February 22, 2011

Philips (NYSE: PHG) aims to invest EUR 2 billion in “green innovation” by 2015, according to the company’s latest sustainability update.
 
The company, which is a leader in the commercialization of LED lighting, said it invested EUR 450 million in green innovations in 2010, achieving its EUR 1 billion investment target two years ahead of schedule.
 
Other 2010 highlights include increased Green Product sales to 38% of overall sales--up from 31% in 2009; reduced its carbon footprint by 7% and increasing overall operational energy efficiency by 6%.
 
In 2010, Philips also made progress with its supplier sustainability program, auditing 273 supplier sites against its supplier sustainability declaration, bringing the total since 2005 to 1,591 full-scope audits.
 
Following a trend in sustainability reporting, this is the first year that Philip’s annual report  will not be available in a print version. From the company website, stakeholders have the opportunity to view or print selected chapters, thereby reducing the environmental impact of producing the report.

Cancel 5000 Your comment has more than 5000 characters. Please delete part of it before submitting. Enter comment text.