Ramsay Health Care : 2023 Impact Report

Caring for our People, Planet and Communities

Ramsay Health Care Impact Report 2023

Contents			Introduction
			Ramsay Health Care's long-term
About Ramsay	3
	commitment to sustainability is driven
Our Sustainability Approach	6		through the Ramsay Caresstrategy.
			Ramsay Cares outlines our sustainability goals and
Caring for our Patients	15
	targets which focus on supporting three pillars:
			1.	Healthier people
Caring for our Partners	22
	2.	A thriving planet	"I am proud to see the Ramsay Cares
			3.	Stronger communities.
Caring for our People	24		The strategy operationalises Ramsay's intention to have	strategy continues to drive strong
			a positive impact now and into the future.	progress towards our vision of being
			a sustainable, resilient and responsible
Caring for our Planet	33
	This report provides an overview of how we progressed
	global business.
			the Ramsay Cares goals in our Australian, United
Caring for our Community	44		Kingdom, European and Asian joint venture operations	Over the past 12 months, our people have worked
	during the financial year ending 30 June 2023.	with our doctors, suppliers and other important
			It covers material sustainability issues that could	partners to help make a tangible difference by
Sustainability Disclosures	51
	influence the value that Ramsay Health Care creates for	improving Ramsay's impact on the planet and
Important notices and disclaimer			stakeholders over the short, medium and long-term.	supporting the wellbeing of our communities.
		This report has been prepared with reference to the	Pleasingly, Ramsay's global net zero emissions
This document has been prepared by Ramsay Health Care Limited ACN 001 288	Global Reporting Initiative (GRI) Standards and has been	ambition is on track for 2040 and, as you will see
768 (Ramsay) for inclusion on Ramsay's website. The document is based on
informed by the Sustainability Accounting Standards	in this report, we are continuing to invest in a wide
information available at the time of preparation and which is general in nature and
should be read with Ramsay's other periodic reports and disclosures, in particular	Board (SASB) healthcare sector guidance and the	range of programs that reduce consumption and
the 2023 Annual Report and 2023 Corporate Governance Statement. The Impact	recommendations of the Taskforce on Climate-related
Report contains forward-looking statements, including statements regarding	waste in our hospitals and services.
climate change and other sustainability issues for Ramsay. These statements reflect	Financial Disclosures (TCFD). The assurance statement	The impacts of climate change are an increasing
Ramsay's expectations at the date of this Impact Report but are subject to a range	can be found on page 56.
of risk factors and uncertainties. Many factors could cause outcomes to differ,	challenge for our communities and our business
possibly materially, from those expressed in the forward-looking statements. These
factors include general economic conditions; changes in government and policy;			but we believe that, with the right strategy and a
actions of regulatory bodies and other governmental authorities such as changes			group-wide commitment to supporting the UN Global
in taxation or regulation; technological changes; the extent, nature and location of
physical impacts of climate change; and geopolitical development. Ramsay will not			Compact, we can help create a sustainable future
be liable for the correctness and/or accuracy of the information, nor any differences
		that benefits everyone."
between the information provided and actual outcomes, and reserves the right to
change its projections from time to time. Except as required by applicable laws or
regulations, Ramsay does not undertake to publicly update or review any forward-			Craig McNally
looking statements, whether as a result of new information or future events. Ramsay
cautions against reliance on any forward-looking statements. The Impact Report			Managing Director & Global CEO
is for informational purposes only and is not a product disclosure statement or
prospectus, financial product or investment advice, or a recommendation to acquire
securities. Certain information contained in this document is based on information
prepared by third parties (for example the environmental data). Ramsay has not	The United Nations Global Compact calls on companies to align their operations and strategies with ten universally accepted principles in
prepared and is not responsible for this third-party material and accordingly Ramsay
the areas of human rights, labour, environment and anti-corruption. Ramsay Health Care is also committed to driving action on the relevant
does not make any representation or warranty that this third party material is
accurate, complete or up-to-date.			UN Sustainable Development Goals, a global blueprint to achieve a better and more sustainable future.

Ramsay Health Care Impact Report 2023 2

Ramsay	About
Approach	Our Sustainability
Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

About Ramsay

Ramsay Health Care is trusted by millions of patients every year to provide modern, safe, high-quality healthcare at hundreds of hospitals, clinics and community services across ten countries.

Ramsay was founded in 1964 by successful Australian businessman and philanthropist Paul Ramsay AO (1936-2014), who instilled our enduring purpose of 'people caring for people'.

The business is now one of the largest and most diverse private healthcare companies in the world, with operations in Australia, the United Kingdom, Europe and Asia.

