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Philips makes progress in its green initiative
By siliconindia
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Tuesday, 23 February 2010, 19:24 IST
Amsterdam: Philips Electronics announced that it has made significant progress in its EcoVision4 program launched in 2007, which set targets for green sales, green innovation investments and for increased operational energy efficiency by the end of 2012.
Philips reported that 31 percent of total 2009 sales stemmed from the sale of Green Products1, three years ahead of schedule, and expects to reach the 50 percent mark by 2015. The company will reach its Green Innovation investment target of a cumulative Euro 1 billion in 2010 and is well positioned to deliver on its 25 percent operational energy efficiency improvement commitment."The fact that we are so far ahead of what we set out to achieve in late 2007 with EcoVision4, shows that sustainability truly is a driving factor in Philips' business strategy," said Rudy Provoost, Chairman of Philips' Sustainability Board and CEO of Philips Lighting.
Under the EcoVision5 program, Philips announced its 2015 sustainability targets, based on the global trends to which the company can offer meaningful solutions. By 2015, Philips aims to improve the energy efficiency of its overall product portfolio by 50 percent. Lighting accounts today for 19 percent, or nearly one fifth, of the world's total energy consumption. Philips also aims to double the collection and recycling of its end-of-life products, as well as the amount of recycled materials used in Philips products by 2015.
