Philips announced that it has made solid progress in its EcoVision program which sets sustainability performance targets for the end of 2015.
Philips reported that its Green product sales in 2011 now total 39% and are well on track to reach the target of 50% in 2015. The Healthcare sector achieved the highest Green Product nominal sales growth with 25%, while Lighting introduced over 4,000 new Green Products in 2011.
Jim Andrew, the recently appointed Chairman of the Sustainability Board and Philips Chieft Strategy & Innovation Officer said: "Despite the challenging economic environment, sustainability continues to be an integral part of Philips' strategy. In 2011 we invested EUR 479 million in Green Innovation dedicated to addressing global challenges related to care, materials and energy efficiency."
"Our aim is to make the world healthier and more sustainable through innovation and we are pleased to report that in 2011 we already touched over 465 million lives mainly through the use of our Healthcare solutions," Jim Andrew elaborated.
Efforts in Consumer Lifestyle focused on closing the materials loop through launching products such as the EcoCare steam iron, which is made from 30% recycled materials. Furthermore, our sustainability performance in 2011 led to us achieving super-sector leadership in the Personal and Household Goods category in the Dow Jones Sustainability Index, as well as achieving the highest scores in the Carbon Disclosure Project.
In 2011, Lighting accounted for over 60% of the total spend on Green Innovation with the investment of a record amount of EUR 291 million. Drawing on more than 100 years of experience in lighting, Philips introduced CityTouch: an online outdoor lighting management system that enables dynamic control on a city-wide scale and provides light precisely at places and at times when needed. When combined with LED lighting, CityTouch can achieve up to 70% savings in energy and up to 70% in maintenance costs compared to conventional lighting.
By 2015 Philips aims to invest EUR 2 billion in Green Innovation to accelerate sustainable business across the company's three sectors.
The Philips 2011 sustainability update is an integrated part of the Philips 2011 Annual Report available at: www.philips.com/annualreport2011