Royal Philips (NYSE:PHG) announced today that it received recognition from environmental non-profit CDP for its climate action leadership.
Through its efforts in cutting emissions, mitigating climate risks and developing the low-carbon economy, Philips was included on CDP’s “A List” for the ninth consecutive year, according to a news release.
CDP’s 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, including setting ambitious and meaningful targets.
Philips said it is already carbon neutral in its operations with intentions to further reduce its CO2 emissions in line with 1.5°C global warming. Efforts include improving the energy efficiency of its products during the customer use phase and teaming up with customers and stakeholders to decarbonize healthcare.
Goals for the future include circular economy objectives, such as generating 25% of its revenue from circular products, services and solutions by 2025 and taking action to drive a significant reduction of greenhouse gas emissions within Philips’ supply chain.
“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,” Philips CEO Frans van Houten said in the release. “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.”