To guide our efforts and measure our progress, we take a two-dimensional approach – social and ecological – to improving people’s lives. Products and solutions from our portfolio that directly support the curative (care) or preventive (well-being) side of people’s health, determine the contribution to the social dimension. In the ecological dimension, we see the transition from a linear to a circular economy as a necessary boundary condition for a sustainable world. A circular economy aims to decouple economic growth from the use of natural resources and ecosystems by using those resources more effectively. By definition it is a driver for innovation in the areas of material-, component- and product reuse, as well as new business models such as solutions and services.
We have identified three key innovation areas where we can bring our competencies to bear, ‘care’, ‘energy efficiency’ and ‘materials’:
- Improving people’s lives: 2015 Target: 2 billion lives a year by 2015. 3 billion lives by 2025.
- Improving energy efficiency of Philips products. 2015 Target: 50% improvement for the average total product portfolio compared to 2009
- Closing the materials loop. 2015 Targets: Double global collection, recycling amounts and recycled materials in products compared to 2009.
Each of our three sectors is in the lead on one of the leadership key performance indicators with Healthcare leading ‘care’, Lighting ‘energy efficiency’ and Consumer Lifestyle ‘materials’.
The current EcoVision program is a main driver to realize our company’s vision. The main elements of the program are:
- Green Product sales
- Improving people’s lives
- Green Innovation
- Green Operations
- Health & Safety
- Employee Engagement
- Supplier Sustainability
Details of the EcoVision parameters can be found in the sustainability statements.