Baxter Releases 2024 Corporate Responsibility Report, Underscoring Sustainability, Stakeholder Engagement, and Global Impact
Baxter International,a global leader in medical technology, has published its 2024 Corporate Responsibility Report, reaffirming the company’s dedication to creating a positive social, environmental, and economic impact around the world. This comprehensive annual disclosure highlights progress against Baxter’s 2030 Corporate Responsibility Commitment and Goals—an ambitious framework structured around three guiding pillars: Empower Our Patients, Protect Our Planet, and Champion Our People and Communities.
As the company continues to evolve its business model, reconfigure its operations, and expand its product portfolio, it remains firmly anchored in its mission “to Save and Sustain Lives.” Brent Shafer, Baxter’s Chair and interim Chief Executive Officer, emphasized the enduring relevance of this mission in guiding corporate responsibility efforts, especially during a period of transformation.
“Baxter’s Mission to Save and Sustain Lives inspires our work every day and has remained a guiding force even as we redefined the company’s business, portfolio and operating model in recent years,” said Shafer. “Our mission extends to Baxter’s commitment as a responsible corporation and our aim to make a meaningful difference in the world. I thank Baxter’s 38,000 global employees for continuing to shape who we are as a company and the positive impact we have on the patients, healthcare professionals and communities who rely on us.”
Key Highlights from the 2024 Corporate Responsibility Report
Baxter’s newly published report details progress toward its long-term sustainability and impact goals, focusing on measurable achievements made in 2024 across environmental sustainability, community engagement, product stewardship, and employee well-being.
1. Environmental Sustainability: Accelerating Emissions Reduction and Circular Practices
A cornerstone of Baxter’s corporate responsibility vision is environmental stewardship. In 2024, the company reported a significant 13.5% reduction in Scope 1 and 2 greenhouse gas (GHG) emissions compared to 2023, and an 18.8% decrease from its 2020 baseline. With these reductions, Baxter is now approximately three-quarters of the way toward its 2030 goal of a 25% reduction—aligned with the well-below 2⁰C target defined by climate science.
In addition to reducing emissions, Baxter has taken tangible steps to boost energy efficiency and renewable energy use. Over the past year, the company invested $12 million into 175 energy conservation projects across its global manufacturing network. These initiatives included the installation of four solar power systems and a biomass-fired steam generator, reinforcing the company’s efforts to decarbonize its operations and transition to more sustainable energy sources.
Furthermore, Baxter piloted a circular economy initiative aimed at minimizing waste by reusing and recycling materials within the company’s supply chain. This pilot effort included employee training on circularity principles and identified ways to apply these concepts to manufacturing and packaging. One of the most tangible examples is the production of HR 900 hospital beds in Pluvigner, France, which are manufactured using nearly 37% recycled materials—a demonstration of how sustainability is being embedded into product design and production.
2. Community Impact and Strategic Philanthropy
Baxter continued to channel significant resources into global health equity, STEM education, disaster relief, and local community resilience efforts. In 2024, the company invested $31.5 million to support underserved populations and communities impacted by natural disasters. These funds, contributed by both Baxter and the Baxter International Foundation, were directed through strategic partnerships and in-kind product donations.
Among the year’s major humanitarian efforts was a $4 million emergency response to assist employees and communities affected by Hurricane Helene in the United States. Beyond emergency support, Baxter extended its philanthropic reach to more than 100 countries, deepening collaboration with leading global non-governmental organizations (NGOs) to enhance access to healthcare services, promote science and engineering education, and bolster community health systems.
The Baxter Foundation’s strategic approach to philanthropy emphasizes long-term impact and capacity building. In line with this, the Foundation’s investments supported disaster preparedness, local infrastructure development, and healthcare workforce training.
3. Workplace Safety and Employee Well-being
For the fourth consecutive year, Baxter achieved top-quartile performance in workplace safety based on the Total Recordable Incident Rate (TRIR). This accomplishment reflects the company’s ongoing commitment to maintaining a safe, healthy, and inclusive work environment across its operations.
The report also emphasizes Baxter’s employee engagement efforts, diversity and inclusion initiatives, and its workforce development programs, all of which contribute to a more equitable and supportive organizational culture.
Strengthening Transparency Through Stakeholder Engagement and ESG Reporting
As part of its commitment to continuous improvement and transparency, Baxter conducted a double materiality assessment in 2024—an advanced analytical process designed to evaluate not only the company’s impact on environmental and social systems but also the influence of environmental, social, and governance (ESG) risks on its financial performance.
The assessment provided crucial insights that are now informing the next phase of Baxter’s corporate responsibility strategy. This process is especially significant in light of Baxter’s recent divestiture of its Kidney Care business in January 2025, which has reshaped the company’s operational footprint and impacted its ESG priorities.
An overview of the materiality findings is included in the 2024 report, which also serves as a guidepost for how the company intends to evolve its sustainability and corporate responsibility goals over the coming years.
Baxter’s commitment to transparent reporting is also reflected in the continued inclusion of:
- A Sustainability Accounting Standards Board (SASB) Index, which aligns with the SASB Medical Equipment and Supplies Standard.
- A Task Force on Climate-related Financial Disclosures (TCFD) Index, providing a clear view into the company’s climate-related governance, risks, metrics, and strategy.
These frameworks ensure that stakeholders—from investors and employees to customers and regulators—have consistent and comprehensive access to data on Baxter’s ESG performance.
Baxter’s 2024 Corporate Responsibility Report underscores the company’s enduring commitment to sustainability, social impact, and corporate transparency. As it enters a new chapter following strategic divestitures and business transformation, Baxter is positioning itself to meet future challenges while continuing to deliver on its mission to save and sustain lives.
With a robust set of goals, a culture of accountability, and a deep-rooted sense of purpose, Baxter is not only focused on delivering value to shareholders but also on creating lasting impact for the people, patients, and communities it serves worldwide.
