exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
Our commitment 3M believes that good corporate governance
practices serve the long-term interests of our
stakeholders, strengthen 3M’s Board of Directors
and management, and further enhance the public
To ensure 3M’s long-term success, we’re committed trust we’ve earned from more than a century of
to identifying and preparing for material opportunities operating with unwavering integrity.
and threats impacting our ability to deliver on
stakeholder expectations. Risk oversight
The concept of risk appetite and tolerance is an
! essential component of our strategic planning.
Our impact
The Board delegates primary responsibility for
the oversight of risks facing the company to the
Audit Committee of the Board of Directors.
3M’s general auditor conducts an annual review
The Audit Committee Charter stat
Keyword: governance
The compliance program is designed to meet the U.S. Governance structure Compliance training
Federal Sentencing Guidelines. As a result, it meets
The chief ethics & compliance officer reports directly and education
similar global standards and the requirements of other
to the Audit Committee of the 3M Board of Directors.
countries’ anti-bribery laws.
The Audit Committee helps the Board oversee 3M’s 3M offers a comprehensive online compliance training
The program consists of: legal and regulatory compliance efforts. This direct program to employees worldwide. Employees are
• A global code of conduct based on a core set of reporting line assures the independence of the Ethics assigned training modules based on their role and area
business conduct principles & Compliance Department, which is responsible
Keyword: governance
relations rules, and regulations Lobbying and Political Activities Governance,
investigates ethics-related concerns.
and Doing Business with Government Agencies
and Contractors Principle
3M suppliers
Acquisitions, Failing to recognize human rights issues Prioritize and address human rights issues relative
mergers, and during the acquisition, merger, or to risk and compliance; see Human Rights Based on our assessment process, we’ve determined
divestitures divestiture diligence processes Policy, Respectful Work Environment Principle, that in our spheres of influence (our own business and
EHS&PS Acquisitions, Mergers, and Divestitures others acting on 3M’s behalf), the greatest potential
Standard, and Workplace Environmental, for human rights impact is within our supply chain.
Health, and Safety Principle
We want our s
Keyword: governance
governance (ESG) modifier, see our 2024 Proxy
Statement, our Nominating and Governance
Committee Charter, and our Compensation and
Talent Committee Charter.WWhhoo wwee aarree HHooww wwee wwoorrkk WWhhaatt wwee ccrreeaattee Site spotlights About report Compensation | 3M 2024 Global Impact Report 51
Performance, Competitive, fair, and
compensation, and culture equitable compensation
Our culture not only provides a framework for Guided by our compensation philosophy and principles
performance and compensation but more broadly of competitive, fair, and equitable pay, we use a
exemplifies who we are when we’re at our best. global compensation benchmarking process to drive
At 3M, we look to embody these culture elements: consistency and transparency in our
Keyword: governance
governance organization that aligns into our R&D
organization. This team establishes standards,
provides deep subject matter expertise, and conducts
our EHS&PS compliance assurance process. It also
works with 3M’s Government Affairs organization
to advocate for EHS regulations and help inform the
development of proposed regulations.WWhhoo wwee aarree HHooww wwee wwoorrkk WWhhaatt wwee ccrreeaattee Site spotlights About report EHS management | 3M 2024 Global Impact Report 58
We recognize that success comes through we provide scholarships for professional certification • Assure our site managers’ role in EHS excellence
collaboration with all organizations throughout 3M, training courses, cover recertification dues, and more. is consistently understood
Keyword: governance
capital through the governance process. commitment to improving our environmental
storage, security, transfer of records, record
stewardship.
For detailed expenditures on capital projects for retention, and record destruction. This standard
environmental purposes, see our Annual Report on helps ensure that 3M medical information is handled Learn more about biodiversity impacts in the
Form 10-K, Item 1. Business – Government Regulation in a manner consistent with the 3M Data Privacy Suppliers section.
and Environmental Law Compliance. Principle and all applicable legal requirements.
• EHS&PS Acquisitions, Mergers and Divestitures
EHS policies, standards,
Standard helps ensure that potential EHS&PS issues
and principles are identified, evaluated, prioritized, addressed, a
Keyword: governance
Governance The highest level of climate risk governance is the responsibility of the 3M Science, Technology & Sustainability Committee of the Board of Directors. The
committee’s roles and responsibilities include reviewing the company’s policies and programs on sustainability and assisting the Board in identifying and
analyzing significant emerging science and technology, disruptive innovations, sustainability, materials vulnerability, and geopolitical issues that may impact
the company’s overall business strategy, global business continuity, and financial results.
Consulting with the company’s senior management and the Board, the general auditor annually leads the assessment of the major risks facing the company
and works with the executives responsible for managing each risk to develop approp
Keyword: governance
We believe this governance of risks by Board committees, who share information with the full Board, is appropriate for a diversified technology and
manufacturing company like 3M. 3M’s Annual Report on Form 10-K, Item 1A outlines risk factors applicable to the company.
Financial Financial opportunities include products and services, and resource efficiency. Access to dependable energy supplies and energy efficiency directly affects
opportunities all businesses and communities. Energy usage and climate concerns require systemic change. 3M is a science-based, diversified technology company
providing innovative solutions to address these and other physical climate opportunities.
