Abbott Highlights Strong Performance in Corporate Social Responsibility in 2006 Global Citizenship Report
Report Theme, “Generations,” Reflects Abbott’s Long-Standing Commitment to Improving Lives Through Sustainable Business Practices
Abbott Park, Illinois,— Abbott today released its 2006 Global Citizenship Report, now available online at www.abbott.com/citizenship. The report, which is also available in a shorter printed version, highlights Abbott’s integrated approach to corporate citizenship around the world, and the company’s financial, social and environmental progress and performance.
The report’s theme, “Generations,” reflects Abbott’s contributions to improving lives for more than a century, while strengthening the company and global communities for future generations. The report provides detailed updates on Abbott’s progress and performance in governance and compliance; environment, health and safety; global workforce; social investment and philanthropy; and key issues, such as expanding access to health care.
“Global citizenship is fundamental to earning and deepening the trust of the people we serve – and an integral part of our commitment to improve lives,” said Miles D. White, chairman and chief executive officer, Abbott. “That’s why global citizenship is simply inseparable from our business; it’s a matter of competitive fitness and a business discipline we apply throughout our operations.”
Values-Driven Approach to Business
A critical component to Abbott’s approach to citizenship is the company’s efforts to integrate values-based decision making throughout all levels of the organization, ensuring that current and future generations of employees and leaders make responsible, sustainable decisions. In 2006, Abbott launched a series of workshops that reached more than 11,000 employees around the world, including 900 of the company’s top leaders. These workshops provided employees with specific training in how to integrate Abbott’s values into their work, and also identify opportunities and challenges for how the company can live its values better. For example, employees in Abbott’s international pharmaceutical business developed a plan to integrate the values into their 2007 performance goal-setting process.
Global Ethics and Compliance for Abbott and Suppliers
In 2006, Abbott implemented a global compliance initiative to ensure consistency across all of Abbott’s 59 international affiliates. To account for local cultural and legal differences, in-country committees of Abbott leaders collaborated with regional full-time ethics and compliance staff to develop consistent policies, procedures and communications and training plans. Additionally, in 2006 Abbott updated its supplier code of conduct for international suppliers to communicate the company’s expectations regarding labor practices, ethical behavior, environmental stewardship, and health and safety practices.
Expanding Access to Health Care – A Critical Issue for Many Stakeholders
While Abbott has many stakeholders, the company is, in itself, a stakeholder in many global issues. One of the most pressing issues facing the global community is expanding access to health care for patients in need. As a global health care company, Abbott is focused on working with governments, health care providers, patients, nongovernmental organizations and many other stakeholders to develop solutions to improve affordable access to health care. From expanding investment in the company’s research labs, to increasing patient and provider awareness, to investing in health care systems in developing countries, Abbott’s citizenship report highlights progress in helping to address this critical issue in 2006, including:
* Advancing patient safety by redesigning all pharmaceutical product labels to better highlight critical product information for pharmacists;
* Expanding tiered pricing of Kaletra® (known as Aluvia™ in developing countries) from 69 developing countries to 114 low and low-middle income countries;
* Investing nearly $300 million in grants and product donations from Abbott and Abbott Fund, reaching millions of people worldwide, including providing product donations to support medical missions and other global humanitarian efforts in more than 98 countries; and
* Increasing clinical trials transparency, including registering company-sponsored trials on the publicly available database clinicaltrials.gov .
Continually Improving Environmental Performance
As part of its efforts to protect the environment, Abbott has set five-year performance goals to reduce greenhouse gas emissions, hazardous waste and water usage, and improve workplace safety by 2010. The company is on track to meet these goals, reaching several key milestones in 2006, including:
* Becoming the first company to partner with Environmental Defense on the GreenFleet initiative to measure, reduce and offset greenhouse gas emissions in fleet vehicles, with preliminary data indicating a 4 percent reduction in emissions;
* Implementing a comprehensive plan to manage water use and work with the communities where we operate to improve access to clean water; this includes initiating 30 water conservation projects that will result in annual water reduction of more than 208 million gallons;
* Installing a solar energy system at an Abbott facility in Germany that will reduce emissions by 19 metric tons per year, and developing plans for a solar project at a facility in California; and
* Improving employee safety across the company’s operations, including exceeding the company’s 2010 goal for reducing employee lost workdays by 10 percent three years early.
Nurturing an Inclusive Global Workforce
Long regarded as one of the world’s premier employers, Abbott also reports on key results in providing a diverse and inclusive work environment, including:
* Increasing the number of women in management by 64 percent over the past five years, with female general managers currently heading up 18 Abbott sites around the world;
* Focusing on recruiting female and minority science talent, filling 53 percent of entry-level science positions with women and 28 percent with minorities over the past five years;
* Developing a three-year strategy to support employees across their lifecycle, including addressing the needs of an aging workforce by offering flexible work schedules to encourage mature employees to remain with the company, and by developing programs and methods to institutionalize the accumulated knowledge, experience, relationships and expertise of mature workers within Abbott.
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