Philips Rated Top Climber In Sustainability Reporting Leaders
Proof that sustainability is being successfully embedded throughout the company
November 17, 2006 - Amsterdam, The Netherlands – Royal Philips Electronics (NYSE: PHG, AEX: PHI) has been rated the top climber among the ’Leading 50’ companies in the latest biannual survey of leading practice in corporate sustainability reporting. Philips now ranks number 12 in the survey, up from 39 in 2004, an improvement of 54%.
Philips earned top scores in reporting on governance and strategy, illustrating that its efforts to embed sustainability throughout the organization are taking hold. In what it calls ’The Corporate DNA test,’ Tomorrow’s Value explains that: “Philips describes how its business strategy links to work it is doing in different markets, and how it is innovating to improve its contributions to sustainable development.”
The report is published by SustainAbility in partnership with the United Nations Environment Programme (UNEP) and Standard and Poor’s. Entitled Tomorrow’s Value, the survey ranks the world’s leaders in corporate sustainability reporting, transparency and disclosure.
The survey notes that: “Value creation is increasingly surfacing as a theme in reports and their titles, as in the 2005 Philips report Creating value.” According to the survey: “Leadership companies – including BP, BT, GE and Philips – are shifting the focus of their sustainability strategy away from risk management, towards a more progressive and entrepreneurial approach that seeks to identify the sustainability opportunities for strategic innovation and market building. However the pioneers are a minority, representing 28% of our Leading 50.”
Barbara Kux, Chair of the Philips Corporate Sustainability Board stated: “We are very pleased about this recognition for our Sustainability work. I would like to personally congratulate our employees around the globe who work with passion and dedication each and every day on sustainability. The performance covered in our report is the direct result of our engagement and commitment.”
Mrs. Kux also explained that this pursuit of growth and innovation is an important part of Philips’ ongoing efforts. “Sustainability is at the heart of our strategy and values. We will continue to implement our Sustainability program, focusing as it does on business opportunities, of which a great example is the effort our Lighting division is putting into energy saving solutions.”
To achieve sustainable growth today and in the future, exploring new markets, new partnerships and new business models are imperative for Philips. With a strong focus on tomorrow’s challenges, Philips is taking sustainability further than social, environmental and economic performance, equating sustainability with business opportunity.
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 126,000 employees in more than 60 countries worldwide. With sales of EUR 30.4 billion in 2005, 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 www.philips.com/newscenter.
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- Jeannet Harpe
- Philips Corporate Communications
- Royal Philips Electronics of the Netherlands
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