Mar 13, 2025 | 4 minute read
“We are proud of the progress we made in 2024, executing our focused strategy to improve people’s health and well-being, creating sustainable long-term business value for all our stakeholders,” says Marnix van Ginneken, member of Royal Philips’ Board of Management. “Our sustainability-led partnerships with customers and suppliers highlight the potential for significant cost savings, improvements in energy efficiency and expanding access to care in and outside the hospital, while the company continues to explore ways to provide consumers with greater choices to live sustainably.”
For the first time, 2024 saw Philips achieve 100% EcoDesigned new product introductions (NPIs). Meeting growing customer demand to support their environmental ambitions, Philips EcoDesigned products are designed to increase energy efficiency, avoid the use of hazardous substances, optimize the use of materials and improve packaging across the product life cycle. These measures are driving significant and systemic changes in healthcare, providing safe, efficient and effective methods of care, while often bringing down costs.
Philips is focused on delivering meaningful innovations and teaming up with partners to improve and expand healthcare delivery with lower carbon emissions. In 2024, Philips grew its portfolio of innovative, energy-efficient and, increasingly, compact and lightweight solutions, while scaling the adoption of circular practices to reduce material use and waste in the healthcare value chain.
Philips introduced helium-free operations in MRI, combining compact and lightweight design, for increased flexibility and ease of installation in difficult and remote locations, contributing to wider access to advanced MRI. Its PowerSave+ feature ensures additional energy savings by switching automatically to stand-by mode within 30 minutes of idle time. MRI scanners equipped with Philips’ BlueSeal magnet technology have so far saved more than 2.75 million liters of helium since 2018, eliminating the need for helium refills – a scarce resource – even in the event of a shutdown. This ensures long-term reliability and reduced environmental impact.
In the Personal Health segment, the expansion of the Philips Refurb Edition and local takeback systems across select European markets gave toothbrushes and shavers a second life while supporting consumers in making sustainable choices.
CO₂ emissions across Philips’ operations, its logistics and its full value chain were significantly reduced, thanks to low-carbon energy alternatives and optimized planning. Driven by the company’s supplier sustainability program, 48% of all purchases (by spend) in 2024 came from suppliers with science-based climate targets – up from 46% in 2023. Collaboration with suppliers also resulted in better continuous improvement skills, with a positive knock-on effect on overall quality and cost management.
Philips continues to team up with customers across the world, to enable better health outcomes and address pressing challenges, including cost of care, staff shortages and growing health disparities and reduce their environmental impact at the same time.
Philips continues to advance its people-centric organizational culture, creating an environment where everyone feels empowered to grow and thrive. We aim to be a best place to work. Throughout the year, the company focused on renewing its organizational culture, enhancing leadership, and simplifying operations to deliver sustainable value for people and the planet. A key achievement in this process was engaging 3,000 people leaders on our purpose, strategy and culture, laying a strong foundation for organizational alignment. In 2024, Philips was recognized as one of the World’s Best Employers by Forbes for the sixth consecutive year, positively reflecting on its commitment to doing business responsibly and driving industry-leading innovation.
Philips Annual Report 2024, with integrated sustainability statement, was published on February 21, 2025. More details can be found in chapters 4 and 8 of the Annual Report.