Philips renews strategic partnership with Ellen MacArthur Foundation
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Philips has renewed its strategic partnership with the Ellen MacArthur Foundation for a further three years
Philips joined the Ellen MacArthur Foundation’s Network as part of the company’s commitment to actively drive the transition to a circular economy. Because circular solutions can help tackle some of the world’s biggest challenges, including climate change, waste, pollution, and biodiversity loss, implementing the circular economy has been one of the key pillars of Philips’ past and present commitment to doing business responsibly and sustainably. The renewed partnership will focus on circular design and circular economy metrics.
Philips and the Ellen MacArthur Foundation, together with other organizations, are collaborating in the Philips initiated Student Service Design Challenge — a global design award that encourages and inspires the next generation of designers to develop people-centered, future-oriented services that benefit people and the planet. Together with the Foundation, Philips is also completing a Circulytics assessment to measure the company’s circular economy performance.
“Under Frans van Houten’s stewardship, Philips has repeatedly raised the bar – setting and achieving ambitious goals as a leader in the transition to a circular economy,” said Andrew Morlet, CEO, Ellen MacArthur Foundation. “Philips has also played a key role in driving systems change in the industry. I look forward to what we will achieve together in the future, and to the impact Philips will have as it continues to drive circular economy design for system solutions and transformation, tackling global challenges such as waste and pollution, climate change, and biodiversity loss.”
Transitioning to a circular economy is central to our drive to make the world healthier and more sustainable through innovation
Frans van Houten
CEO of Royal Philips
“Transitioning to a circular economy is central to our drive to make the world healthier and more sustainable through innovation,” said Frans van Houten CEO of Royal Philips. “The strategic partnership with the Ellen MacArthur Foundation has proven valuable in bringing like-minded organizations and industries together, to accelerate learning and drive critical action to combat global challenges.”
Philips recently announced that it has achieved its circular economy revenue target of 15% of sales by 2020, one of the goals of its ‘Healthy people, Sustainable planet’ 2016 - 2020 program. The company has also confirmed it is now carbon neutral in its operations. In September 2020, it published its 2025 Environmental, Social, and Corporate Governance (ESG) commitments, which further raise the bar for sustainability, including a commitment to increase its circular economy revenue to 25% of sales and ensure that 100% of its new products meet the company’s EcoDesign requirements. Circularity is a key pillar of EcoDesign.