The Dutch Association of Investors for Sustainable Development (VBDO) has, for the third time, recognized Philips’ achievements in the area of Responsible Supply Chain Management. Philips is ranked first among the forty largest publicly-listed Dutch companies benchmarked for this award.
“We are very pleased to once again receive this recognition from the VBDO,” commented Maarten de Vries, Chief Supply and Information Officer.
Philips scores have shown continual improvement over the last four years, increasing from 62% in 2006, up to 77% in 2007, 85% in 2008, 90% in 2009 and an impressive 93% in 2010.
In presenting the award to Philips, President of the Social and Economic Council (SER), Rinnooy Kan, commended Philips for its outstanding achievement in receiving the highest score for the fourth consecutive year. In particular, Philips’ thorough and transparent reporting methods were referenced, along with the company’s dedication supporting suppliers in improving their sustainability performance. Mr. Kan also emphasized that, by embedding supplier sustainability within company strategy, Philips demonstrates that sustainability is a key enabler of value creation and growth.
Philips is proud of this recognition, made possible thanks to the diligence of the company’s global Supplier Sustainability team. It is Philips’ intention to expand upon its efforts in this area, by further increasing supplier collaboration and continuing to seamlessly integrate sustainability within the company’s overall strategy.