Philips has made solid progress in its EcoVision program, which sets sustainability performance targets for the end of 2015. Its Green Product sales in 2011 now total 39 percent and are well on track to reach the target of 50 percent in 2015.

Jim Andrew, the recently appointed chairman of the sustainability board and Philips’ chief strategy and innovation officer, said: “Despite the challenging economic environment, sustainability continues to be an integral part of Philips’ strategy. In 2011, we invested 479 million euros in Green Innovation dedicated to addressing global challenges related to care, materials and energy efficiency. Our aim is to make the world healthier and more sustainable through innovation and we are pleased to report that in 2011, we already touched over 465 million lives mainly through the use of our Healthcare solutions.”

Dated back to 2011, the lighting sector has introduced over 4,000 new Green products, and accounted for over 60 percent of the total spend on Green Innovation with the investment of a record amount of 291 million euros.
 
In addition, Philips introduced CityTouch: An online outdoor lighting management system that enables dynamic control on a city-wide scale and provides light precisely at places and at times when needed. When combined with LED lighting, CityTouch can achieve up to 70 percent savings in energy and up to 70 percent in maintenance costs compared to conventional lighting.

Philips aims to invest 2 billion euros in Green innovation to accelerate sustainable business across the company’s three sectors by 2015.