Sustainability is central to the Signify strategy. It is the company purpose to unlock the extraordinary potential of light for brighter lives and a better world. Signify is focused on increasing the energy efficiency of its products and reducing energy use in production processes. Through its sustainable lighting and sustainable operations, Signify is addressing population growth, resource challenges, and digitalization.
Over the past 125 years, Signify pioneered many key breakthroughs in sustainable lighting, being a driving force behind several leading technological innovations, including LED. Today, approximately 15% of the world’s electricity is used for lighting. Through digital LED technology, Signify offers light that is up to 80% more energy efficient. With it, electricity usage for lighting is on track to decline to 8% by 2030. Through our leading position in the lighting industry, we believe we have an important role to play towards a low-carbon economy as the world transitions from conventional to LED lighting technology.
This transformation and our focus on sustainability make Signify shares particularly attractive for investors who incorporate environmental, social and governance (ESG) criteria into their investment decisions. The annual report has integrated information on our ESG performance. These disclosures are independently verified by Ernst & Young Accountants LLP at reasonable (highest) assurance level, making them especially suitable for primary data analysis.