Amsterdam, the Netherlands – The Philips Foundation, established by Royal Philips (NYSE: PHG; AEX: PHIA) as the central platform for Philips’ CSR activities, today announced publication of its 2018 Annual Report. The report highlights the Foundation’s solid progress in delivering on its commitment to reduce health inequality through meaningful innovation. This includes support for local NGO projects, collaboration with international organizations, and support for social entrepreneurs seeking to implement innovative healthcare solutions. Via the Foundation, Philips also focuses its workforce’s volunteering activities on a single global healthcare issue to achieve greater impact.
Building on its commitment to help solve some of the world’s most difficult healthcare challenges through innovation and collaboration, the Philips Foundation deliberately steered away from traditional donations in 2018. Instead, it teamed up with complementary partners, such as national Red Cross societies, UNICEF, ICRC, Save the Children and Amref, and with specific social entrepreneurs, resulting in the launch of 40 exciting new projects that explore new models of access to care to strengthen healthcare systems, improve outcomes, and reduce the cost of care.