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Philips Delivers Strong Sustainability Performance In 2009 And Launches New Targets For 2015
February 23, 2010 12:00 by Aarti Nagraj
PHILIPS DELIVERS STRONG SUSTAINABILITY PERFORMANCE IN 2009 AND LAUNCHES NEW TARGETS FOR 2015
· Philips generates 31% of total revenue sales from Green Products in 2009, reaching target three years ahead of schedule.
· Philips to reach its cumulative EUR 1 billion investment in Green Innovation target in 2010
· Launch of EcoVision5 with ambitious sustainability targets for 2015, including Philips’ ambition to bring care to 500 million people.
Dubai, UAE — Royal Philips Electronics (NYSE: PHG, AEX: PHI) today announced that it has made significant progress in its EcoVision4 program launched in 2007, which set targets for green sales, green innovation investments and for increased operational energy efficiency by the end of 2012. Philips reported that 31% of total 2009 sales stemmed from the sale of Green Products, three years ahead of schedule, and expects to reach the 50% mark by 2015. The company will reach its Green Innovation investment target of a cumulative EUR 1 billion in 2010 and is well positioned to deliver on its 25% operational energy efficiency improvement commitment.
“The fact that we are so far ahead of what we set out to achieve in late 2007 with EcoVision4, shows that sustainability truly is a driving factor in Philips’ business strategy,” said Rudy Provoost, Chairman of Philips' Sustainability Board and CEO of Philips Lighting. “Sustainability is an integral part of our DNA as a Health and Well-being company. Given the need for ambitious approaches in this area, we will continue to set such targets and to deliver upon them.”
Under the program name EcoVision5, Philips announced today its 2015 sustainability targets, based on the global trends to which the company can offer meaningful solutions. These new targets broaden Philips’ approach to sustainability well beyond the ecological footprint, in line with the company’s Health and Well-being strategy.
That is why Philips strives to bring care to more than 500 million people by 2015. This target will be tracked by taking into account all Philips products and solutions which directly address care. An example is the
By 2015, Philips will improve the energy efficiency of its overall product portfolio by 50%. Lighting accounts today for 19%, or nearly one fifth, of the world’s total energy consumption. With LED technology quickly set to become the industry norm, Philips has the insights and capabilities to make a globally significant difference in addressing the energy imperative through its lighting innovations. An illustration of this is Philip’s introduction of the first ever solar-powered LED Floodlighting Solution to
Philips also aims to double the collection and recycling of its end-of-life products, as well as the amount of recycled materials used in Philips products by 2015. Scarcity of material resources, the lack of collection and recycling legislation in certain areas of the world, coupled with growing consumer demand in emerging economies, present the planet with clear ecological risks. Philips’ EcoDesign approach to product development has resulted in such solutions as the Performer Energy Care vacuum cleaner, which is made up of 60% recycled and bio-based plastics. Philips has also been a partner in the development of collection and recycling legislation in the EU. It has expanded its voluntary collection and recycling services started in 2008 both in
For further information please contact:
Philips Middle East & Africa
Tel : +9714 3095155
Email: [email protected]
Notes to the editor about EcoVision4:
After achieving our first three programs which covered the environmental impact of production and development of all our products, we launched EcoVision4 in 2007, formulating the following targets over the period 2007 – 2012:
• Generate 30% of total revenues from Green Products – contributing to the energy efficiency challenge with these products and inspiring individuals to make simple changes that collectively can have profound results.
• Double our investment in Green Innovations to a cumulative EUR 1 billion – focusing on product improvements and on solutions for Green Technology also including reducing the chemical content of our products and designing them better for collection and recycling.
• Further increase the energy efficiency of our operations by 25% – concentrating on energy efficiency and associated CO2 reduction as the main topic of internal sustainability efforts.
About Royal Philips Electronics
Royal Philips Electronics of the
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
 Green Products are defined as those having a better score (by at least 10%) in one or more of our Green Focal Areas, compared to a competitor equivalent or predecessor product. The Green Focal Areas are: Energy efficiency, Packaging, Hazardous substances, Weight, Recycling and disposal, Lifetime reliability. In addition, the LifeCycle approach is used to determine a product’s overall environmental improvement, calculating the estimated environmental impact of a product over its total life cycle