Medtronic announces first Chief Sustainability Officer

NYSE-listed medical device company Medtronic has appointed Raman Venkatesh as its first Chief Sustainability Officer, effective February 19.

Medtronic, which posted revenues of US$31.2 billion in 2023, is working towards “carbon neutrality” in its own operations by 2030 and has set a net zero ambition across all scopes for 2045 – though the company is still in the process of assessing Scope 3 emissions.

Medtronic reported 253,800 tonnes of greenhouse gas emissions across Scope 1 and 2 in 2023, down 14% from the previous year – a result it achieved primarily via energy efficiency gains and renewable energy certificates.

In this newly created role, Venkatesh will be responsible for “leading the development and execution of Medtronic’s environmental sustainability strategy”, which will include submitting climate targets to the Science-Based Targets Initiative in the coming year – a commitment the company made in 2023. 

Medtronic Chief Sustainability Officer: 30 years of executive experience

Venkatesh brings almost 30 years of executive experience to the role, having held managerial roles at Unilever, the American Chemical Society, Eureka Forbes and others before starting his own executive advisory firm, Pinnacle Executive Advisors, in 2022.

His experience does not include any explicit sustainability title, though he briefly served as executive vice president at water technology company Aquaporin, and drove several sustainability initiatives in other roles.

“I am excited to see Raman and his team drive Medtronic forward on our sustainability journey. I am confident that together we will shape and unlock new innovative solutions that serve our patients and our planet,” said Medtronic’s Chief Technology and Innovation Officer Ken Washington.