Metrics We have established key sustainability metrics to measure and manage climate risk th
Keyword: governance
governance, including for employment, diversity, laws, including human rights and environmental
community-building, and risk mitigation. We expect laws. Learn more at 3M Supplier Direct.
our suppliers to be transparent about their related
practices and to work with us to transform our shared Policies and processes
value chain. We’re committed to responsible sourcing
aligned with our values
and the conservation of natural resources, and we
recognize our responsibility to source from suppliers
Forced labor and human trafficking
that share those values.
3M’s Modern Slavery Statement communicates our
commitment to acting ethically and with integrity in
all our business relationships and to using robust
Our impact
policies and effective systems and contro
Keyword: governance
Supplier risk assessment and Implementation and governance Risk assessment process
supply chain transparency 3M’s global Responsible Sourcing team, part of Although it applies to all suppliers, our supply
the Strategic Sourcing and Packaging Solutions chain risk assessment process prioritizes higher-
We are constantly managing changes in supply organization, implements our supplier risk assessment risk suppliers. The process begins with a self-
markets, such as through opportunities to achieve and auditing program. Oversight is provided by assessment questionnaire that helps us understand
value and, where necessary, to mitigate risk and secure Strategic Sourcing leadership and a cross-functional supplier programs and determine if they meet our
supply. In 2023, we continued to navigate and adapt to
Keyword: governance
solutions that do more with less material. We also have a robust governance framework that refine our assessment process.
guides our sustainability and EHS activities, with
primary Board-level oversight by the 3M Board’s We address any deficiencies through an SRC
Science, Technology & Sustainability Committee. Corrective Action Preventive Action (CAPA) process.
Follow-up on the CAPA may include additional
audits. If a supplier is unable or unwilling to resolve
any gaps or findings, the CAPA process moves to
the Responsible Sourcing Supplier Issue Escalation
process. If the supplier is still unwilling to work on the
gaps or can’t resolve them in a reasonable amount of
time, a cross-functional team considers alternative
actions to elevate and resolve the situation.
Since 2008, 3M has conducted over 8,600
on-site or
Keyword: governance
consistent governance processes surrounding our businesses to both existing and emerging global product laws
significant events and aligns with the Product Safety, and countries and regulations. This approach provides standard
Compliance, and Stewardship Policy. PS significant governance to support our business model and
of operation
events are reported monthly to executive leadership. enable compliance.
Internal audit processes and monitoring External advocacy
3M is committed to continually improving our chemical We actively advocate for product stewardship by
management processes and procedures as we seek serving as committee members, working group
to innovate responsibly in the best interest of our members, and speakers or presenters at various
communities a
Keyword: governance
2-9 Governance structure and composition 3M Board of Directors
3M Committee Composition
Corporate governance 34
Proxy Statement, Proxy highlights and Corporate governance at 3M
2-10 Nomination and selection of the highest governance body Corporate governance 34
Nominating and Governance Committee Charter
2-11 Chair of the highest governance body Michael F. Roman
Chief Executive Officer
Corporate governance 34
2-12 Role of the highest governance body in overseeing the 3M Corporate Governance Guidelines
management of impacts
Corporate governance 34
Enterprise risk 38
Leading with purpose 8
Proxy Statement, Board’s role in risk oversight
2-13 Delegating of responsibility for managing impacts Corporate governance 34
2-14 Role of the highest governance body i
Keyword: governance
n sustainability Corporate governance 34
reporting
Leading with purpose 8
2-15 Conflicts of interest 3M Company Code of Business Conduct and Ethics for Members of the Board
of Directors
Corporate Code of Conduct 40
Corporate governance 34Who we are How we work What we create Site spotlights About report GRI index | 3M 2024 Global Impact Report 109
Disclosure
Description Cross-reference or direct answer Page
number
2-16 Communication of critical concerns Annual Report on Form 10-K, Item 1A
Corporate governance 34
Confidentiality constraints. This information is considered business confidential; critical
concerns would be taken into consideration during our Enterprise Risk Management
initiative: see the Enterprise risk section for additional information on our mechanism
used to
Keyword: governance
2-17 Collective knowledge of highest governance body Proxy Statement, Director orientation and continuing education
Leading with purpose 8
2-18 Evaluation of the performance of the highest governance Proxy Statement, Board self-evaluation process
body
Nominating and Governance Committee Charter
2-19 Remuneration policies Compensation 50
Compensation and Talent Committee Charter
Proxy Statement, Director compensation and Executive compensation
2-20 Process to determine remuneration Compensation 50
Compensation and Talent Committee Charter
Proxy Statement, Director compensation and Executive compensation
2-21 Annual total compensation ratio Proxy Statement, Executive compensation – Pay ratio
Not applicable. Disclosure does not cover the specific impacts that make the topic
material. 3M ha
Keyword: governance
3-3 Management of material topics Corporate governance 34
207-1 Approach to tax Corporate governance 34
207-2 Tax governance, control, and risk management Corporate governance 34
207-3 Stakeholder engagement and management of concerns Corporate governance 34
related to tax
207-4 Country-by-country reporting Confidentiality constraints. This information is considered business confidential.
