Amsterdam, The Netherlands – Royal Philips (NYSE:PHG, AEX:PHI) is ranked first among the forty largest publicly listed Dutch companies benchmarked for Responsible Supply Chain Management by The Dutch Association of Investors for Sustainable Development (VBDO). For the sixth year in a row, Philips’ has maintained its leadership position and scored a 49 out of a possible 52 points, equaling a 94% rating.
In presenting the award to Philips, the jury commended Philips for its transparent and complete reporting methods and the company’s dedication supporting suppliers in improving their sustainability performance. “We are very pleased that we have been able to maintain our leadership performance year on year,” commented Fredrick Spalcke, Chief Procurement Officer at Philips. “Transparency of our supply base and our multistakeholder programs are a true testimonial to the value and growth which can be generated by embedding supplier sustainability within the company strategy.”
Few weeks earlier, Philips was also rewarded with the Crystal Award (“De Kristalprijs”), acknowledgement for the most transparent Annual Report in the Netherlands, initiated by the Dutch Ministry of Economic Affairs. Philips’ integrated report was praised for including corporate social responsibility (CSR) which is clearly embedded in the organization, strategy and innovation.
In both awards, Philips’ attention to stakeholder engagement and approach to issues like conflict minerals and supply chain responsibility were recognized.