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European Climate Pact

Overview

Location

Netherlands

Sector

Pharmaceuticals and biotechnology

Organisation type
Business

Company Information

Royal Philips is a publicly listed, leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum. It is headquartered in Amsterdam,Netherlands. Royal Philips specialises in healthy living and prevention, to diagnosis, treatment and home care. In 2021, the company reported a total of 78,189 employees and a sales revenue of 17,2 billion euros.*

*Source (25.05.2022)

 

Sustainability Mission

At Philips, we are striving to make the world healthier and more sustainable through innovation, with the goal of improving the lives of 2.5 billion people a year by 2030. We will be the best place to work for people who share our passion. Together we will deliver superior value for our customers and shareholders.

At Philips, we recognize the threat of climate change and the effects it can have on human health. That’s why we have committed to being 100% carbon-neutral from 2020 onwards and collaborate with customers and suppliers to continuously drive down emissions to combat climate change. (*)

Our progress towards decarbonization

 

GHG Emissions

North Star

  • Koninklijke Philips NV has a target to reduce absolute Scope 1+2 (market-based) CO2e emissions 75% by 2025 from a base year of 2015
  • Koninklijke Philips NV has a target to reduce absolute Scope 1+2 (market-based) CO2e emissions 90% by 2040 from a base year of 2015
  • Koninklijke Philips NV has a target to reduce absolute Scope 3 (upstream & downstream) CO2e emissions 4% by 2025 from a base year of 2017
  • Koninklijke Philips NV has a target to reduce absolute Scope 3 (upstream & downstream) CO2e emissions 11% by 2040 from a base year of 2017

Pledge: Have an officially validated science-based emissions reduction targets aligned with a 1.5°C scenario (scope 1+2) in line with the SBTi Criteria and Recommendations

MRV: Pact MRV in place

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021

How we want to achieve this – our roadmap

  • Have an internal price on carbon

MRV: Pact MRV in place

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021

 

Energy

North Star

  • Koninklijke Philips NV had a company-wide target to consume 100% of electricity from renewable sources by 2020 from a baseline of 53.0% renewable electricity consumption in 2015. This target was reported as achieved in 2021

Pledge: Have a target for 100% renewable electricity consumption by no later than 2050, in line with the RE100 technical criteria

MRV: Pact MRV in place

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021

 

Water

Our actions – the Pathway

  • Publicly disclose data on water-related impact to investors through a public platform*
  • Have an internal price on water**
  • Commitment to increase stakeholders awareness and education around water security issues**
  • Commitment to align with public policy initiatives, such as the SDGs, related to water security**
  • Commitment to improve water security beyond regulatory compliance**
  • Commitment to water-related innovation**
  • Commitment to water stewardship and/or collective action**

MRV: *Pact MRV in place, **Publicly announced

Status date: Submitted (28/07/2021)

Data source: CDP Water 2021

 

Multi-topic

Our actions – the Pathway

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Implement climate scenario analysis as part of your business strategy setting

MRV: Pact MRV in place

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021