Philips to Invest EUR 2 Billion into “Green Innovation” by 2015
Lighting company Philips (NYSE: PHG) plans toinvest EUR 2 billion in "green innovation" by 2015, according to thecompany’s latest annual report.
The company, which is a leader in the commercialization of LED lighting, said it invested EUR 450 million in green innovations in 2010,achieving its EUR 1 billion investment target two years ahead ofschedule.
In 2010, Philips also made progress with its supplier sustainabilityprogram, auditing 273 supplier sites against its supplier sustainability declaration, bringing the total since 2005 to 1,591 full-scope audits.
Following a trend in sustainability reporting, this is the first yearthat Philip’s annual report will not be available in a print version.From the company website, stakeholders have the opportunity to view orprint selected chapters, thereby reducing the environmental impact ofproducing the report.
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