Energy Efficiency, GHG Emissions, Industrial  -  January 13, 2023

Philips' Emission Targets Approved by SBTi

Philips, a  health technology company, announced its entire value-chain CO₂ emissions reduction targets were approved by the Science Based Targets initiative (SBTi).

Incentivizing the company’s suppliers to commit to science-based CO₂ emissions reduction targets was a key part of Philips’ efforts to reduce emissions across the company’s end-to-end value chain. 

With 40% of its suppliers (based on spend) now committed to science-based targets, Philips is working toward achieving its 50% supplier commitment target for 2025. 

“Having our Scope 1, 2, and 3 emissions reduction targets approved by SBTi and our sustainability performance regularly assessed by CDP demonstrates Philips’ commitment to building a transparent, just and low-carbon value chain in line with the Paris Agreement 1.5⁰C target,” said Marnix van Ginneken, Chief ESG & Legal Officer at Philips, in a statement. Reducing emissions in our supply chain has a potential impact seven times greater than the reduction of CO₂ emissions from Philips’ own operations, so reducing our Scope 3 emissions has a real knock-on effect, reducing our overall carbon footprint and that of our suppliers and customers.” 

In the design of new products, Philips addresses energy consumption and materials use, avoids the use of hazardous substances, designs for end-of-life circularity, and makes product packaging easier to recycle and re-use. The company’s unique BlueSeal helium-free in operations MRI scanners massively reduce the need for helium gas produced as a byproduct of fossil fuel extraction, while its MR PowerSave and SmartSpeed technology can reduce a system’s power consumption by up to 46% between scans and up to 53% during scans.

 Philips is on a path to reduce total CO₂ equivalent (tCO2e) emissions from its industrial and non-industrial sites by 75% by 2025, and 90% by 2040 (compared to their 2015 emissions). In addition, it aims for a 42% reduction in indirect CO₂ emissions across our entire value chain by 2030.

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