Among the biggest energy consumers in our modern world are lighting and electronic appliances. The medical field also has a long way to go as far as power management and effectiveness. Through innovation and planning, Philips electronics company is doing their share to make life better and more green at the same time, particularly in the areas of health care appliances, lighting and electronics. They are doing this by investing time, money and intellectual capital in a variety of initiatives.
Philips appliances already has years invested in a sustainability strategy. In 2009 the company evaluated that green plan and made a firm commitment to incorporate their sustainability efforts into an overall corporate strategy. They intend their sustainability strategy to be part of their company growth plan and officially dedicated their 2010 management agenda to sustainability. Philips has an interesting list of plans for these initiatives. Let’s look at their plans, where they are now in their sustainability process, and how they plan to move forward.
Philips Plans for the Future Philip has built a reputable brand of health care, electronics and appliances, promising their brand to deliver “sense and simplicity.” In their efforts to build a sustainable business process Philips has committed to three main sustainability performance indicators. Specifically, Philips set a goal to do the following:
- Bring care to more than 500 million people. Philips seeks to find some way to touch the lives of at least 500 million people by the year 2015. This initiative will be pioneered by the Philips heath care sector.
- Improve energy efficiency of Philips products. The company has made a firm commitment to energy efficiency. Specifically, they have set a goal of improving their average products’ energy performance by 50% by the year 2015, as compared to the energy usage of 2009 products. This will be pioneered by Philips lighting sector.
- Close the materials loop. Philips has dedicated to recycling and trash reduction. Specifically, they plan to double global recycling collection in 2015 products, compared to 2009 products. This will be pioneered by Philips consumer lifestyles sector.
Making Great Strides Philips recently announced that its green product sales are steadily climbing. In 2011 green sales totaled 39% and the company is on track for their target of 50% green sales by 2015. The health care portion of Philips is making the highest green strides, while lighting is excelling in new products, introducing 4,000 new green products in 2011.
In the health care sector Philips has already made great advances, touching the lives of over 465 million people. One giant leap here was a wearable patient monitor that uses 85% less power than traditional monitors and lets doctors keep a close eye on their patients.
Efforts in better material usage include launching a line of EcoCare products which are made from recycled materials. In 2011 they launched the EcoCare steam iron, made of 30% recycled materials.
Lighting was a major focus of Philips in 2011, as 60% of their total green innovation investment went into this sector. A large part of this imitative was developing city lighting which combines LEDs and electronic management to precisely light a city, efficiently.
Serving as an Example to Others Philips Sustainability Chairman and Chief Strategy and Innovation Officer, Jim Andrew, recently affirmed that Philips is still firmly committed to sustainability. He said that despite the challenging economic times his company remains committed and in fact invested hundreds of millions of dollars into green initiatives in 2011. These investments are meant to address global issues related to health care, material waste and energy efficiency. The Philips dedication to sustainable business sets a great example to other companies. Philips is learning that good business and environmental responsibility can go hand in hand.