Philips invests further in Green Innovation business

Royal Philips Electronics is to allocate €2bn (£1.7bn) for investments in Green Innovation by 2015 to accelerate sustainable business across the company’s three sectors.

In 2010, Philips’ cumulative investments in Green Innovation amounted to €1bn, surpassing its Green Innovation investment target two years ahead of schedule.

As a result of the company’s continued commitment to sustainable innovation, 38 per cent of total 2010 sales was generated by Philips Green Products, up from 31 per cent in 2009.

The increase in green sales, as a percentage of total sales in 2010, was achieved primarily by the company’s continued focus on Ecodesign across sectors, a process aimed at developing products with a significantly lower environmental impact throughout its life cycle.