Sustainability
Sustainability is a strategic priority at Mölnlycke and WeCare is our Sustainability roadmap for 2030. It means creating shared value for all our stakeholders. It is a driver for growth, innovation and productivity and an essential part of our employee value proposition.
Our ambition is to transform our business to become a global leader in sustainable healthcare1.
The WeCare roadmap is developed to create positive impact on the environment, people and economy. Through a materiality assessment, conducted to identify the most significant issues that represent sources of risk and opportunities for us and our stakeholders, we identified our three focus areas:
- Green mindset
- Responsible relationships
- Ethical business
For each of them, we have set ambitious long-term goals to achieve our sustainability targets. Watch the film below to find out more about our sustainability roadmap.
‘I am very proud that Mölnlycke recognises the value that we can deliver through our impact on the planet and society. 2022 saw significant progress in our ongoing sustainability journey, with a commitment to the Science Based Targets initiative to tackle climate change, the launch of an Ethics Hotline that any stakeholder can utilise, and the attainment of our 80% employee engagement index target. WeCare - our integrated sustainability roadmap for 2030, has gained unstoppable momentum.’
Zlatko Rihter, CEO
Our sustainability work takes into account the nature of our business, as well as relevant international conventions, such as the United Nations Framework Convention on Climate Change (UNFCCC), the Paris Agreement and the ten principles of the UN Global Compact, the UN Sustainable Development Goal 13 on climate action, as well as the recommendations from the Task Force on Climate-related Financial Disclosure and the views of our stakeholders.
Materiality analysis
Mölnlycke performs a materiality analysis every second year to identify which issues to prioritise, manage and monitor to create shared value for society, the environment and the economy, as well as identify future challenges and opportunities for the company. In the latest materiality analysis carried out in 2022 various stakeholders, including Mölnlycke’s employees, customers, distributors, suppliers, national sector organisations and students helped to identify 20 material aspects that were of primary importance, and prepared the ground for the company’s WeCare roadmap.
The results showed that topics such as decent safe employment, diversity equity and inclusion, waste and circularity, sustainable innovation and development, and community support gained importance compared to the last materiality analysis in 2020. Other material aspects, such as biodiversity and responsible taxation approach, were found to have a lower significance (see the materiality matrix for details).
In 2023 Mölnlycke started to prepare for the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CS3D) implementation by performing a Double Materiality assessment and consequent gap analysis
evaluation.
Green mindset
At Mölnlycke, we fully support the objectives of the UN’s Paris Agreement on climate change and our commitment is to reach Net Zero by 2050 at the latest, decoupling material use from our growth.
Responsible relationships
As a healthcare business, maintaining strong, mutually-beneficial relationships with all our stakeholders has always been paramount. We care for our customers, patients, and our employees as individuals, our suppliers’ employees – and societal development in general.
Ethical business
We expect all our employees to live up to the commitment to compliant and ethical business. Our ambition is to continuously improve the compliance framework supported by an embedded integrity mindset throughout the organisation.
Mölnlycke’s integrated Annual Report 2023
We are transparent about our impact on environment, people and society. Each year, we report on results and performance in the integrated Annual Report.
Mölnlycke integrated Annual Report 2023 covers the year ending on 31 December 2023. The report has been prepared in accordance with Global Reporting Initiative (GRI) standards, in addition to the Taskforce on Climate related Financial Disclosures (TCFD) framework.
Governance
A robust framework of codes, policies and procedures ensures ethical behaviours throughout our business, in accordance with our strategy. The policies and procedures are defined and owned by the relevant functions, and approved by the Compliance Committee, the Executive Leadership Team and the board.
In 2024 we were awarded a gold medal for Sustainability by EcoVadis, which places Mölnlycke in the top 1% of companies rated by EcoVadis. EcoVadis is a leading solution provider for monitoring sustainability in global supply chains.
Towards a common goal
At Mölnlycke, we support and commit to reputable international initiatives, as climate change is our common challenge. We believe that collaboration is the most effective way to achieve results.
Read more1 By sustainable healthcare we mean a system based on sound environmental, social, and economic approaches that eliminates negative social, environmental, and economic impacts.
