Philips Targets 25% Revenues From Reused, Recycled Products By 2025
September 14 2020 - 4:03AM
Dow Jones News
By Maitane Sardon
Koninklijke Philips NV on Monday outlined new sustainability
goals including its plan to increase revenue from low-waste
activities to 25% of its sales by 2025.
The Dutch medical-technology company said over the next five
years it will focus on reusing and recycling resources so a quarter
of its sales come from circular products and services. In 2019
Philips generated 19.5 billion euros ($23 billion) in sales.
Philips said it will design all of its new products making sure
these can be recycled or reused. To do so, the company said it will
invest in sustainable innovation, extend its trade-in program to
all its professional medical equipment and embed circular practices
at its sites.
The company also said it will target 75% energy consumption from
renewable sources by 2025, up from 36% in 2015.
Philips added it aims to have at least 30% of women in senior
leadership roles by the end of 2025. Women currently make up almost
a quarter of its senior management team, it said.
The company said it is on track to achieve its previous
sustainability targets by the end of this year, including
generating 70% of its sales from green products and services,
having CO2-neutral operations and recycling 90% of its operational
waste.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
September 14, 2020 04:48 ET (08:48 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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