GRI 301 Materials 2016 - -
3-3 Management of material topics Circular materials 64
301-1 Materials used by weight or volume Information unavailable/incomplete. Material weight or volume by nonrenewable and
renewable categories for 3M’s 55,000 products (not including intermediates) is currently
not comprehensive. 3M is working to improve systems that help us collect this type of
information. Find more about ou
Keyword: governance
Corporate governance 34
Diversity, equity, and inclusion 30
405-1 Diversity of governance bodies and employees 3M Diversity, Equity & Inclusion (DEI) Report
Board of Directors
Corporate governance 34
Corporate Officers
405-2 Ratio of basic salary and remuneration of women to men 3M Diversity, Equity & Inclusion (DEI) Report
Compensation 50
Diversity, equity, and inclusion 30
GRI 406 Non-discrimination 2016 - -
3-3 Management of material topics Human rights 45
Respectful Work Environment Principle
406-1 Incidents of discrimination and corrective actions taken Confidentiality constraints. This information is considered business confidential: See the
Corporate Code of Conduct section for more information on the mechanism we use to
address and resolve discriminati
Keyword: governance
3-3 Management of material topics Corporate governance 34
Lobbying and Political Activities PrincipleWho we are How we work What we create Site spotlights About report GRI index | 3M 2024 Global Impact Report 120
Disclosure
Description Cross-reference or direct answer Page
number
415-1 Political contributions Corporate governance 34
Lobbying and Political Activities Principle
Lobbying and Political Activities Governance
GRI 416 Customer health and safety 2016 - -
3-3 Management of material topics Innovation management 85
Product Safety, Quality, and Stewardship Principle
416-1 Assessment of the health and safety impacts of product and Innovation management 85
service categories
416-2 Incidents of non-compliance concerning the health and safety Significant legal actions for noncompliance with l
Keyword: governance
governance
Leadership Competitive behavior Antitrust and Competition Principle
and
Corporate Code of Conduct 40
governance
Leadership Management of legal and regulatory environmental Annual Report on Form 10-K, Item 1 – Raw materials; Item 1A – Risks Related to Our Products
and and Customer Preferences; and Item 8 – Note 18: Commitments and Contingencies.
governance
Environmental, health, and safety management 57
Leadership Critical incident risk management Corporate governance 34
and
Enterprise risk 38
governance
Environmental, health, and safety management 57
Leading with purpose 8
Suppliers 79
Leadership System risk management Annual Report on Form 10-K, Item 1A – Risks Related to Our Products and Customer
and Preferences, and Item 8 – Note 18: Co
Keyword: governance
governance
Enterprise risk 38
For additional details on SASB integration for this report, see the About report section.Who we are How we work What we create Site spotlights About report Assurance statement | 3M 2024 Global Impact Report 124
Assurance
INDEPENDENT ASSURANCE STATEMENT
statement
To: Stakeholders of 3M Corporation
Introduction and objectives of work
Apex Companies, LLC (Apex) was engaged by 3M Corporation (3M) to conduct independent
assurance of its 3M 2024 Global Impact Report (the Report). This assurance statement applies
to the related information included within the scope of work described below and within the
boundaries specified in the Report. The intended users of the assurance statement are the
stakeholders of 3M. The overall aim
Keyword: governance
In addition to metrics included in this report, supplementary metrics can be found in our accompanying ESG metric (.xls) file, including environmental, social, and governance
metrics, charts, and a glossary of terms.
Values reflect calendar years, which align with 3M’s fiscal years. Where attainable and justified, metrics are rounded to three significant figures. Some totaled metrics may
not match metrics summed together after rounding. Restatements are made when changes are + or - 5% of the original data point. For additional details about organizational
boundaries, data collection, adjustments, and verification, see the About report section.
Employee demographics
Metric Metric units RY-2023 RY-2022 RY-2021 2022-2023 Boundary & scope
annual
change, %
Global full-time equivalent employees Total number 84,900 91,600 94,700 -7.31 N/A
Global employee (headcount) Total number 85,300 92,100 95,300 -7.38 N/A
Full-tim
Keyword: bribe
continually assess risks specific to pharmaceutical and life as anti-corruption, anti-bribery and conflicts of interest,
sciences compliance and tailored to the market in which with additional training tailored by each employee’s job
we operate. Our focus continues to be on core laws – for responsibilities. All full- and part-time new hires complete a
example, Foreign Corrupt Practices Act, False Claims Act, new Foundations to Compliance course, which addresses
Anti-Kickback Statute, Anti-Bribery and Anti-Corruption key laws and requirements such as fraud and abuse, anti-
laws—and our process includes establishing an annual bribery and anti-corruption, transparency and transfers
risk landscape using information on product and business of value, and responsible promotion. We also regularly
activity risks obtained through questionnai
Keyword: bribe
Business Advantage.” With multiple informational Completion of Assigned Anti-Bribery and Anti-Corruption Training by Full-
- 99% 99%
sessions and interviews with senior leaders and and Part-time Employees Globally2
external experts, the week of events re-emphasized
1 Employees who did not complete these trainings include, but are not limited to, those who are on leave of absence, retired or otherwise left the company prior to completion date
AbbVie’s core belief that our commitment to an
2 KPI first introduced for the 2022 ESG Action Report. AbbVie is only reporting data from 2022 onward for this KPI.
ethical and compliant culture enables our business
strategy and drives competitive advantage.
Human Rights Additionally, our Global Privacy Policy protects the personal
information of our employees, patients and customers.
