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February 23, 2021
- Philips is without doubt one of the first well being expertise corporations on the earth that has turn out to be absolutely carbon impartial in its operations
- New built-in Environmental, Social and Governance framework with targets and motion plans builds on present success to boost the bar for the corporate’s ESG efficiency over the subsequent 5 years
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a world chief in well being expertise, at the moment introduced that it efficiently met all of the targets set out in its 2016 – 2020 ‘Wholesome folks, Sustainable planet’ program. Key achievements of this system embody carbon neutrality in its operations, 100% electrical energy from renewable sources, over 70% of gross sales from Inexperienced Merchandise and Providers [1], 15% of gross sales coming from round revenues, recycling 90% of its operational waste, and sending zero waste to landfill.
“I’m happy that we have now delivered on all of the targets set out in our Wholesome folks, Sustainable planet program, making Philips one of many first well being expertise corporations on the earth that has turn out to be carbon impartial in its operations,” mentioned Frans van Houten, CEO of Royal Philips. “Our present built-in ESG framework builds on this success, and we’re decided to affix forces with all mandatory stakeholders, private and non-private, to drive environmental, social and governance priorities and generate world influence. With the COVID-19 pandemic and local weather change exposing the dangers when it comes to folks’s well being and entry to high quality healthcare, we’re dedicated to constructing inclusive and resilient healthcare programs, whereas decreasing our dependency on pure assets.”
Philips’ Environmental, Social and Governance replace is an integral a part of the Philips Annual Report 2020, which was published earlier at the moment. Highlights embody:
Environmental:
- Renewable vitality sources: Via consortium-led virtual Power Purchase Agreements, Philips is securing renewable electrical energy provide to energy its European operations.
- Round economic system: Philips performs a number one function within the Platform for Accelerating the Circular Economy (PACE), setting world Action Agendas and driving change to embed round pondering and methods of working. As a part of its dedication to the World Financial Discussion board (WEF) Capital Equipment pledge, Philips has delivered on its dedication to shut the loop for giant medical programs tools by providing a trade-in for all offers that the corporate received across the globe, repurposing/recycling parts and supplies in a accountable method to enhance extra lives with out additional depleting the world’s pure assets.
- Provide chain: Philips works with suppliers to additional scale back their carbon emissions by supporting functionality constructing and contributing to transparency and effectivity within the provide chain. This method has improved the sustainability efficiency of suppliers that entered this system in 2019 by 36% in comparison with final 12 months.
Social:
- Lives improved: In 2020, Philips’ merchandise and options improved the lives of 1.75 billion folks. This determine contains 207 million folks in underserved communities. To this finish, Philips can be teaming up with governments, NGOs and hospitals. For instance, Philips partnered with the African Union to offer medical tools and experience to assist meet the instant wants of medical practitioners and COVID-19 sufferers.
- Provide chain: Philips’ packages have improved the lives of 302,000 staff in its provide chain in 2020.
- Truthful and inclusive office: Philips’ common worker engagement rating for 2020 was 79%. Philips’ worker survey persistently experiences that its worker engagement is on the rise and nicely exceeding the worldwide high-performance norm of 71%. Furthermore, gender variety in senior management positions was 27% by the tip of 2020, exceeding Philips’ goal of 25%.
Governance:
- Philips has a powerful observe file of transparency in its plans, actions and reporting. For instance, all Philips’ ESG knowledge is externally audited on the highest degree. Moreover, along with the corporate’s customary disclosures on tax contributions in its Annual Report 2020, Philips at the moment printed its first Nation Exercise and Tax Report 2020 detailing its tax contributions for all international locations it operates in
Elevating the barAs a part of its ongoing dedication to creating the world more healthy and extra sustainable by innovation, Philips will proceed to construct on the success of this system with an enhanced and absolutely built-in method to doing enterprise responsibly and sustainably. As announced final September, this new framework includes a complete set of targets, commitments and motion plans throughout all of the Environmental, Social and Governance dimensions that can drive additional development whereas appearing responsibly in the direction of the planet and society.
Human Rights ReportAs we speak, Philips additionally printed its newest Human Rights Report 2020, which accommodates details about the corporate’s progress with regard to figuring out and mitigating (potential) antagonistic human rights impacts in Philips’ personal operations and its worth chain. Furthermore, Philips issued new coverage statements on human rights, honest employment, and inclusion and variety, protecting points resembling equal alternative, honest and equal pay, office harassment/intimidation, baby labor, compelled labor, and dealing time directives.
International recognitionPhilips acquired additional recognition for its ESG efficiency: high positions within the Dow Jones Sustainability Index, and Sustainalytics rankings; eight consecutive years on the CDP Climate Change A-list; greenhouse gasoline discount targets permitted by the Science Based Targets initiative. Philips additionally achieved second place in 2020 on Wall Street Journal’s 100 Most Sustainably Managed Companies in the World.
[1] Inexperienced Revenues are generated by merchandise and options that supply a major environmental enchancment in a number of Inexperienced Focal Areas: Vitality effectivity, Packaging, Hazardous substances, Weight, Circularity, and Lifetime reliability. Inexperienced Revenues elevated to EUR 13.9 billion in 2020, or 71.0 % of gross sales (67.2% in 2019), reaching a file degree and exceeding the 2020 goal of 70%.
For additional data, please contact:
Ben ZwirsPhilips International Press OfficeTel.: +31 6 15213446E-mail: ben.zwirs@philips.com
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a number one well being expertise firm centered on bettering folks’s well being and well-being, and enabling higher outcomes throughout the well being continuum – from wholesome residing and prevention, to prognosis, remedy and residential care. Philips leverages superior expertise and deep medical and client insights to ship built-in options. Headquartered within the Netherlands, the corporate is a frontrunner in diagnostic imaging, image-guided remedy, affected person monitoring and well being informatics, in addition to in client well being and residential care. Philips generated 2020 gross sales of EUR 19.5 billion and employs roughly 82,000 staff with gross sales and companies in additional than 100 international locations. Information about Philips might be discovered at www.philips.com/newscenter.
Supply: Royal Philips
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