Philips and the Ellen MacArthur Foundation, together with other organizations, are collaborating in the Philips initiated Student Service Design Challenge — a global design award that encourages and inspires the next generation of designers to develop people-centered, future-oriented services that benefit people and the planet. Together with the Foundation, Philips is also completing a Circulytics assessment to measure the company’s circular economy performance.
“Under Frans van Houten’s stewardship, Philips has repeatedly raised the bar – setting and achieving ambitious goals as a leader in the transition to a circular economy,” said Andrew Morlet, CEO, Ellen MacArthur Foundation. “Philips has also played a key role in driving systems change in the industry. I look forward to what we will achieve together in the future, and to the impact Philips will have as it continues to drive circular economy design for system solutions and transformation, tackling global challenges such as waste and pollution, climate change, and biodiversity loss.”
Philips recently announced that it has achieved its circular economy revenue target of 15% of sales by 2020, one of the goals of its ‘Healthy people, Sustainable planet’ 2016 – 2020 program. The company has also confirmed it is now carbon neutral in its operations. In September 2020, it published its 2025 Environmental, Social, and Corporate Governance (ESG) commitments, which further raise the bar for sustainability, including a commitment to increase its circular economy revenue to 25% of sales and ensure that 100% of its new products meet the company’s EcoDesign requirements. Circularity is a key pillar of EcoDesign.
Philips CEO Frans van Houten and Ellen MacArthur recently collaborated on an article for the World Economic Forum titled 3 shifts can scale the circular economy – triggering a more resilient, prosperous system.