We
Keyword: corruption
continually assess risks specific to pharmaceutical and life as anti-corruption, anti-bribery and conflicts of interest,
sciences compliance and tailored to the market in which with additional training tailored by each employee’s job
we operate. Our focus continues to be on core laws – for responsibilities. All full- and part-time new hires complete a
example, Foreign Corrupt Practices Act, False Claims Act, new Foundations to Compliance course, which addresses
Anti-Kickback Statute, Anti-Bribery and Anti-Corruption key laws and requirements such as fraud and abuse, anti-
laws—and our process includes establishing an annual bribery and anti-corruption, transparency and transfers
risk landscape using information on product and business of value, and responsible promotion. We also regularly
activity risks obtained throu
Keyword: corruption
Business Advantage.” With multiple informational Completion of Assigned Anti-Bribery and Anti-Corruption Training by Full-
- 99% 99%
sessions and interviews with senior leaders and and Part-time Employees Globally2
external experts, the week of events re-emphasized
1 Employees who did not complete these trainings include, but are not limited to, those who are on leave of absence, retired or otherwise left the company prior to completion date
AbbVie’s core belief that our commitment to an
2 KPI first introduced for the 2022 ESG Action Report. AbbVie is only reporting data from 2022 onward for this KPI.
ethical and compliant culture enables our business
strategy and drives competitive advantage.
Human Rights Additionally, our Global Privacy Policy protects the personal
information of our employees, patients and customers.
We believe in the inhe
Keyword: tax
• Senior Vice President, • Senior Vice President, Tax
perspective and commitment to good corporate citizenship. the executives’ ESG accomplishments under this goal cover
Corporate Affairs
They demonstrate experience and ability that is relevant to all our ESG material drivers. • Vice President, Chief Equity
(ESG Council Chair)
Officer
the board’s oversight role with respect to AbbVie’s business
Our ESG Council • Senior Vice President, AbbVie
• Vice President, Chief
and affairs.
and President, Specialty and
Procurement Officer
We continue to enhance our ESG goals and initiatives
U.S. Therapeutic Operations
ESG impacts the entire company and, as such, each of the
• Vice President, Corporate
through active engagement and oversight by our ESG
• Senior Vice President, Chief
board committees, as we
Keyword: governance
ReportOur Approach to ESG Environmental Social Governance 2
2023 ESG Action Report
Contents
4 A Message From Our Chairman and CEO
28 Social 2023 ESG Action Report
5 Company Overview
29 Product Innovation Disclosure Supplement
40 Product Quality and Safety
This supplement contains our Sustainability Accounting
7 Our Approach to ESG
45 Patient Health and Engagement
Standards Board (SASB), Task Force on Climate-Related
8 ESG Oversight 50 Patient Access and Affordability Financial Disclosures (TCFD) and United Nations Sustainable
Development Goals (SDGs) indices, our key performance
9 Our ESG Framework 55 Human Capital Management
indicator (KPI) data and our assurance statements.
11 2023 Highlights 67 Community Engagement
12 External Recognition 2023 ESG Action Report Disclosure Supplement
74 Governa
Keyword: governance
75 Corporate Governance
14 Environmental Sustainability 76 Business Ethics
81 Enterprise Risk Management
84 Supply Chain Sustainability
89 Transparency, Accountability and Reporting
90 Looking Ahead
Cover page locations:
Left – Sligo, Ireland, Middle – North Chicago, Illinois, Right – Lake County, IllinoisOur Approach to ESG Environmental Social Governance 3
2023 ESG Action Report
Disclaimer and Forward-Looking Statements
The information and opinions contained in this report are provided as of the date of this
report and are subject to change without notice. AbbVie does not undertake to update or
revise any such statements.
Company goals are aspirational and not guarantees or in the forward-looking statements. Where, in any forward-
promises that all goals will b
Keyword: governance
metrics relating to environmental, social and governance results or events is expressed or implied, such expectation
(ESG) matters are estimates and may be based on or belief is based on the current plans and expectations
assumptions or developing standards. This report may of AbbVie management and expressed in good faith and
contain or incorporate by reference public information not believed to have a reasonable basis, but there can be no
separately reviewed, approved or endorsed by AbbVie and assurance that the expectation or belief will result or be
no representation, warranty or undertaking is made by achieved or accomplished. Such risks and uncertainties
AbbVie as to the accuracy, reasonableness or completeness include, but are not limited to, challenges to intellectual
of such information.
Keyword: governance
results to differ materially from those expressed or impliedOur Approach to ESG Environmental Social Governance 4
2023 ESG Action Report
A Message from Our Chairman and CEO
Since our inception in 2013, AbbVie has sustained our development opportunities to bolster both our current on- We are also responsible stewards of our environmental
steadfast commitment to investing in innovation, serving market products and our pipeline. This includes increasing resources and are proud that in 2023 we reduced our Scope
patients and delivering growth. As AbbVie’s founding Chief adjusted R&D investment in 2023 by approximately $700 1 and 2 greenhouse gas emissions by more than 26 percent,
Executive Officer (CEO), I am tremendously proud of the million² and announcing the acquisitions of ImmunoGen and increased our active sourcing of renewable electricity by
purpo
Keyword: governance
Governance (ESG) Action Report. This report highlights our Serving our communities has and will continue to be a everyone with dignity and respect.