Ramsay's world class hospital network is complemented by a growing range of day surgery and emergency centres, primary care clinics, mental health and rehabilitation services, pharmacies, diagnostics and imaging centres.

To provide more choice and convenience for more patients, we are also investing in a growing range of multidisciplinary in-home, incommunity and virtual healthcare services.

Ramsay's unique caring culture and commitment to clinical excellence mean we attract and support more than 90,000 of the best people working in healthcare.

In partnership with thousands of specialist doctors and clinicians, our globally-connected network of facilities and services is focused on providing the best possible care, when and where our patients need it.

Australia	Europe
ramsayhealth.com.au	ramsaysante.eu
United Kingdom	Asia
ramsayhealth.co.uk	ramsaysimedarby.com
elysiumhealthcare.co.uk

Craig McNally

Managing Director &CEO

Carmel Monaghan
Ramsay Australia CEO				Colleen Harris
	Martyn Roberts
		Group Chief	Group Chief
		Financial O•cer	People O•cer
Pascal Roché
Ramsay Santé CEO
Nick Costa		Prof Sir Ed Byrne	Dr Rachna Gandhi
	Group Chief	Group Chief Data
Ramsay UK CEO
	Medical O•cer	& Digital O•cer
Joy Chamberlain
Elysium Healthcare CEO		Andrew Wearne	Henrietta Rowe
		Group Chief	Group General Counsel
		Risk O•cer	& Company Secretary
Peter Hong
Ramsay Sime Darby CEO

Ramsay Health Care Impact Report 2023 3

Ramsay	About
Approach	Our Sustainability
Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Our values

Ramsay Health Care is synonymous with the phrase 'people caring for people'.

Our success is underpinned by strong, collaborative relationships with our employees and doctors and a focus on providing modern, sustainable healthcare services.

We are committed to:

• listening and responding to the needs of our people, patients and doctors
• being an employer of choice through modern workplace practices
• maintaining the highest standards of quality and safety across all our operations.

New Code of Conduct

Ramsay released a new global Code of Conductthis year.

Just as The Ramsay Way steers our daily approach to work, the Code sets out very clear expectations and understandings to ensure all our people know the right way to behave, take action and do our work.

Everyone at Ramsay is required to learn and comply with the Code of Conduct. It explains our responsibilities, sets standards, provides guidance and promotes safe behaviour.

"People. It's all about people, especially in the healthcare business."

Paul Ramsay AO

(1936-2014)

Founder, Ramsay Health Care

The Ramsay Way

People are at the heart of our success. As 'people caring for people' there are three key ways we approach our work every day.

We value strong relationships

Healthy working relationships lead to positive outcomes for all.

We look out for the people we work with and we respect and recognise them. Strong, healthy relationships are the foundation of our stakeholder loyalty.

We aim to constantly improve

We do things the right way.

We enjoy our work and take pride in our achievements.

We are not afraid to challenge the status quo to find better ways.

We seek to grow sustainably

Maintaining sustainable levels of profitability is only part of our success.

We prioritise long-term success over short-term financial gains because we care about our people, our community and our planet.

Read more about our purpose and values

Ramsay	About
Approach	Our Sustainability
Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Ramsay Health Care Impact Report 2023 4

How we make a difference

We create value for our stakeholders by investing in and leveraging our key drivers to create an integrated, efficient and sustainable healthcare services platform delivering:

• safe, high-quality patient experiences and outcomes
• an industry-leading environment for our employees and clinicians
• a supportive and effective service for our payors.

Ramsay Health Care Impact Report 2023 5

Ramsay	About
Approach	Our Sustainability
Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Our Sustainability Approach

Ramsay	About
Approach	Our Sustainability
Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Ramsay Health Care Impact Report 2023 6

Sustainability strategy

Ramsay believes a great company is one that makes the world a better place.

We know sustainability is important to our people, our patients, our doctors and our success. We are committed to making a meaningful, positive difference in the world.

The Ramsay Cares sustainability strategy is our shared approach to being a sustainable, resilient, responsible global business.

Ramsay Cares focuses on three important pillars:

Along with strong, transparent corporate governance practices, our sustainability goals support delivery of our corporate plan and Ramsay's broader business strategy.

Sustainable finance

Sustainability-focused approaches were incorporated into a number of our financing activities from 2021, including refinanced syndicated debt facilities for both the Funding Group ($1.5 billion multi-currency syndicated sustainability linked loan facility in May) and Ramsay Santé (€1,650m syndicated debt facility in April 2021).

The debt facilities have embedded sustainability targets that are aligned
with the Ramsay Cares strategy and designed to drive a strong focus
on sustainability across the business, including on the mental health
and wellbeing of our people, reducing energy intensity and greenhouse	Learn more about our strategy at ramsayhealth.com/ramsaycares
emissions, and responsible sourcing within our supply chains.

