iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health company focused on creating trusted solutions that detect, predict, and prevent disease, today released its 2022 Environmental, Social, and Governance (“ESG”) Report highlighting the company’s continued commitment to delivering long-term sustainable growth by operating in a purposeful and responsible manner.
“We are very proud to release this year’s ESG Report, which reflects our elevated focus on embedding ESG initiatives into our business. It emphasizes our belief that these are key drivers for advancing our mission,” said Quentin Blackford, iRhythm’s President and CEO. “Since our founding, we have dedicated ourselves to providing innovative services that positively impact the world, as we believe this purpose-driven mindset both supports our commercial success and enables us to better serve our employees, customers, communities, environment, and investors. This year’s report lays the groundwork for our ESG strategy over the next three years, and we remain committed to incorporating these policies and initiatives into our business as a key driver of value creation for our shareholders.”
See related article: Lion Announces Move into Green Digital Finance/Carbon Finance Sector
Throughout 2022, iRhythm took several important actions to advance its ESG program. With dedicated executive leadership to oversee the program put in place in early 2022, iRhythm engaged a third-party expert to conduct an ESG Priority Assessment to identify the ESG topics that are most relevant to the company and its stakeholders. The ESG Priority Assessment leveraged leading sustainability reporting standards and frameworks, including the Sustainability Accounting Standards Board (“SASB”), the Global Reporting Initiative and the Task Force on Climate-Related Financial Disclosures. In addition, a cross-functional management-level ESG Steering Committee and multiple ESG working groups were formed to tactically drive ESG projects and processes. Furthermore, in 2023, the company established formal board oversight of ESG by revising the charters of two of its board committees to include ESG oversight.
Additional key highlights from this year’s report include:
- Formation of Advancing Health Equity Task Force. In late 2022, iRhythm formed an internal Advancing Health Equity task force to advance health equity and ongoing access to care as well as to address social determinants of health related to cardiovascular disease.
- Focus on talent development and Diversity, Equity, Inclusion, and Belonging (DEIB) leadership. The company launched three new DEIB pillars focusing on hiring, retention, and culture, and further enhanced its focus on DEIB to support a culture of diverse and innovative thought. We are proud that over 48% of employees in 2022 identified as ethnically diverse.
- Progress on climate-related reporting and commitment to future advancement. This year’s report contains iRhythm’s inaugural greenhouse gas (GHG) emissions disclosure – iRhythm disclosed its 2022 Scope 1 and Scope 2 GHG emissions and plans to assess Scope 3 GHG emissions in 2023.
“Reflecting on our ESG journey at iRhythm, we are proud of where we have been and are even more excited by our future,” said Sumi Shrishrimal, Executive Vice President and Chief Risk Officer. “At iRhythm, we strive to improve lives while adhering to the highest standards of integrity, remaining true to our values, and enhancing the well-being of our patients, employees, customers, and communities. This is an important part of achieving our mission and driving value for shareholders. At iRhythm, we’re working to put ESG at the heart of our business.”
iRhythm’s 2022 ESG Report is aligned with disclosure topics included in the SASB Medical Equipment & Supplies Standard and includes certain relevant accounting metrics from additional SASB standards. iRhythm’s ESG initiatives are overseen by the Board of Directors.
To view the full report and learn more about the company’s sustainability efforts, visit the ESG page available on the investors section of the Company’s website at investors.irhythmtech.com.