Somerset, New Jersey – Signify (Euronext: LIGHT), the world leader in lighting, is proud to announce that it has achieved carbon neutrality for all its operations across the world as well as using 100% renewable electricity.1 While the company progresses towards its remaining commitments for 2020, it will already embark on a new five-year journey in which it will focus on doubling its positive impact on the environment and society.
Signify achieves Carbon Neutrality in September 2020
Signify has reduced its operational emissions by more than 70% since 2010, having shifted to more energy-efficient technologies at its sites, to more sustainable modes of transport and optimized logistics planning, and to less travel in a more sustainable way. It also uses 100% renewable electricity, supported through two power purchase agreements, one in Texas and a second in Poland. The balance of emission reductions is achieved through a carbon offsetting program with projects aimed at benefiting the wellbeing of local communities.
CEO of The Climate Group
CEO of Signify
“However, the world is still facing demographic changes, urbanization, climate change and resource scarcity. This is not a time to pause and celebrate, but a time to become even more ambitious and accelerate our efforts to address these challenges. Growth for sustainability and providing a great place to work are firmly anchored as central parts of our company strategy. This means that when it comes to sustainability, we will go beyond carbon neutrality and double our positive impact on the environment and on society in 2025,” he added.
Brighter Lives, Better World 2025: Our new sustainability program beyond carbon neutrality
Today, Signify starts implementing its new sustainability program and sets course to double its positive impact on the environment and society. The UN Sustainable Development Goals will be used as its strategic compass to work towards the following four goals:
Double the pace of the Paris Agreement:
As part of our commitment to climate action (SDG13), we will go beyond carbon neutrality and reduce carbon emissions over our entire value chain. Already in 2025, we will achieve the 2031 target set out for companies in the Paris agreement to limit temperature rises to 1.5°C over pre-industrial times. We will do so by increasing the energy efficiency of our portfolio, which will reduce emissions of our customers, and by driving carbon reductions at our suppliers.
We also call upon the world to accelerate the adoption of affordable and clean energy (SDG7). Our highly energy-efficient LED lighting saves an average of 50% of the electricity consumed by conventional lighting. An additional saving of around 30% is achieved by using connectivity and lighting control systems. Moreover, we believe that the expansion of solar-powered lighting systems will provide another very effective opportunity to reduce carbon emissions.
Double our circular revenues to 32%:
Making our economy more circular has become more important than ever. Today we use 1.6 times the resources our planet can sustain and resource scarcity and waste have reached worrying proportions. We are committed to responsible consumption and production (SDG12) with products that can be reprinted, refurbished, reused or recycled. This will help us to achieve our goal of doubling our revenues from circular products, systems and services to 32% in 2025. This includes revenues from 3D printed luminaires, which we were the first lighting company to develop at scale, and from streetlights with reusable components and recyclable parts that we introduced earlier this year.
As part of our commitment to a circular economy, we have also committed to sustainable packaging, removing plastics from all our consumer packaging before the end of 2021, and to sending zero waste to landfill.
Double our revenues for brighter lives, through innovations that benefit society, to 32%:
We are committed to supporting good health and wellbeing (SDG3) and sustainable cities and communities (SDG11). We will double the percentage of our revenues for brighter lives, which benefit society, to 32%. This includes revenues from lighting innovations which increase food availability, safety & security or health & wellbeing.
Double our commitment to diversity and inclusion and double our % women in leadership to 34%:
We are committed to decent work & economic growth (SDG8) and to creating a great place to work. We will strengthen our commitment to diversity & inclusion and aim to double the percentage of women in leadership in our business to 34%. We will further strengthen our commitments to employee safety, supplier sustainability and lives lit through our Signify Foundation.
More information on our commitments and updates on our progress can be found on our sustainability pages.
1 Cooper Lighting and Klite are not part of Signify’s EHS reporting yet. These two companies are currently being integrated and will be included in Signify’s annual reporting starting in 2021. The company aims to include them in its commitments in 2022.
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. In 2022, we had sales of EUR 7.5 billion, approximately 35,000 employees and a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We achieved carbon neutrality in our operations in 2020, have been in the Dow Jones Sustainability World Index since our IPO for six consecutive years and were named Industry Leader in 2017, 2018 and 2019. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.