Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX:PHI) is the fastest riser amongst technology brands in the annual ranking of the top 50 Best Global Green Brands by leading brand consultancy, Interbrand*. Advancing nine places, Philips has the second largest increase of all brands and now holds the 14th position, up from 23rd last year.
Upon announcing their report, Interbrand noted: “We have seen Philips become one of the most celebrated global brands of 2013/2014. With the launch of a revised brand vision and identity, Philips has paved the way to improve the lives of over 3 billion people a year through meaningful innovation.”
“We are very pleased to see a significant climb in two consecutive years which is a direct testimonial to our efforts in driving sustainable innovation,” said Henk de Bruin, Head of Group Sustainability at Philips. “This year, our Green Product sales exceeded half of total sales, showing that our sustainable performance has resulted into a stronger demand driver for our brand. We believe that adopting a circular economy approach to our business models, materials reuse and design, will further give us a competitive advantage while making the world more sustainable."
Patrick Stal, Managing Director of Interbrand Amsterdam concluded: “The brand’s performance on corporate citizenship and sustainability related factors has always been a part of its DNA. What we are now seeing, is that global audiences are increasingly noticing this performance and finding it a relevant addition to their perception of the brand. The growth in Philips’ green perception is bound to continue to deliver real value for this brand, as the brand allows itself to show the world how strong it performs on corporate citizenship and sustainability related issues.”
Philips is recognized internationally for its sustainability performance, including the recent “Champion for Change” Award by Practice Greenhealth and “Energy Star Partner of the Year” by the U.S. Environmental Protection Agency. In the annual Interbrand ranking of the top 100 global brands, Philips holds 40th position with brand value of USD 9,8 billion.
Information on Interbrand’s Best Global Green Brands is available at: www.bestglobalgreenbrands.com
*Best Global Green Brands valuation by Interbrand:
Interbrand’s 2014 Best Global Green Brands report examines the gap that exists between a corporation’s environmental practices and consumers’ perceptions of those practices. When identifying the top 50 Best Global Green Brands each year, Interbrand starts with the 100 brands that make up its annual Best Global Brands report. Interbrand then conducts extensive consumer research to capture public perception of the brand’s sustainable or green practices and compares that to environmental sustainability performance data provided by Deloitte – data that is based upon publicly available information.