Ramsay	About
Approach	Our Sustainability
Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Ramsay Health Care Impact Report 2023 7

Sustainability roadmap

Ramsay	About
Approach	Our Sustainability

2020

Launch of Ramsay Cares strategy and global approach

New Global Responsible Sourcing approach

Ramsay Santé becomes a mission-driven company

2023

2027	Engage with 80%
	of suppliers by
	spend to encourage
	reduction of

Patients	Caring for our
Partners	Caring for

Improved reporting:

• First GRI aligned report
• First joint Modern Slavery Statement

Updated Code	On-track
of Conduct and	with near-term
diversity and inclusion	emission
approaches	reduction target

	emissions in line
	with science-based
	targets
2030	Reduce greenhouse
	gas emissions
	by 42%

our

Caring for People

our

Launch of Ramsay Cares targets

Sustainability- linked financing

Shared commitments:

• UN Global Compact
• Climate Leaders Coalition
• 40:40 Vision

Expanded reporting:

• Commenced aligning reporting to TCFD recommendations

2021

2022

Updated human rights and modern slavery approaches

Developed Global

Responsible Sourcing

Framework

Committed to aligning with science-based net zero targets

Founding member of Asia-Pacific chapter of Accounting for Sustainability (A4S)

Scope 1+2, baseline

2020

2040

Become a net zero business across our value chain

Scope 1+2+3

Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Ramsay Health Care Impact Report 2023 8

Tracking our goals

Ramsay	About
Approach	Our Sustainability

How we are progressing our sustainability priorities

Clinical quality and excellence	Status	Progress
100% accreditation for our facilities.		Ongoing,
	see p16
Better than national quality benchmarks.		Achieved,
	see p21
Maintain patient experience outcomes.		Achieved,
	see p20

People and culture	Status	Progress
Achieve gender balance with
Board composition		Achieved,
of 40:40:20 by 2025 and
	see p28
maintain senior management
gender composition of 40:40:20.
Strong progress towards top		Partially met,
quartile employee engagement.		see p27
Increase the development of our		Ongoing,
people through the
	see p25
Global Leadership Academy.
Maintain focus on patient safety		Ongoing,
training.		see p30
Maintain workplace safety		Ongoing,
performance.		see p32
Establish Group Mental Health,
Wellness and Resilience		Ongoing
Framework.
Train 3% of the workforce in		On track,
mental health first aid by 2026*.		see p30

*Applies to wholly-owned entities

Climate action and environment	Status	Progress
Maintain recycling rates and identify single-use		Met,
plastic and waste reduction opportunities.		see p42
Identify new water saving opportunities.		Partially met,
	see p39
Achieve a 10% reduction in energy intensity by		Partially met,
2026*.		see p36
Achieve a 12% reduction in greenhouse gas		On track, see p34
emission intensity by 2026*.
Install 6.3MW renewable energy projects by		On track, see p36
2026*.
Undertake a comprehensive review of climate		On track
risk across our regions.
Supporting communities	Status	Progress
Continue to facilitate leading medical research
and clinical trials in our facilities to advance		Ongoing, see p47
patient and community health outcomes.
Partner with a focus on preventative healthcare		Ongoing, see p46
and mental health.
Supporting local communities and promoting		Ongoing, see p45
awareness of the importance of health and
wellbeing.
Responsible sourcing	Status	Progress
Achieve sustainability assessments covering		On track, see p50
80% of external supplier spend by 2026*.
Ramsay Health Care Impact Report 2023 9

Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Material issues

In sustainability terms, the most pressing issues affecting an organisation are known as material issues.

Ramsay's materiality assessment is informed by engaging our stakeholders to understand shared and emerging issues, our key business risks and the Sustainability Accounting Standards Board (now part of the IFRS Foundation) Materiality Map for healthcare delivery.

The issues are reviewed annually by our Global Sustainability Committee. This year's review focused on ensuring the issues were consistent with feedback from more than 20 stakeholder interviews which included employees, doctors, government, funding partners, community groups and suppliers.

The issues were also found to be consistent with themes arising from the extensive stakeholder consultation (2,600 people) which is informing Ramsay Santé's approach to being a mission-driven company. There has been no change to the material issues in FY23.

Read our Sustainability Disclosures at ramsayhealth.com/ ramsaycaresto learn more about how we manage our material issues.

Ramsay	About
Approach	Our Sustainability
Patients	Caring for our
Partners	Caring for our
People	Caring for
	our
Planet	Caring for
	our
Community	Caring for our
Disclosures	Sustainability

Ramsay Health Care Impact Report 2023 10