Insulet's 2023 Sustainability Report on Accessibility and Growth

In 2023, Insulet Corporation, a leader in tubeless insulin pump technology, made substantial strides in its sustainability efforts, as detailed in its latest Sustainability Report. The report captures the company's progress in environmental, social, and governance (ESG) domains, emphasizing how sustainability initiatives are creating value for stakeholders.

Jim Hollingshead, Insulet's President and CEO, emphasized the synergy between the company's sustainability goals and customer needs. He highlighted that Insulet's mission to enhance the lives of individuals with diabetes extends beyond addressing health challenges; it also encompasses creating positive community and environmental impacts. This commitment to sustainability is integral to the company's operations.

The report outlines significant advancements in three critical areas: affordability and accessibility, resilient operations, and sustainable product innovation.

In the realm of affordability and accessibility, Insulet expanded its reach with the Omnipod 5 Automated Insulin Delivery System in the U.K. and Germany, now serving around 425,000 active global users. The company also broadened its U.S. financial assistance program, making Pod therapy more accessible to individuals with diabetes. Moreover, Insulet enhanced its coverage through the pharmacy channel, mitigating the typically high initial costs associated with traditional pump therapy.

On the front of resilient operations, Insulet significantly bolstered its renewable energy generation capabilities. A second solar installation at its Acton, Massachusetts facility increased potential renewable energy generation by 802kW. Additionally, the company improved its waste diversion rate from landfill or incineration by 8%, marking a significant step towards more sustainable operations.

In terms of sustainable product innovation, Insulet made notable improvements to its products and packaging. Several cross-functional projects completed in 2023 aimed to reduce manufacturing waste, leading to an annual reduction of approximately 260,000 pounds of plastic and about 46,000 pounds of silicone. The company applied circular design principles to the lifecycle of Omnipod products, including packaging, to minimize waste. Notably, a redesigned Omnipod 5 starter kit was introduced in the U.S., achieving a 77% reduction in the package’s carbon footprint. Insulet also collected 5.9 million Pods through global product takeback programs.

To strategically manage environmental and social topics, Insulet conducted its first comprehensive double materiality assessment in 2023. This assessment, aligned with the E.U. Corporate Sustainability Reporting Directive (CSRD), engaged over 65 stakeholders to evaluate the impact of the company's activities on financial performance, the environment, and society. By recognizing the interconnectedness of these elements, the double materiality assessment offers a holistic view crucial for prioritizing sustainability initiatives and ensuring long-term operational resilience.

Lisa Brady, Vice President of Global Sustainability and Chief Sustainability Officer, emphasized the dedication and innovation of Insulet's teams worldwide. She noted that this commitment extends to sustainability innovation, driving the modernization of the industry and fostering the development of a truly sustainable business.

Insulet Corporation, headquartered in Massachusetts, is dedicated to simplifying life for people with diabetes through its Omnipod product platform. The Omnipod Insulin Management System offers a unique alternative to traditional insulin delivery methods with a simple, wearable design. The Omnipod 5 Automated Insulin Delivery System, the company's flagship innovation, integrates with a continuous glucose monitor to manage blood sugar levels without multiple daily injections, fingersticks, and can be controlled via a compatible smartphone or the Omnipod 5 Controller. The company is also exploring the use of its Pod technology for delivering non-insulin subcutaneous drugs across various therapeutic areas.