Philips

Philips is a purpose-driven health technology leader aiming to improve the health and well-being of 2.5 billion people per year by 2030, including 400 million in underserved communities.

As an organization, we are conscious of our responsibility towards society and the planet and continue to embed sustainability ever deeper in the way we do business to realize significant environmental and social impact.

Combined with the continued carbon neutrality that was achieved in the company’s operations since end of 2020, including all sites, logistics and business travel, Philips’ increased focus on its Scope 3 (value chain) emissions puts the company firmly in line with the Paris Agreement's 1.5⁰C target. Philips is the first health technology company to have its CO₂ emission reduction targets for Scopes 1, 2 and 3, assessed and approved by the Science Based Targets initiative (SBTi).

Philips has set ambitious targets to drive sustainable and circular innovation. For example, by 2025 we aim to design 100% of our new product introductions in line with Philips' EcoDesign requirements, which includes designing for energy efficiency and circularity, phasing out the use of hazardous substances and reducing the use of scarce resources, materials, and packaging.

Beyond our own operation, we are actively engaging our value-chain partners and customers to embed sustainable and circular ways of working. We are adopting innovative business models, focused on circular economy principles - dematerialising, and maximising the lifetime value of our products and solutions. As part of our Closing the loop commitment, we also take back our large medical equipment for refurbishment, parts harvesting or recycling. And with 40% of our suppliers (based on spend) now committed to science-based targets, Philips is already well on the way to achieving the 50% supplier commitment target for 2025.

Finally, we actively partner with trade associations to harmonize sustainable public procurement practices; with research partners and likeminded peers to scale circularity, as well as supplier sustainability, while advocating clear standards, rules, and guidelines towards creating a level playing field and accelerating decarbonization across the board.

As we progress on our journey delivering continuous results, we clearly demonstrate that embedding sustainability in our core strategy can drive positive change. Creating value and sustainable impact then start to go hand-in hand.