efforts across our three foundational ESG pillars: delivering major part of our legacy. In 2023 alone, we raised $24.7
I am incredibly proud of our company’s journey and the
innovative medicines, unlocking the potential of our diverse million for nonprofits around the world through employee
millions of patients and countless communities we have
and talented teams, and advancing long-term patient health donations matched by the AbbVie Foundation, and nearly
helped. Today our business has never been stronger, and
and business resiliency. These pillars lay the groundwork 14,000 employees volunteered during o
Keyword: governance
*The transaction is expected to close in 2024 subject to regulatory approvals and other customary closing conditions.Our Approach to ESG Environmental Social Governance 5
2023 ESG Action Report
Company Overview
AbbVie’s mission is to discover and deliver innovative medicines and solutions that address complex health issues and enhance people’s
lives. Our commitment is measured by the impact we make – to patients, to our communities and to the world. Our approximately 50,000
employees strive to make a remarkable impact that lasts, driven by our compassion for people, commitment to innovation and inclusion,
service to the community and uncompromising integrity.
Today, our products help more than 60 million people
$63 75+
living in more than 175 countries, and we are making
Global headquarters
significant advancements with a robust pipeline
in North Chicago, IL, billion + invested conditions treated
of poten
Keyword: governance
Corporate Governance section of this report and in
our 2024 Proxy Statement.
~50,000 $54.3 12
employees working in billion in total net blockbuster products
more than 70 countries revenue in 2023 with 2023 net revenues
greater than $1 billion
Helping patients in
175+ ~90
Key specialty areas:
immunology, oncology,
countries active clinical and device
neuroscience, eye care
programs2
and aesthetics
¹ Adjusted R&D investment is a non-GAAP measure, which is reconciled in our 2024 Proxy Statement.
² Compounds, devices or indications in development individually or under collaboration or license agreements.Our Approach to ESG Environmental Social Governance 6
2023 ESG Action Report
Our
Principles
Transforming Acting with Driving Embracing Serving the
Lives Integrity
Keyword: governance
Our PrinciplesOur Approach to ESG Environmental Social Governance 7
2023 ESG Action Report
Our Approach
to ESG
We are committed to making a real difference in
people’s lives—through the breakthroughs we achieve
and the paths we take to achieve them. That is why
we are intentional in our approach to advancing the
environmental, social and governance (ESG) initiatives
that support the sustainable growth of our company and
create a positive impact for our people, communities
and the planet.
We evaluate our efforts against a range of external ESG
frameworks, global initiatives, ratings and indices. These
include the Sustainability Accounting Standards Board
(SASB), the Task Force on Climate-Related Financial
Disclosures (TCFD), and the United Nations Sustainability
Development Goals (UN SDGs), which can be f
Keyword: governance
Lake County, IllinoisOur Approach to ESG Environmental Social Governance 8
2023 ESG Action Report
ESG Oversight
AbbVie’s board of directors has oversight responsibility for the company and administers
Board of Directors
this responsibility both directly and with assistance from its committees. Our directors
have backgrounds that, when combined, provide a portfolio of experience and knowledge
Chairman of the Board and CEO
that serve AbbVie’s governance and strategic needs.
ESG Executive Sponsor
Director nominees are considered based on a range of ESG goal category, all senior leaders, including the NEOs,
Executive Vice President, Human Resources
criteria, including broad-based business knowledge and continued to have a goal aligned to executing the EEDI
relationships, prominence and excellent reputations in thei
Keyword: governance
board committees, as well as the full board itself, oversees Legal, Governance, and
Council. Chaired by our Senior Vice President, Corporate
Ethics and Compliance
specific aspects of AbbVie’s ESG framework and approach. Assistant Secretary
Affairs, and composed of senior cross-functional leaders, Officer and Allergan
The board of directors, through its committees, prioritizes • Vice President, Corporate
Aesthetics Legal
the ESG Council’s purpose is to champion business
Responsibility and Global
and reviews ESG material drivers and enterprise risks and
sustainability and mitigate business risks by monitoring, • Senior Vice President, Chief
Philanthropy
discusses them with our senior management on a
Medical Officer, Global
reviewing and recommending actions to advance strategic,
• Vice President, Financial
regular basi
Keyword: governance
& Governance, Audit and Compensation Committees. Research (HEOR) • Vice President, Internal Audit
Our ESG team, which reports to the Vice President of Corporate
• Senior Vice President, Quality
In 2023, our Named Executive Officers (NEOs) continued Responsibility and Global Philanthropy, focuses on advancing
Assurance & EHS
to have a formal goal aligned to driving AbbVie’s ESG AbbVie’s ESG approach and supporting the ESG Council. With
framework. The ESG goal was weighted 10% within the this governance in place, we are well positioned to recognize
ESG Team
short-term incentive program for each NEO. As part of this ESG opportunities and achieve our ESG objectives.Our ESG Framework
Our Material Drivers
We strive to create business and societal value by bu
Keyword: governance
creating high-quality therapeutic thought, background and experience model and governance structure
solutions and ensuring their safety, and through collaboration. We know that anticipates and evolves in a
efficacy and accessibility. that when we unlock the full potential dynamic industry and society. We
of our people and our partners, we are unwavering in assuring supply of
accelerate innovation, enhance people’s innovative medicines to patients and
lives and meet our business objectives. life-enhancing products to customers.
sredlohekats
ot
ecnatropmI
Our Approach to ESG Environmental Social Governance 9
2023 ESG Action Report
Our Materiality Map
VERY HIGH
Categories
Environmental
Social
Governance
HIGH
Supply Chain
Sustainability
Transparency, Accountability
& Reporting
MODERATE
Community & Partner
Engagement and Impact
Envi
Keyword: governance
Impact to AbbVieOur Approach to ESG Environmental Social Governance 10
2023 ESG Action Report
Our material drivers are as follows:
In addition, we prioritize Environmental Sustainability.
