Philips receives VBDO Responsible Supply Chain Management Award
The Dutch Association of Investors for Sustainable Development (VBDO) has, for the third time, recognized Philips’ achievements in the area of Responsible Supply Chain Management. Philips is ranked first among the forty largest publicly-listed Dutch companies benchmarked for this award.
“We are very pleased to once again receive this recognition from the VBDO,” commented Maarten de Vries, Chief Supply and Information Officer.
Philips scores have shown continual improvement over the last four years, increasing from 62% in 2006, up to 77% in 2007, 85% in 2008, 90% in 2009 and an impressive 93% in 2010.
In presenting the award to Philips, President of the Social and Economic Council (SER), Rinnooy Kan, commended Philips for its outstanding achievement in receiving the highest score for the fourth consecutive year. In particular, Philips’ thorough and transparent reporting methods were referenced, along with the company’s dedication supporting suppliers in improving their sustainability performance. Mr. Kan also emphasized that, by embedding supplier sustainability within company strategy, Philips demonstrates that sustainability is a key enabler of value creation and growth.
Philips is proud of this recognition, made possible thanks to the diligence of the company’s global Supplier Sustainability team. It is Philips’ intention to expand upon its efforts in this area, by further increasing supplier collaboration and continuing to seamlessly integrate sustainability within the company’s overall strategy.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs more than 118,000 employees in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.
About the VBDO
The VBDO (Dutch Association of Investors for Sustainable Development) aims at generating a sustainable capital market, a market that does not solely focus on financial aspects but also includes environmental and social factors. VBDO is the only organization in the Netherlands representing the interests of sustainable investors. In their annual benchmarking, the publicly available reporting of large publicly listed Dutch companies is analysed to assess their supply chain sustainability performance.
The VBDO benchmarking methodology assesses the performance of Dutch publicly listed companies in the field of Supply Chain Sustainability and determines rankings based on indicators such as Governance & Vision, Policy and Management.
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