Philips increases sales of 'Green Products' to 25% of total sales

The company reported that Green Products sales increased to around 25% of total sales in 2008, compared with 20% in 2007. It is Philips' target to derive 30% of total sales from Green Products by 2012, as laid out in Ecovision4. The company also put 91 new Green Products on the market, 72% more than in the previous year.

In commenting, Rudy Provoost, Member of Philips' Board of Management and Chair of Philips' Sustainability Board and CEO of Philips Lighting, said:

"As a global health and well-being company, we have once again demonstrated that sustainability is our business opportunity, creating value for our company, improving people's lives and contributing to a better environment. Sustainability is a powerful platform for innovation and growth and we are committed to continuously invest and explore future possibilities to improve the health and well-being of our planet and its people."

To further strengthen its EcoVision drive, Philips announced additional recycling initiatives, based on the principle of individual producer responsibility. In India, Brazil, Argentina and China, Philips will set up cost-effective voluntary collection and recycling systems, working together with partners to develop a level-playing field on the principle of integrating environmental costs into product price.

"These initiatives illustrate a strong commitment to product stewardship, going beyond integrating sustainability into all our business processes and contributing to Philips's sustainability business drive by offering cost reduction opportunities whilst safeguarding the planet," added Rudy Provoost.