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Philips once again ranked among the world’s top global companies for its commitment to action on climate change

GlobeNewswire

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January 20, 2020

  • Philips on CDP Climate Change A-list for seventh year running
  • Philips recognized for its actions to reduce emissions, mitigate climate risks and develop the low-carbon economy

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has once again been placed on the CDP Climate Change A List [1], making this the seventh consecutive year it has achieved a CDP A-list ranking for its leadership in corporate climate action.

CDP is a not-for-profit organization that runs a global disclosure system for investors, companies, cities, states and regions to help manage their environmental impact. The organization assesses a company’s environmental impact disclosure data against a scoring methodology that rates them on a scale of A to D, with A being the highest possible achievement. Based on its 2019 disclosure to CDP, Philips has been recognized for its actions during the last reporting year to reduce emissions, mitigate climate risks and develop the low-carbon economy.

“The results of the World Economic Forum’s latest Global Risks Report, that environmental threats rank in the top five risks for the coming decade, confirm the concerns we are all having about the devastating effects of climate change,” said Frans van Houten, CEO of Royal Philips. “That’s why Philips is constantly innovating, not only to deliver affordable outcome-focused health technology solutions that will help to achieve universal health coverage, but also to make sure we do it in a sustainable way that minimizes our carbon footprint and natural resource consumption.”

To achieve its vision of making the world healthier and more sustainable through innovation with the goal of improving the lives of 3 billion people a year by 2030, Philips focuses its activities on three key UN Sustainable Development Goals –  SDG3 health and wellbeing for all, SDG12 sustainable consumption and production, and SDG13 action on climate change. The company is committed to having 95% of its business revenues linked to these SDGs by the end of 2020.

Philips’ drive for affordable and effective healthcare delivery is based on a shift from volume-based care (payment per procedure) to value-based care (the best health outcomes for a given cost), using advanced digital technologies such as artificial intelligence and predictive analytics to improve diagnostic accuracy and treatment efficacy, enhance population health management, and maximize the efficient use of resources.

Its strategy for sustainability and action on climate change is embedded in its business model on both the procurement side – for example, through the purchase of green energy – and on the customer side through implementation of circular economy solutions. Philips is now powering 100% of its Netherlands operations with renewable energy, matching the 100% renewable energy target already achieved in the company’s US operations. The company is also on track to deliver on the circular economy commitment it made at the 2018 WEF Annual Meeting that by 2020 the company will take back and repurpose all the large medical systems that its customers are prepared to return to it. As witnessed by CEO Frans van Houten’s co-chairmanship of PACE (Platform for Accelerating the Circular Economy), the circular economy is central to Philips’ vision of making the world healthier and more sustainable through innovation.

“Congratulations to the companies that achieved a position on CDP’s A List this year, for leading in environmental performance and transparency,” said Paul Simpson, CEO of CDP. “The scale of the business risks from the climate emergency, deforestation and water insecurity are vast – as are the opportunities from addressing them – and it’s clear the private sector has a vital role to play at this critical time. The A List companies are leading the market in corporate sustainability, tackling environmental risks and setting themselves up to thrive in tomorrow’s economy.”

CDP’s scoring methodology assesses companies on the comprehensiveness of their disclosure, their awareness and management of environmental risks, and their demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.

Information on Philips’ sustainability strategy and its ‘Healthy people, sustainable planet’ program can be found here.

[1]  The Climate Change A List is published by CDP each year, alongside A Lists for leadership on protecting forests and water security. The full list of companies that made this year’s CDP Climate Change A List is available, along with other publicly available company scores, at https://www.cdp.net/en/companies/companies-scores.

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel.: +31 6 10 55 8116
E-mail: joost.maltha@philips.com

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15 2134 46
E-mail: ben.zwirs@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2018 sales of EUR 18.1 billion and employs approximately 80,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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US: (339)-368-6001
Intl: +1 339-368-6001

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US: (339)-368-6001
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Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

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