Product Product Quality Patient Health and
We are focused on reducing our environmental footprint,
Innovation and Safety Engagement
growing sustainability through inspiring innovation and
engaging our workforce to steward the same.
We strive to make a remarkable impact We are committed to delivering safe and We continuously strive to improve
on patients and drive sustainable effective, quality products and medicines health outcomes for patients
growth by consistently discovering through robust quality systems. around the world.
Bogotá, Colombia
and delivering innovative medicines
that address serious health issues and
enh
Keyword: governance
See page 50 See page 55 See page 76Our Approach to ESG Environmental Social Governance 11
2023 ESG Action Report
2023 Highlights
In 2023, we took meaningful actions to deliver sustainable solutions that improve the health of our
business and society, in alignment with our ESG framework.
Nearly
26.4% 218,000+ $1.03 14,000
reduction U.S. patients billion employees
in absolute Scope 1 and 2 greenhouse gas gained access to medicine at no cost through spent working with approximately 2,500 small participated during AbbVie’s global week
(GHG) emissions compared to 2021 baseline our patient assistance programs and diverse businesses in the United States of volunteering
and Puerto Rico
29% $24.7 7 81%
reduction million major product employee engagement
in total hazardous and non-hazardous waste raised for 13,720 nonprofit organizati
Keyword: governance
¹ Adjusted R&D investment is a non-GAAP measure, which is reconciled in our 2024 Proxy Statement.Our Approach to ESG Environmental Social Governance 12
2023 ESG Action Report
External Recognition
Austin, Texas
In 2023, we were honored to receive some of the most prestigious ratings and rankings
in our industry. To date, we have received more than 40 Great Place to Work and
Top Employer rankings globally.
Workplace and Diversity Environment, Social and Governance
Fair360 Top 50 Companies for Diversity – on the list since Dow Jones Sustainability World and North America Indices
2014
Top 1% S&P Global ESG Score
FORTUNE 100 Best Companies to Work For®
– sixth consecutive year
EcoVadis Corporate Social Responsibility Assessment
Silver Medal
Great Place to Work’s World’s Best Workplaces™ for
the seventh consecutive year, rising two places to #4
FTSE4Good Index
Seramount 100 Best Companies –
Keyword: governance
UN Global Compact memberOur Approach to ESG Environmental Social Governance 13
2023 ESG Action Report
Environmental
We believe that human health and the health of the 2023 Highlights
environment are inextricably linked. That is why we are
committed to taking concerted action to reduce the
environmental impact of our operations, our products
and our supply chain.
26.4% 29%
Our scale, reach and geographic footprint provide us
reduction reduction
with the unique opportunity to drive transformative
change and improve the health of the people we serve. in absolute Scope 1 and 2 in total hazardous and non-hazardous
greenhouse gas (GHG) emissions waste generated since 2015,
Working with others who share our vision and values,
compared to 2021 baseline surpassing our target of 20%
we will continue to address the challenge
Keyword: governance
of renewable electricityOur Approach to ESG Environmental Social Governance 14
2023 ESG Action Report
Environmental Sustainability
AbbVie’s purpose is to make a remarkable impact on people’s lives in a sustainable way. To make progress against our environmental
targets, we actively manage performance at each of our sites, bringing in new technologies and processes to improve energy efficiency,
reduce air emissions and use natural resources efficiently.
Our Approach of climate-related risks, including potential opportunities More information about the governance and oversight
for climate change-related operational savings, such of environmental sustainability is available in our
To minimize our impact on the environment, we are taking
as efficiency improvements, capital investments and TCFD Index, which you can lin
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organization. EHS leads the identification and monitoringOur Approach to ESG Environmental Social Governance 15
2023 ESG Action Report
Our Environmental Targets
For more details of our progress against these
targets, see the Climate Action, Energy Efficiency
and Renewable Energy sections of this report.
