Submitted by: Royal Philips Electronics
Categories: Socially Responsible Investing
Posted: Sep 25, 2007 – 01:30 PM EST
Sep. 25 /CSRwire/ -
AMSTERDAM, THE NETHERLANDS - September 25, 2007 - Royal Philips Electronics (AEX:PHI, NYSE:PHG) announced today that by 2012, it aims for 30% of total revenues to come from Green Products, compared with 15% of group sales in 2006. This commitment is part of Philips' latest EcoVision program that focuses on reducing the energy consumption of its products and facilities.
Philips' fourth EcoVision program also aims to increase the energy efficiency of its operations by 25% and double its investment in green innovations to EUR 1 billion in the next five years. These targets mean that by the end of 2008 all the company's offices will be outfitted with energy efficient lighting systems and that further reductions in greenhouse-gas emissions will be realized in production and distribution. Furthermore, the company is calling on its employees to be environmentally aware on a day-to-day basis in their working environment.
Philips Green Products have a significant improved environmental advantage for customers, users and society in one or more of the Philips green focal areas: energy consumption, packaging, hazardous substances, weight, recycling and lifetime reliability.
Gerard Kleisterlee, President and CEO of Philips said in a letter to employees: "We believe that big changes start small and that every one of us should contribute to saving our planet. What's more, we are convinced that those companies that combine the principles of economic growth and environmental stewardship will be the winners of the future and offer long term rewards to you, our employees, and to our customers, partners and shareholders."
Barbara Kux, member of the Group Management Committee and chair of the Sustainability Board said: "We want to be a company that provides solutions to complex problems such as sustainable development. Sometimes these solutions will be simple; sometimes they will require more comprehensive approaches. But one thing that is sure is that environmental stewardship and a commitment to energy efficient innovations will be a key characteristic of our development over the coming years and will create value both for our planet and for our company."
Besides providing energy efficient lighting solutions, Philips has a Green Product portfolio consisting of medical equipment, consumer electronics, and household and personal care goods. Philips' campaign www.asimpleswitch.com communicates to the public at large that solutions in energy management can be simple and easy to implement. Visitors to the website have pledged to switch over 3.3 million incandescent light bulbs to energy saving alternatives since the campaign started in early July this year.
Philips also improved its environmental performance in the Dow Jones Sustainability Indexes for the fourth consecutive year this month, making the company the global leader in the sector "Personal and Household Goods", a recognition which shows that Philips continues to capitalize on the growing demand for energy efficient and eco-friendly products.
For further information please contact:
Arent Jan Hesselink
Philips Corporate Communications
Tel: +31 20 59 77415
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs approximately 125,800 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2006, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at http://www.philips.com/newscenter.
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