Philips says that by 2012 it wants 30 percent of total revenues to come from green products, compared with 15 percent of group sales in 2006. This commitment is part of Philips’ latest EcoVision program that focuses on reducing the energy consumption of its products and facilities.
Philips’ fourth EcoVision program also aims to increase the energy efficiency of its operations by 25 percent and double its investment in green innovations to EUR 1 billion in the next five years. These targets mean that by the end of 2008 all the company’s offices will be outfitted with energy efficient lighting systems and that further reductions in greenhouse-gas emissions will be realized in production and distribution.
Gerard Kleisterlee, President and CEO of Philips said in a letter to employees: “We believe that big changes start small and that every one of us should contribute to saving our planet. What’s more, we are convinced that those companies that combine the principles of economic growth and environmental stewardship will be the winners of the future and offer long term rewards to you, our employees, and to our customers, partners and shareholders.”
Philips’ green product portfolio consistis of medical equipment, consumer electronics, and household and personal care goods.
In May, General Electric said it had doubled sales from environmentally friendly products to $12 billion over the past two years.
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