Reduce absolute Increase active Increase % of Reduce absolute Reduce absolute total Achieve and maintain Achieve zero
Scope 1 and 2 GHG sourcing of renewable suppliers by water withdrawal hazardous and combined recycling waste to landfill
emissions by electricity from 29.5% emissions that will (including noncontact non-hazardous waste rate for hazardous (excluding leased
in 2021 to set science-based cooling water) vs. generated (excluding and non-hazardous commercial
42.0%
targets to 2015 baseline construction and waste (excluding offices)
100%
de
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³ Includes waste disposed of in the following manner: beneficial use, recycled, composted, treated, incinerated with energy recovery and incinerated without energy recovery. Sligo, IrelandOur Approach to ESG Environmental Social Governance 16
2023 ESG Action Report
Environmental Management System
Employee Engagement and Our Environmental Management System (EMS) is Team Evergreen
supported by a series of written EHS policy standards
Environmental Sustainability
In February 2023, AbbVie received the ‘Green Pharmaceutical
that align with international standards such as ISO
Award’ at the Green Awards in Ireland. And in May 2023,
As part of our Earth Day celebrations, we held a
14001 and ISO 50001. ISO 14001 is an international
AbbVie’s Team Evergreen – a team of sustainability volunteers
series of webinars for employees and
standard used by organizations to improve their
from across our manufacturing and commercial sites in
contractors and ran a challenge to promote
environmenta
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Commercial affiliate offices outside of the United States 2 1 1Our Approach to ESG Environmental Social Governance 17
2023 ESG Action Report
Spark Innovation Accelerator In 2023, Spark actively supported 17 teams.
AbbVie’s Spark Innovation Accelerator program encourages
• One supplier is now delivering organic solvents to our
teams to submit big, bold ideas to help AbbVie reduce its
South San Francisco, California, facility in reusable
environmental footprint and achieve its sustainability goals.
metal tanks rather than large numbers of glass
The selected teams are supported over a 10-month period
bottles. Through the EcoSolvent project, the tanks are
to develop their suggestions into viable solutions.
hooked up to the system rather than poured, reducing
packaging waste and making solvent use safer by
Since its launch in 2019, the program has supported
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¹ GHG equivalencies calculatorOur Approach to ESG Environmental Social Governance 18
2023 ESG Action Report
Assessing Climate Risk In addition, AbbVie completed assessments for transition
Taking Action on Climate
risks, including policy risks (carbon pricing) in 2021, and
As part of our efforts to evaluate and reduce the impact
We anticipate that climate change will have varying levels market (suppliers and customers) and reputational risks in
of climate change on our business, particularly in terms
of impact on our business across the short, medium and 2023. These assessments help guide the evolution of our
of potential supply disruption, we conduct climate risk
long term. The disruption from increasingly frequent and future climate strategy.
assessments and implement adaptation projects.
severe weather events not only
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¹ Covering the Purchased Goods & Services, Capital Goods and Upstream Transportation & Distribution Scope 3 categories.Our Approach to ESG Environmental Social Governance 19
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Our Decarbonization Plan Engaging Suppliers on Scope 3 Emissions
As well as reducing the greenhouse gas (GHG) emissions
Our decarbonization plan includes five strategic elements to achieve our 2030 science-based targets. These elements –
from our own operations, we also encourage our suppliers
energy efficiency, renewable energy, fleet efficiency and electrification, physical footprint, and supplier engagement – will
to set their own GHG reduction targets through SBTi’s
reduce our greenhouse gas (GHG) emissions, increase our purchasing of renewable electricity while still allowing for a
robust framework. We focus our efforts on suppliers in the
level of organic growth within our operations.
following Scope 3 categ
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that will help us to successfully decarbonize over time.Our Approach to ESG Environmental Social Governance 20
2023 ESG Action Report
Key Performance Indicators: Carbon Emissions 2021 2022 2023
Absolute Scope 1 GHG Emissions (Metric Tons CO2e) 367,954 342,607 328,259
Scope 1 Stationary Combustion GHG Emissions (Metric Tons) 259,456 227,346 212,851
Scope 1 Mobile Combustion GHG Emissions (Metric Tons) 97,076 104,510 105,566
Scope 1 Fugitive GHG Emissions (Metric Tons) 5,501 5,319 4,840
Scope 1 Office Activities GHG Emissions (Metric Tons) 5,921 5,432 5,002
Absolute Scope 2 Location-Based GHG Emissions (Metric Tons CO2e) 330,946 271,055 237,714
Absolute Scope 2 Market-Based GHG Emissions (Metric Tons CO2e) 256,708 184,549 131,232
Scope 2 Purchased Electricity GHG Emissions (Metric Tons) 204,918 135,090 85,9351
Scope 2 Purchased Steam GHG Emissions
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to align with the outcome of this assessment.Our Approach to ESG Environmental Social Governance 21
2023 ESG Action Report
Driving Energy Efficiency
Our efforts to reduce carbon emissions and energy
consumption are driven by a philosophy of investing in new
technology, infrastructure and processes to increase energy
efficiency at our manufacturing, R&D and commercial sites,
and use of cleaner energy sources.
Our Energy Efficiency Fund and our Decarbonization Fund aim
to provide capital funding to internal projects that can help us
achieve our long-term goals of improving energy efficiency
and reducing GHGs. Last year, $10.5 million of capital funding
was allocated to 34 projects such as heat pumps, solar water
heaters, high-efficiency boilers, chillers and air-handling units.
Together, these have reduced our global carbon footprint by
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Pringy, FranceOur Approach to ESG Environmental Social Governance 22
2023 ESG Action Report
Switching to Renewable Energy In 2023, we added rooftop solar panels to our sites in
Liege, Belgium, and Ludwigshafen, Germany, while our
My Green Lab AbbVie continues to look for ways to reduce our reliance
facility in Costa Rica has photovoltaic panels across its
on fossil fuels and switch to renewable forms of energy.
