“Our purpose is to improve the health and well-being of 2 billion people a year by 2025, as we aim to grow Philips responsibly and sustainably,” said Frans van Houten, CEO of Royal Philips. “We continuously challenge ourselves with ambitious environmental, social and governance targets. It is very rewarding that the efforts of our 81,000 employees and partners have once again been recognized by the prestigious Dow Jones Sustainable Index. I am proud that we were able to further enhance our performance in many key dimensions, and we have a strong base for further improvement.”
Philips is set to achieve all of the targets of its ‘Healthy people, Sustainable planet’ 2016 – 2020 program. This includes becoming CO2-neutral in its operations and generating 70% of its sales from green products and services with 15% from circular economy solutions. Building on these achievements, Philips recently launched a new framework comprising a comprehensive set of key targets and commitments across all the Environmental, Social and Corporate Governance (ESG) dimensions. These include a commitment to improving the health and well-being of 2 billion people a year by 2025 through its innovations. Philips also commits to 100% EcoDesign, expanded renewable energy sourcing, and ensuring transparency regarding its tax contribution for all countries it operates in.
Philips holds a top position in the Sustainalytics rankings, and recently took second place in the Wall Street Journal’s 100 Most Sustainably Managed Companies in the World. Earlier this year, Philips was awarded the IEEE Spectrum ‘Technology in the Service of Society’ award for its app-based Lumify point-of-care ultrasound solution as the technology having the greatest potential to provide the most overall benefit to humankind.