of creating a more sustainable world by 2030. As part of the resolution, the UN identified a formal series of 230 targets and indicators for all nation-states in order to demonstrate progress. In 2017, we conducted a mapping exercise to determine alignment between our sustainability targets and the UN SDGs – this alignment is displayed below.

Our aspirations

met    in progress    not met
Transforming patient lives with breakthrough medical technologies Edwards is driven by a passion to help patients, partnering with clinicians to develop innovative technologies in the areas of structural heart disease and critical care monitoring. We put patients first, working to produce better technologies that enable better outcomes for patients.

Sustainability targets
Conduct Edwards Patient Day event once per year in Irvine and inspire additional Patient Day events in other Edwards regions around the world.
End hunger, achieve food security and improved nutrition and promote sustainable agriculture
Ensure healthy lives and promote well-being for all at all ages
Educate 13,000 clinicians on patient and provider benefits of perioperative and directed therapy to achieve fluid optimization and enhanced surgical recovery by 2017.
End hunger, achieve food security and improved nutrition and promote sustainable agriculture
Connect with top 10 suppliers to provide additional training and patient interactions.
End poverty in all its forms everywhere
Reduce inequality within and among countries
Excelling as a trusted partner through distinguished quality and integrity Edwards conducts business ethically and with integrity, providing the highest level of care and respect for our partners. We are committed to the quality and safety of our products, driving innovation and promoting resource efficiency.

Sustainability targets
Drive continuous improvement efforts to eliminate patient safety-related Class 1 product removals.
Ensure healthy lives and promote well-being for all at all ages
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Conduct leadership training on making ethical decisions in 100 percent of Edwards Lifesciences Leadership Program courses.
Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
Ensure 100 percent of applicable employees certify to understanding and agree to comply with Edwards’ code of conduct on an annual basis.
Reduce inequality within and among countries
Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
Obtain reports on product materials from 80 percent of applicable suppliers by 2018.
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Ensure sustainable consumption and production patterns
Achieve third-party ISO 14001 Certification at 100 percent of global manufacturing facilities by 2018.
Ensure availability and sustainable management of water and sanitation for all
Ensure access to affordable, reliable, sustainable and modern energy for all
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Ensure sustainable consumption and production patterns
Ensure 100% of affected suppliers are conflict mineral free by 2020.
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
Fostering an inclusive culture where all employees grow and thrive Fulfilling our mission to help patients requires a strong, healthy and talented workforce. Edwards recruits top candidates, offers employee wellness and engagement programs and fosters a diverse and inclusive culture to help employees deliver their best.

Sustainability targets
Actively engage all Edwards employees by exposing them to patient stories each year.
Ensure healthy lives and promote well-being for all at all ages
Reduce inequality within and among countries
Offer and encourage participation in health and wellness programs that align with all six Total Wellness pillars at 100 percent of locations with more than 100 employees.
Ensure healthy lives and promote well-being for all at all ages
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Aim to have 100 percent of ELT, SLT and their direct reports complete Leverage Diversity Training by 2018.
Achieve gender equality and empower all women and girls
Reduce inequality within and among countries
Provide a vehicle for employees to engage in sustainability efforts by 2018.
Ensure sustainable consumption and production patterns
Passionate engagement that strengthens our communities Edwards is committed to strengthening the health of our global communities. With patients as our top priority, we work to increase access to our innovative therapies, improve efficiency of healthcare processes, improve awareness of and treatment for life-threatening diseases and provide opportunities for our employees to give back.

 

Sustainability targets
Aim to have to have 100 percent of ELT and SLT participate in at least one philanthropic activity per year.
End poverty in all its forms everywhere
Ensure healthy lives and promote well-being for all at all ages
Increase employee participation in philanthropic activities every year toward our aspiration of 100 percent employee engagement.
Ensure healthy lives and promote well-being for all at all ages
Assess lifecycle impacts on packaging designs and product materials for existing products across all business units by 2018.
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Ensure sustainable consumption and production patterns
By 2020, reduce our environmental footprint according to Edwards’ Environmental, Health and Safety plan.
Ensure availability and sustainable management of water and sanitation for all
Ensure sustainable consumption and production patterns
Energy consumption: 0% change normalized by annual revenue, base year 2015.
Ensure access to affordable, reliable, sustainable and modern energy for all
Water usage: 15% reduction normalized by annual revenue, base year 2015.
Ensure availability and sustainable management of water and sanitation for all
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Hazardous waste disposal: 20% reduction normalized by annual revenue, base year 2015.
Ensure availability and sustainable management of water and sanitation for all
Ensure sustainable consumption and production patterns
Solid waste disposal: 20% reduction normalized by annual revenue, base year 2015.
Ensure sustainable consumption and production patterns
Greenhouse gas emissions: 0% change normalized by annual revenue, base year 2015.
Take urgent action to combat climate change and its impacts*
Complete cost/benefit assessment for alternate and renewable energy opportunities by 2020.
Ensure access to affordable, reliable, sustainable and modern energy for all
Take urgent action to combat climate change and its impacts*
Impact the global burden of heart valve disease by supporting the education, screening and treatment of 1 million underserved people by 2020.
Ensure healthy lives and promote well-being for all at all ages
Reduce inequality within and among countries
Delivering exceptional shareholder value Through all of our sustainability initiatives and delivering on our focused company strategy, Edwards positions our company for long-term profitability that will benefit our stakeholders and also our bottom line.

Sustainability targets
Implement board-level oversight and incorporate sustainability into corporate aspirations by 2017.
Ensure sustainable consumption and production patterns

To guide our strategy and disclosure, in 2015 we established a sustainability council comprised of senior leaders from across the organization. In 2016, we conducted our first materiality assessment, which allowed us to prioritize our management of environmental, social and governance topics. We then set sustainability targets for each of our most material topics, which align naturally with our Aspirations. Our team continues to assess and report progress on our targets annually. In 2017, we developed Governance Maps that show the process used to establish accountability in one overarching, interactive graphic. Our maps illustrate Edwards’ internal responsibility structures for managing our material topics. Each section describes who is involved when we set, execute, and communicate our strategy. We currently have maps for five topics and plan to complete the remaining topics next year:

  • Ethics & Compliance and Corruption & Bribery
  • Product Safety & Quality
  • Edwards Lifesciences Foundation
  • Corporate Governance
  • Environment, Health & Safety

Also in 2017, we transitioned our reporting to the GRI Standards, rather than the GRI G4 Guidelines used last year.