Electronic Waste (e-waste)
In addition to creating circular economy solutions for capital equipment, Philips is also committed to addressing the recycling of e-waste. Each year, the global economy generates around 50 million tons of e-waste, yet only around 20% is currently recycled.
Through leadership of PACE and with the involvement of the GEF, UN Environment, the Nigerian government, DELL, HP and Microsoft, Philips has been instrumental in establishing a 2-million US dollar public-private partnership project to initiate a circular e-waste system in Nigeria. The country processes around 500,000 tons of e-waste annually, and after the recovery of serviceable items that can be sold in local markets or easily recoverable materials such as metal and plastic components, much of the remainder is disposed of in landfill sites. The new e-waste project, which was announced today during a Press Conference at the WEF Annual Meeting, is expected to leverage an additional 13 million dollars in co-financing from the private sector, with the initial GEF funding allowing the Nigerian government to build the required skills, tools and governance structures for e-waste management, and pilot new e-waste collection and recycling programs.