Philips has a strong track record of transparency in its plans, actions and reporting. For example, its CO2 emission-reduction targets are approved by the Science Based Targets initiative (SBTi), and its ‘Lives Improved’ performance metric is externally audited. Philips also engages transparently with shareholders, customers, business partners, governments and regulators, and delivers high-quality products and services that comply with all applicable laws and standards.
In addition to the company’s customary disclosures on tax contributions that will be made in the Annual Report 2020, Philips will publish a supplemental financial report for 2020, which will include the tax contributions for all countries Philips operates in. This is in line with Philips’ commitment to transparency, and the company’s view that these tax contributions are social value contributions to the local communities.
 In connection with Philips’ planned divestiture of its Domestic Appliances business, the company will no longer include the contribution of the Domestic Appliances portfolio in its ‘Lives Improved’ reporting. As a result Philips commits to improving the lives of 2 billion people a year by 2025, and the lives of 2.5 billion people by 2030.
 Today, Philips generates 66% of its sales from green products and services, with 13% from circular economy solutions. Over 95% of its worldwide operations are currently powered by renewable electricity. Moreover, 85% of all operational waste is being recycled, and 67% of Philips’ industrial sites sent zero waste to landfill. Most recently, Philips North America achieved ‘zero waste to landfill’ status for its manufacturing sites. For more information: www.results.philips.com.