| Electronics giant Philips has announced
that it generated almost a third of its revenue from 'green
products' last year, reaching its target for sales of energy
efficient and environmentally friendly technologies three years
ahead of schedule.
Philips
reported it was set to achieve its target of investing €1bn
in the development of green technologies before the end of
this year. It also said that it was well positioned to meet
its target of improving operational energy efficiency by 25
per cent.
The company classifies products as green using an internal
scoring system that analyses their energy efficiency, packaging,
hazardous substances, weight, recycling and disposal and lifetime
reliability. For a product to be regarded as 'green'
it has to boast a better score - by at least 10 per cent -
in one or more of the metric areas, when compared to a competitor
equivalent or predecessor product.
Rudy Provoost, chairman of Philips' Sustainability Board
and chief executive of the company's lighting division, said
the fact that targets set out in 2007 had been reached in
around half the time scheduled "shows that sustainability
truly is a driving factor in Philips' business strategy".
The announcement came as Philips debuted its latest EcoVision5
strategy - featuring a range of new environmental
targets for 2015, including an eye catching commitment to
improve the energy efficiency of its overall product portfolio
by 50 per cent.
The target is expected to be achieved in large part through
the roll out of energy efficient LED
lighting technologies across the company's flagship
lighting portfolio.
Philips also upgraded its target for green product sales
to account for half of all sales by 2015 and said that it
would aim to double the collection and recycling of its end-of-life
products, as well as the amount of recycled materials used
in Philips products, by 2015.
"Given the need for ambitious approaches in this area, we
will continue to set such targets and to deliver upon them,"
said Provoost.
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