Message from the CEO
Dear readers,
This year, Sonova has continued to make significant strides in sustainability and responsible business practices. We have taken important steps to improve our ESG reporting and are working towards alignment with the European Sustainability Reporting Standards (ESRS) in preparation for the Corporate Sustainability Reporting Directive (CSRD). Additionally, we remain committed to complying with Swiss non-financial reporting requirements, including the climate ordinance, to ensure our reporting remains transparent and meets high standards.
Our ESG strategy, IntACT, is an integral part of our business strategy and overall success and continues to guide us in creating a positive impact in the world. Since 2016, Sonova has been a proud signatory of the UN Global Compact, endorsing its ten principles on human rights, labor, environment and anti-corruption. This commitment underscores our dedication to ethical practices and sustainability.
Our progress
Climate change is our primary environmental focus. We have significantly reduced our global carbon footprint across scope 1, 2, and 3 emissions, reaching a 24.5% reduction since 2019/20 on a comparable basis. Our energy consumption per full-time equivalent (FTE) has also improved, reflecting our ongoing efforts to minimize environmental impact. Increasing access to hearing care is an essential element of our vision and purpose at Sonova. This year, we have achieved a 67.3% increase in hearing aids sold in low- and middle-income countries (LMIC) compared to 2018/19, meeting our target. Additionally, 555 individuals graduated from the Sonova International Hearing Academy (SIHA) program in LMIC, continuing to grow the number of well-trained hearing care professionals. We have also launched initiatives to further empower and develop our employees, including new Leadership Principles and the LinkedIn Learning platform. Our diversity and inclusion efforts have increased the share of women in senior and middle management positions to 30.5% and 41.6%, respectively.
In terms of governance, we have rolled out our new Supplier Code of Conduct, an important measure to ensure our suppliers share our sustainability commitments. We also achieved a 98% on-time completion rate for our Code of Conduct training, underscoring our dedication to ethical business practices.
External Recognition
It makes me proud to see our commitment to sustainability be recognized by several renowned organizations. We are included in the Dow Jones Sustainability Index for the eleventh consecutive year, being ranked 1st in our sector. We have maintained the highest-possible AAA ESG rating from MSCI, and Sustainalytics ranked us first in the medical devices industry. Sonova also received the Ecovadis Platinum rating, placing us in the top 1% globally. In addition, TIME Magazine recognized us as the top healthcare company in its “Worldʼs Most Sustainable Companies 2024” list.
I therefore want to say Thank You to all our dedicated employees for their continued commitment to our sustainability journey. We acknowledge this is an ongoing effort, and we are committed to continuous improvement and learning along the way.
Arnd Kaldowski
Chief Executive Officer