Laboratories are typically resource- and
entire roof, which generate about 10% of the
We increased the amount of renewable electricity that we
energy-intensive, but we do not believe they have to be.
site’s electricity.
purchase to more than 55% globally in 2023 as we work
In 2021, our facility in Sligo, Ireland, set a goal to toward achieving 100% by 2030.
improve its green laboratory processes a
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² Purchased renewable electricity increased from 42.7% globally in 2022 to 55.5% in 2023.Our Approach to ESG Environmental Social Governance 23
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Managing Water Our Water-Saving Initiatives
We invest in innovative technologies that allow us to use
As well as being crucial for both human and environmental
water more efficiently, and we encourage the development of
health, high-quality water is needed for the manufacture of
new processes that increase efficiency of our water usage.
our products. We are committed to using water responsibly
and treating any water discharged back into the
Purified water is a critical component of biologics
environment. We have set an ambitious target of halving
manufacturing. In 2023, we upgraded the purified water
our absolute water withdrawals by 2035, compared to our
generation and distribution system at our Worcester,
2015 b
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¹ KPI first introduced for the 2022 ESG Action Report. AbbVie is only reporting data from 2022 onward for this KPI.Our Approach to ESG Environmental Social Governance 24
2023 ESG Action Report
Managing Waste
Pharmaceuticals in the Environment We manage our environmental protection material
Waste is an important focus of our environmental
focus areas in an integrated way, using risk-based
AbbVie is committed to safeguarding human health
sustainability efforts. We are working to reduce the amount
approaches to lower the economic and environmental
and the environment throughout the lifecycle of our
of waste we create and managing any unavoidable waste in
burden of health care while improving health outcomes.
pharmaceutical products. By implementing internal water
a responsible way, avoiding landfills where possible.
Our strategy is to ensure that the manufacturing, use
protection standards, we demonstrate
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to landfill at the start of 2023.Our Approach to ESG Environmental Social Governance 25
2023 ESG Action Report
Sustainable Packaging Safe Disposal of Medicine
Our philosophy reaches beyond recovery and embraces We are committed to developing the highest quality
Incorporating Human Factors
a holistic view of a package’s environmental impact. products and ensuring the safety of the patients who
We always consider the needs of patients when we are
Every package material and finished package should be use them. Secure disposal of medical waste is a part of
developing complex packaging solutions. But ensuring the
designed and manufactured so that it can be diverted this responsibility.
product is protected and sterile, and the instructions for
from landfill while also meeting our customers’ needs
We adhere to state and local la
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www.myoldmeds.com.Our Approach to ESG Environmental Social Governance 26
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Key Performance Indicators: Waste 2021 2022 2023
Green Chemistry
Combined Recycling Rate for Hazardous and Non-Hazardous Waste
At AbbVie, green chemistry efforts support our
42% 39% 40%
(Excluding Construction and Demolition)
environmental sustainability commitments, fostering
the safe use of environmentally friendly substances,
Absolute Total Hazardous and Non-Hazardous Waste Generated
advancing design processes that maximize all materials
36.9 33.9 30.22
(Excluding Construction and Demolition Waste) (1,000 Metric Tons)
used, and minimizing waster production. Our scientific
community is continuously looking to improve the
Absolute Total Hazardous Waste (1,000 Metric Tons)1 - - 13.352
manufacturing of pharmaceutic
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² This value has been rounded for consistency purposes.Our Approach to ESG Environmental Social Governance 27
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Protecting
Biodiversity
Our Biodiversity Initiatives
The operational impact on biodiversity
is a growing consideration for large
companies, including AbbVie. In
2022, we evaluated all our global
Along the shores of Lake Michigan, our In Sligo, Ireland, we have left the unused
manufacturing and R&D sites to
North Chicago, Illinois, site has established land between our two sites fallow, to
determine their proximity to key
a 28-hectare nature and wildlife preserve. promote plants that attract pollinators
biodiversity areas.
As part of a multi-phase project, we have and other wildlife, and created a half-
replaced turf lawns with native grasses mile-long Slí na Sláinte (“Path to Health”)
Although we do not currently
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drought-resistant plants.Our Approach to ESG Environmental Social Governance 28
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Social
2023 Highlights
As a global health care company, we put patients at the
center of our work and support patient communities
through research, engagement, assistance and access
218,000+ $24.7
to our products.
U.S. patients million
We create innovative medicines and solutions with the
provided medicine at no cost through raised for 13,720 nonprofit organizations
highest standard of quality and safety to positively our patient assistance programs through our Employee Giving Campaign
impact the lives of our patients. We achieve this by
having a strong, caring organizational culture, constantly
working to attract the best talent and providing them
81% 7
with opportunities for growth and development.
employee enga
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2023 AbbVie Employee Survey of volunteeringOur Approach to ESG Environmental Social Governance 29
2023 ESG Action Report
Product Innovation
Science and innovation are the lifeblood of our company. From discovery to development to regulatory approval to manufacturing, our
scientists are driven to develop and deliver life-changing medicines that take on the world’s toughest health challenges.
Our Approach
individual perspectives, needs and priorities are built into
our clinical development process.
AbbVie’s mission is to discover and deliver innovative
medicines and solutions that address complex health R&D Governance
issues and enhance people’s lives. Our unrelenting drive for
We maintain a robust R&D governance structure to ensure
innovation and our patient-focused expertise spans a core
our medicines and first-in-class solutions ma