As leaders gather for Climate Week in New York under the theme Power On, it's clear that the path to a net-zero future comes down to the choices we make today. Progress requires courage, collaboration and a serious look at how we manage our planet's limited supply of energy and resources.
Alongside sustainability leaders from AWS, Mercedes-AMG PETRONAS F1, Whole Foods Market, and Atlassian, I will share more about Signify's journey and what has empowered us on the route to net zero on Monday's panel hosted by Sustainability Magazine.
In the last decades, Signify has transformed its own operations to be more sustainable, while delivering breakthroughs in high performance lighting with an increasingly lower footprint.
When we first called for a global phase-out of incandescent lighting more than two decades ago, it accounted for two-thirds of our output. Yet, we were confident in the decision because we knew the future of lighting lay in energy-efficient LED.
This bold statement challenged many in our industry, while setting the foundation for our leadership today, that leverages the opportunities of digital technologies to deliver benefits that extend far beyond illumination.
We are proud today that LEDs account for well over 90% of our revenues - proof that what may feel like a risk in the moment can become the standard of tomorrow.”
Lighting is just one part of the solution, but it accounts for 2% of global emissions, equal to that of the aviation industry. And with existing solutions available today, it is one area where we can act fast and make an immediate impact.
Encouraging the widespread adoption of more efficient lighting is a transformation that moves the needle for our customers. For example, buildings consume nearly 30% of global energy, so efficiency gains here deliver immediate impact: lower bills, improved well-being and reduced emissions.
From exploring new bio-based materials to maximizing the energy efficiency of our lighting, products, systems and services, we believe acting on climate goals can drive business results.
Reaching net zero requires collaboration. That’s why our 2024 Climate Transition Plan was co-created with climate associations, customers and partners.
Working together, we’ve started electrifying logistics operations, adopted plant-based fuels, transitioned to hybrid and electric lease cars, engaged our supplier in the supplier climate action program and increased the energy efficiency of our portfolio, cutting emissions 61% since 2019, equal to reducing 251 million tons of CO₂.
We source 100% electricity from renewables, half of which comes from investing in power purchase agreements, and we've cut our natural gas consumption in our factories by more than 50% since 2019.
It's our commitment to reduce our reliance on fossil fuels and support more sustainable forms of energy.
Partnerships like ours with Mercedes-AMG PETRONAS F1 show how shared journeys multiply progress, and we are proud to share learnings as they develop their own climate transition action plan, showing how a high-performance sport can accelerate net zero progress across sectors far beyond racing.
It's clear that bold action, responsible innovation, and collaboration are not just strategies; they are necessities. Because tomorrow’s world depends on what we choose to do today.
Signify (Euronext: LIGHT) is the world leader in lighting for professionals, consumers and the Internet of Things. Our Philips products, Interact systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. In 2023, we had sales of EUR 6.7 billion, approximately 32,000 employees and a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been in the Dow Jones Sustainability World Index since our IPO for seven consecutive years and have achieved the EcoVadis Platinum rating for four consecutive years, placing Signify in the top one percent of companies assessed. News from Signify can be found in the Newsroom, on X, LinkedIn and Instagram. Information for investors is located on the Investor Relations page.
