Royal Philips has announced the launch of its new five-year sustainability programme, which aims to achieve 70 per cent of turnover from green revenues and 15 per cent from circular revenues.

The announcement of the drive ‘Healthy people, sustainable planet’ was made during a webinar hosted by the company’s CEO Frans van Houten.

This new programme builds on Philips’ objective to improve the lives of three billion people a year in 2025 by making the world healthier and more sustainable through innovation. The programme objectives are based on three pillars: creating value for Philips’ customers through sustainable solutions, leading by example in its sustainable operations, and multiplying its impact by driving sustainability through its supply chain.

The programme builds on the success of EcoVision, Philips’ sustainability approach that spanned the years 1994 to 2015. In 2015, Philips was recognized as a world leader for corporate action on climate change, achieving a perfect score in the CDP Climate Change survey for the third year in a row, and being named industry leader in the ‘Industrial Conglomerates’ category in the Dow Jones Sustainability Index.

Important targets set in the new programme for 2020 include:

•    70 per cent of turnover from green revenues and 15 per cent from circular revenues
•    Carbon-neutral operations, 100 per cent renewable electricity
•    Enhanced supplier sustainability to deliver structural improvements

“At Philips, we fully embrace sustainability, because of its benefits for society, and because we believe that it is a driver for economic growth. That’s why sustainability is an integral part of our company strategy,” said van Houten.

“Our new programme reflects our commitment to the universally agreed United Nation’s Sustainable Development Goals, especially those to ensure healthy lives and promote well-being for all at all ages, and to ensure sustainable consumption and production patterns. We have set ambitious targets for our innovations, products, solutions, operations and the business partners we work with, to meet those objectives,” van Houten added. – TradeArabia News Service