Nov 30, 2018

Philips awarded Dutch ‘Crystal Prize’ for leading change in supply chain sustainability

Prize recognizes Philips’ innovative approach to engaging its suppliers in structural improvement of their sustainability, resulting in increased transparency of Philips’ supply chain impact.

Amsterdam, The Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, has been awarded the prestigious Dutch ‘Crystal Prize’, which this year focused on ‘Chain Transparency’. Organized by the Dutch Ministry of Economic Affairs in conjunction with the Netherlands Institute of Chartered Accountants (NBA), the award recognizes Philips for openness about its supply chain responsibility, transparency regarding its own impact, its cooperation with other stakeholders, and evidence of supply chain responsibility in its strategy and sustainability programs.

“As a company committed to improving people’s lives by making the world healthier and more sustainable through innovation, we are crucially aware of our responsibility to achieve sustainability in our supply chain,” said Frans van Houten, CEO Royal Philips. “This is why we work together with our suppliers to not only improve our own operations, but also to focus on advancing social and environmental conditions throughout the value chain. If you want your value chain to be transparent about what they do, the best way is to lead by example.”

If you want your value chain to be transparent about what they do, the best way is to lead by example.

Frans van Houten

CEO at Philips

The prize, which was awarded to Philips at a ceremony yesterday evening, follows Philips’ recent signing of the Dutch government’s latest Green Deal ‘Sustainable Healthcare for a Healthy Future’ initiative. Earlier this year, Philips was also awarded the prestigious 2018 Supplier Engagement Award by the Sustainable Purchasing Leadership Council (SPLC) for the company’s Supplier Sustainability Performance (SSP) program. Winning the Crystal Prize therefore represents further evidence of Philips’ leadership in sustainability, with firm commitments to the UN Sustainable Development Goals (SDGs) and the Paris Agreement on climate change built into the company’s long-term strategy for sustainable growth.

To achieve sustainable growth, Philips has an ongoing dual-axis ‘Healthy people, sustainable planet’ program, one axis of which focuses on increasing societal benefit by enabling more healthy people, while the other axis focuses on reducing environmental impact and maintaining the resources of the planet.

For more details of Philips’ ‘Healthy people, sustainable planet’ program, click here.

About Royal Philips

R=Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2017 sales of EUR 17.8 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Philips has been awarded the prestigious Dutch ‘Crystal Prize’. (Left to right) Monika Milz, chair of the jury, Marco Baren (Head of Supplier Development & Sustainability at Philips) and Dylan McNeill (Supplier Sustainability Manager at Philips). Photo Philips - Frank van Beek