Philips goes for €1 billion eco-innovations

Greenbang has been spending some quality time with Philips’ latest CSR report. The dirty great tome reveals that the Netherlands’ second best export after Edam plans to double the money it’s ploughing into “green innovations” to €1 billion over the next five years.

And why announce one green target when you can have three? Here’s the others: to generate 30 percent of its revenue from green products and to increase energy efficiency by 25 percent, both by 2012.

It’s already making progress towards its 30 percent target: it’s on 20 percent at the moment, up from 15 percent in 2006.

It’s showing more greenery than ever in three business units: sales of green products are up 35 percent in healthcare, 91 percent in consumer lifestyle and 17 percent in lighting.

Here’s a couple of ideas from the company on what they’ve been up to:

The Philips MRI scanner Achieva 3.0T X-series for instance shows a reduction of the environmental impact of the product by 32% compared to previous models. A new market introduction that has also proven its green credentials is the Philips IntelliVue MMS X2 Patient Monitor that consumes 52% less energy during use.[…]

the Cineos Soundbar with Ambisound, which uses 50% less energy than its closest competitor, and the energy efficient LCD TV range of which some models use 36% less energy than closest competitors.

Philips Green Products offer a significant environmental improvement in one or more of the Philips Green Focal Areas: energy efficiency, packaging, hazardous substances, weight, recycling and disposal, and lifetime reliability, compared to similar products on the market.