Philips again recognized with prestigious ‘A’ score for its climate action leadership
December 7, 2021
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that the company has been recognized for its climate action leadership by global environmental non-profit CDP. Thanks to its actions to cut emissions, mitigate climate risks, and develop the low-carbon economy, Philips has secured a place on CDP’s ‘A List’ for the ninth consecutive year.
“With health systems and consumers increasingly committed to making more sustainable choices and to climate action, we remain convinced that doing business sustainably is the only way forward,” said Frans van Houten, CEO of Royal Philips. “Our ongoing actions to embed sustainability in our solutions, our operations and across the supply chain, have once again been recognized with a place on CDP’s prestigious benchmark. I am proud that the creativity and inspiration of our global workforce continues to make a difference in creating a healthier and more sustainable world.”
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. Its scoring methodology assesses companies on the comprehensiveness of their disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
To achieve its vision of making the world healthier and more sustainable through innovation, Philips employs a comprehensive set of commitments across all the Environmental, Social and Governance (ESG) dimensions that guide the execution of company strategy. Philips is already carbon neutral in its operations and is set to further reduce its CO2 emissions in line with 1.5°C global warming, for example by further improving the energy efficiency of its products during the customer use phase and teaming up with customers and stakeholders to decarbonize healthcare. The company has also set ambitious circular economy objectives, such as generating 25% of its revenue from circular products, services and solutions by 2025. Philips is also taking action to drive significant reduction of greenhouse gas emissions in its supply chain.
The company’s longstanding commitment to doing business responsibly and sustainably has received widespread recognition. For example, Philips has achieved top positions in the global Dow Jones Sustainability Indices and Sustainalytics rankings, and the company was awarded a top ESG score of 90 out of 100 by S&P Global Ratings. Moreover, Philips was the first health technology company to have its carbon emission targets for the 2020 - 2040 period assessed and approved by the Science-Based Targets initiative (STBi).
More information about how Philips is partnering with stakeholders to drive environmental, social and governance priorities and make a global impact, is available here.
For further information, please contact:
Philips Global Press Office
Tel: +31 610 558 116
Philips Investor Relations
Tel.: +31 20 59 77055
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, 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 2020 sales of EUR 17.3 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.