Looking at the challenges the world is facing today, the expectations that society is placing on the contribution of multi-national companies have significantly increased. And rightly so. If there is one thing, the challenges I have described remind us of, it is that we need to build a more inclusive and resilient world right now. Confronted with this need, Philips’ purpose has never been more relevant. While we are proud of what we do already, it is very clear that we need to step up our actions. Philips has always taken the interests of all stakeholders and society to heart, and we are happy to do more.
Because how can we claim that our purpose is to improve the health and wellbeing of 2 billion people a year by 2025, if we do not convincingly demonstrate that we are doing everything in our power to make sure the world we inhabit will be a better and fairer place to live in. A world in which every child enjoys opportunities. A world that embraces diversity of thought, belief, creativity and passion, with a conviction that every individual can and should be able to contribute. As an innovation company, we know that many of history’s greatest innovations were actually created by people who thought differently, were prepared to stand up for their ideas, and followed through courageously.
We are living up to these beliefs every day. Thanks to the creativity, inspiration and determination of our 80,000+ employees, we are united in our ambition to deliver meaningful innovation to make the world healthier and more sustainable. This year our health technology innovations will already improve the health and wellbeing of around 1.5 billion people around the world. I am heartened by the way our employees responded to the COVID-19 crisis, showing their full engagement and creativity in a time of utmost urgency. In record time, we quadrupled our ventilator production and doubled our patient monitor production, devised telehealth solutions to keep infected patients in touch with their caregivers, built secure IT systems to transfer patient data between hospitals at the touch of a button, and designed mobile intensive care units for flexible deployment in countries such as India. We know that when you unite people in a common, meaningful purpose and give them the power to innovate, they come up with solutions, fast.
We are also proud that over the last years Philips became the first health technology company in the world to have its CO2 emission targets endorsed by the Science Based Targets initiative, a collaboration between the UN Global Compact, the World Resources Institute and the World Wide Fund for Nature aimed at driving ambitious corporate climate action. We expect to deliver on all targets set out in our industry-leading 2016-2020 ‘Healthy people, Sustainable planet’ program by the end of this year.