Henry and Esther Schein opened the doors of their pharmacy in 1932 with a belief that a special culture, deeply-held values, and a commitment to the community would prove a recipe for success. Over nearly nine decades, we've adhered to the idea that "doing good" for the professions and communities we serve allows the Company to "do well." This idea was exemplified by the establishment of our corporate social responsibility program, Henry Schein Cares, in 2001.
Over the past decade, we have further refined our commitment through our higher ambition model and formalizing our ESG strategy into five focus areas: Empowering Team Schein, Advancing Health Equity, Accelerating Environmental Sustainability, Supply Chain Resilience, and Ethical Governance.
In our reporting efforts, we are increasingly guided by the reporting principles and standards of the Global Reporting Initiatives (GRI) and have also begun mapping our disclosures to the Sustainability Accounting Standards Board (SASB) Standards. By 2022, our report will be fully in accordance with the GRI (core option) and SASB Standard. In addition, we are disclosing more information on our climate risks and opportunities according to recommendations made by The Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD), and exploring a pathway to setting a Science-Based Target.