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TheStreet Open House

Philips Ranked 7th Worldwide On Corporate Knights 2013 'Global 100 Most Sustainable Corporations In The World' List

Stocks in this article: PHG

ANDOVER, Mass., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Corporate Knights, the Toronto-based media and investment research company, announced its Global 100 list of the world's most sustainable corporations at the World Economic Forum in Davos, Switzerland. Philips was ranked 7th overall and with its U.S. headquarters in Andover, is the top-rated Massachusetts company on the world's most credible corporate sustainability ranking1.

Philips' continued investments in innovation, efficiency and transparency within the supply chain and focus on positive customer experiences consistently place sustainability at the core of the company's business practices. Under the program name EcoVision, Philips focuses on three sustainability targets for 2015 in the areas of care, energy efficiency and recycling. This approach, combined with performance in energy, carbon and water productivity, increased Philips' ranking by six positions, up from 13th in 2012.

"Securing this ranking illustrates our ongoing achievements and leadership in sustainability," said Greg Sebasky, chairman, Philips North America. "We aim to to improve the lives of 3 billion people per year by 2025, and apply environmental and community considerations throughout our operations to achieve this objective."

Philips has brought its EcoVision program to life in Massachusetts by:

  • Using renewable wind energy to produce 70 percent of the electricity needed for its Lightolier facility in Fall River
  • Recycling more than 340 tons of waste, such as light bulbs, paper and construction debris
  • Composting more than 22,000 pounds of food materials, the equivalent of 54 55-gallon barrels
  • Supporting local communities through volunteer and service programs, such as the employee garden and food drive collection that donated more than 2,700 pounds of food to the Merrimack Valley Food Bank's Mobile Food Pantry
  • Maximizing efficient use of facility space, for instance with our Work Place Innovation program (which enables flex-working) on our Andover campus

Commenting on this year's Global 100, Toby Heaps, Corporate Knights CEO, remarked, "the Global 100 are leading a resource productivity revolution, transforming waste into treasure and doing more with less. They are steering our civilization away from ecological overshoot and back to a place of balance with our planet."

For full rankings and other details, please see: www.global100.org or www.corporateknights.com/global100.

Notes to the editor on EcoVision:

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