Sustainability review
Governance
Sound governance is fundamental to building trust and operating responsibly and successfully. It is a cornerstone to our ability to achieve our mission and secure long-term and sustainable value for our stakeholders.
medmix is subject to the laws of Switzerland, in particular Swiss corporate and stock exchange laws. The company also applies the Swiss Code of Best Practice for Corporate Governance.
The governance structure enables our strategy and supports our commitments. Our Environmental, Social and Governance (ESG) and Sustainability Strategy and performance are discussed by the Executive Committee but also reviewed, and formally approved when required by the Board of Directors.
For each resolution to be taken by the Board of Directors, written documentation is distributed to the members of the Board of Directors ahead of each meeting. The Board of Directors and the Executive Committee meet as often as required. The Board of Directors meets at least five times per year, the Executive Committee has a sustainability update scheduled at least four times per year.
During this reporting period, the Board of Directors was consulted twice for their strategic guidance and their performance evaluation of medmix’ sustainability and ESG initiatives.
ESG metrics are built into our compensation framework and we track performance indicators related to corruption, environment, especially climate-related; social; employee-related; and human rights.
Full details of medmix Corporate Governance can be found in the corresponding section of this report.
Strategy and business model
Our long-term success depends on sustainable and profitable growth and an intact planet. As a company with a long tradition in the world of precision instruments, we want to continue to have a positive influence on our industry by reconciling economic, social and environmental aspects and promoting sustainable practices, illustrated by the following model with drivers and actions:
medmix recognizes the responsibility we have for the environment and society within the company, but also in the various communities in which we operate. Our goal is to further strengthen our sustainability efforts to minimize adverse impacts and maximize benefits, future-proof our growth and invest in building capabilities within our organization to adapt to the changing regulatory landscape and promote competitiveness and innovation.
Our strategy, long-standing commitments and ambitious targets are reflected in a comprehensive and pragmatic framework:
People
As an aspiring employer of choice, we enable an inclusive workforce, develop impactful development opportunities, and support employee engagement through an open and empowering culture.
We work to support our communities and our employees, whose safety is a key priority. We promote a safe and healthy work environment and are committed to eliminating hazards, reducing occupational health and safety risks for everyone present at our sites.
Planet
At medmix, we recognize the importance of taking a science-based approach to the reduction of our greenhouse gases to meet the goals of the Paris Agreement in limiting global warming to well-below 2°C above pre-industrial levels, and to pursue efforts to limit global warming to 1.5°C.
We have a responsibility to act in tackling climate change, reducing pollution and waste, and being a good water steward to ensure a sustainable future for our planet.
Profit
We recognize that our responsibilities are not limited to delivering strong financial results. We proactively direct our resources towards innovations that contribute to more sustainable solutions. medmix is committed to preventing corruption and has a zero-tolerance policy towards corrupt practices.
“Sustainability has pride of place at medmix, and is engrained in our company values as Sustainable Innovation. This allows us to champion, raise the visibility of and celebrate product and process innovations that contribute to the planet and people.”
Itee Satpathy
Chief Human Resources, Sustainability & Communication Officer
In 2023, medmix was accepted into the United Nations Global Compact (UNGC) and became a member of the UNGC Switzerland and Liechtenstein local network. We made its principles part of our strategy, and we support the Sustainable Development Goals (SDGs) and act to help achieve them.
Per the UNGC requirements, we will report our progress (Communication of Progress) for the first time during 2024.
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