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    Taking climate action, here’s our plan

     

    September 21, 2020

     

    Achieving our carbon-neutral goal in 2020 gives us a moment to celebrate and reflect on how far we’ve come, but our eyes are on the future

     

    At Signify, sustainability is core to everything we do. Our business and consumer customers expect to work with companies that make a positive contribution. Operating sustainably is not at odds with our growth, but is our guiding direction and competitive advantage.

     

    With this in mind, we have identified five strategic areas where we will grow our business while furthering our contribution to a better and more sustainable world. These five growth areas are defined based on the major trends facing society and on the United Nations Sustainable Development Goals.

    A world in crisis

     

    The last five years have been the hottest on record. One million species face extinction. As the world’s media turns to Climate Week New York, the needs of our planet cannot be ignored. As a company and as individuals, our message is clear: there is no ethical or commercial justification for ignoring this reality. We recognize humanity’s imperative to act decisively and immediately to alleviate the crisis of climate change.

    We are carbon neutral

     

    We have already set and achieved ambitious sustainability commitments. As of September 2020, Signify is carbon neutral and uses 100% renewable electricity. We’ve shifted to more energy-efficient technologies and have two groundbreaking virtual power purchase agreements which support our commitment. We’re proud to be recognized as one of the most sustainable companies in the world.

    Our next target is still more ambitious: to double the pace of the Paris Agreement. This means we aim to achieve the 2031 target set out for companies in the Paris Agreement six years early.
    windmill body
    Photo credit: Jason Blackeye/Unsplash

    Pioneering sustainable technology

     

    For more than a decade, Signify has been enabling the transition from conventional lighting to high-efficiency LEDs. This switch alone consumes 50% less electricity. But this is just the start in the transition to cleaner, more efficient lighting technology.

     

    Connected lighting control systems turn light sources into data points, delivering light when and where it’s needed. For example, sensors can detect and adjust the output based on available daylight, or switch lights off when no one is using a room. These systems can save an additional 30% electricity.

     

    Expanding our solar powered lighting will provide further opportunities for our customers to save electricity by harnessing the power of natural resources. Being at the forefront of these leading technologies is at the heart of our strategy.

    Our 2.5 billion + LEDs sold save CO2 emissions equivalent to 23 million cars."

    Investing in offsetting projects

     

    Unavoidably, there is a remaining portion of carbon emissions we cannot eliminate. While our focus continues to be on minimizing our emissions, we also invest in offsetting projects with social and environmental benefits. In a long-standing partnership with South Pole, an award-winning project developer and global market leader in sustainability solutions, we have identified projects that help us support communities in their transition to a low-carbon economy.

    carbon offsetting projects

    We congratulate Signify for continuing to champion the results-based climate action we so urgently need. South Pole is thrilled to have been supporting Signify on its Climate Journey for nearly half a decade now, helping to channel Signify's support to not only reduce greenhouse gas emissions in India, Colombia, and Zimbabwe, among others, but also to benefit the well-being of local communities around the world.”

     

    Renat Heuberger

    CEO, South Pole

    The next chapter

     

    Achieving our carbon-neutral goal in 2020 gives us a moment to celebrate and reflect on how far we’ve come, but our eyes are on the future. Month on month, the impact of climate change becomes more and more clear.

     

    It’s our job not just to excel at what we do in the current reality, but to transition our industry to meet the needs of the future.

    forest body
    Photo credit: Guy Bowden/Unsplash

    About the author:

    Zhizhen Wang

    Zhizhen Wang

    Sustainability Program Manager

    About Signify

     

    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. With 2019 sales of EUR 6.2 billion, we have approximately 36,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been named Industry Leader in the Dow Jones Sustainability Index for three years in a row. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.

    Meydan Bridge

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