Philips contributes to environment

25th September 2007, Comments 0 comments

25 September 2007, AMSTERDAM - Philips also wants to make a contribution to saving the environment. In the coming years the electronics company will double its investment in environmentally friendly innovations. In 2012 almost a third of turnover must come from energy efficient products. That percentage was 15 percent last year.

25 September 2007

AMSTERDAM - Philips also wants to make a contribution to saving the environment. In the coming years the electronics company will double its investment in environmentally friendly innovations. In 2012 almost a third of turnover must come from energy efficient products. That percentage was 15 percent last year.

Philips is convinced that attention to the environment does not have to compromise the company's profitability. "Those companies that combine the principles of economic growth and treating the environment properly are the winners of the future," CEO Gerard Kleisterlee said Tuesday in a letter to personnel.

The company recently announced it was counting on doubling operating profit per share by 2010 compared to the current level. 

Philips will invest EUR 1 billion in the development of energy efficient products in the coming five years, double what it has invested in past years. Internal efforts towards more environmental friendliness will also be stepped up, including the installation of energy saving light bulbs in all the company's offices worldwide.

This and other measures should lead to a 25-percent saving in energy consumption in the coming years. Philips employs almost 126,000 people in more than 60 countries.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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