Philips re-aligns its ‘Lives Improved’ target with the UN 2030 Sustainable Development Agenda following the completion of...
March 28 2019 - 4:00AM
Philips re-aligns its ‘Lives Improved’ target with the UN 2030
Sustainable Development Agenda following the completion of its
portfolio transformation
March 28, 2019
- As of 2019, Philips will no longer include the contribution of
Signify (formerly Philips Lighting) in its Lives Improved
reporting
- Building on the 1.54 billion lives improved globally in 2018,
Philips targets a long-term, average annual Lives Improved growth
rate of around 6% resulting in 3 billion lives improved annually by
2030
- Company targets to improve access to healthcare in underserved
communities to 400 million people a year by 2030
Amsterdam, the Netherlands – Royal Philips
(NYSE: PHG, AEX: PHIA), a global leader in health technology, today
announced that following the completion of its portfolio
transformation to health technology, the company has re-aligned its
Lives Improved target with the time horizon of the United Nations
2030 Sustainable Development Agenda. As of this year, Philips will
no longer include the contribution of Signify (formerly Philips
Lighting) in its Lives Improved methodology. Building on the 1.54
billion lives improved globally in 2018 (excluding Signify),
Philips now targets an ambitious, average annual Lives Improved
growth rate of around 6% for the 2019 – 2030 period, resulting in 3
billion lives improved annually by 2030. Within these 3 billion
lives, Philips targets to improve access to healthcare in
underserved communities for 400 million people a year by 2030.
“By offering innovative solutions and business models that
leverage advances in connected technologies in the consumer health
and professional healthcare domain, we are shaping the future of
healthcare to enable people to lead healthier lives and have better
access to care,” said Frans van Houten, CEO of Royal Philips. “In
addition, we believe that actively supporting the UN Sustainable
Development Goals via our internal and external initiatives will
create a multiplier effect that will positively impact the lives of
3 billion people a year by 2030.”
In 2012, Philips set itself the goal to improve the lives of 3
billion people a year by 2025. Since that time, the company has
undergone significant change, having transformed into a focused
leader in health technology, which has had an impact on its
reporting. Including the contribution of Signify, Philips improved
the lives of 2.24 billion people in 2018. Excluding this
contribution, Philips improved 1.54 billion lives. As a
result, the company has decided to re-align the target date with
the UN Sustainable Development Goals’ time horizon, and now aims to
achieve its 3 billion Lives Improved goal by 2030.
The calculation of lives improved by Philips is a factor of how
many of the company’s active products and solutions are in the
market and the application of statistical data from experts and
market intelligence on the number of people touched in a given year
by products and solutions that contribute to the social or
ecological dimension. After elimination of double counts – multiple
different product and solutions touches per individual are only
counted once – the number of lives improved by Philips is
calculated. More information about the methodology can be found
here.
As part of Philips’ commitment to make the world healthier and
more sustainable through innovation, the company aims to address
pressing societal issues with a focus on the United Nations
Sustainable Development Goals, in particular SDG 3: Ensure healthy
lives and promote well-being for all at all ages, SDG 12: Ensure
sustainable consumption and production patterns, and SDG 13: Take
urgent action to combat climate change and its impacts.
Philips’ commitment to SDG 3 is illustrated by initiatives such
as its Community Life Centers (CLCs), which provide a holistic
approach to improving primary and community care across Africa by
extending new or existing health facilities into social and
economic community hubs.
Philips is on-track to meet its 2020 SDG 12 targets, including
generating 15% of sales from ‘circular economy’ products and
services, and recycle 90% of its operational waste with zero waste
sent to landfill. Moreover, as a founding member of
the Capital Equipment Coalition, Philips is on track to
fulfill its pledge that by 2020 it will take back and
repurpose all the large medical systems equipment that its
customers are prepared to return to it.To promote sustainability
solutions throughout industry, Philips CEO Frans van Houten is
co-chair of the Platform for Accelerating the Circular Economy
(PACE), a public-private collaboration co-founded by Philips and
hosted by the World Resources Institute.
To help address climate change, Philips is committed to becoming
carbon neutral in its entire operations by 2020, sourcing all its
electricity usage from 100% renewable sources. Delivering on that
commitment, in 2018 the company increased its global renewable
electricity share to 90%. In 2019, all of Philips operations in the
US and the Netherlands will be powered by renewable electricity,
which covers more than half of the company’s total electricity
demand. Philips is also the world’s first health technology company
to have its CO2 emission targets for the period 2020 to 2040
approved by the Science Based Targets initiative (SBTi).
Information on Philips’ sustainability strategy and its ‘Healthy
people, sustainable planet’ program can be found here.
For further information, please contact:
Elena Calamo SpecchiaPhilips Group Press OfficeTel.: +31 6
25004735E-mail : elena.calamo.specchia@philips.com
Ksenija GonciarenkoPhilips Investor RelationsTel.: +31 20 59
77055E-mail: ksenija.gonciarenko@philips.com
About Royal PhilipsRoyal Philips (NYSE: PHG,
AEX: PHIA) is a leading health technology company focused on
improving people's health and enabling better outcomes across the
health continuum from healthy living and prevention, to diagnosis,
treatment and home care. Philips leverages advanced technology and
deep clinical and consumer insights to deliver integrated
solutions. Headquartered in the Netherlands, the company is a
leader in diagnostic imaging, image-guided therapy, patient
monitoring and health informatics, as well as in consumer health
and home care. Philips' health technology portfolio generated 2018
sales of EUR 18.1 billion and employs approximately 77,000
employees with sales and services in more than 100 countries. News
about Philips can be found at www.philips.com/newscenter.
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