Philips Jewellery

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Philips Jewellery Sustainability Actions

Reported 2023 ESG progress

Philips said it improved the health and well-being of 1.88 billion people in 2023 through its products and services, including 221 million people in underserved communities. It also said circular revenues reached 20% of sales, meaning a larger share of sales came from products or services designed to be reused, repaired, or kept in use longer. The company reported 78% renewable electricity use, zero waste to landfill at all 23 industrial sites, and stronger reporting on Scope 1-3 emissions, which cover direct emissions, purchased energy, and emissions across the value chain.

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Expanded low-carbon healthcare work

Philips described several projects aimed at lowering the climate impact of healthcare. These included energy-efficient MRI scanners with helium-free operation, a radiology command center that can reduce staff travel, and partnerships to cut the carbon footprint of imaging services. It also said it was developing AI-powered ultrasound for maternal care in rural Kenya and mobile CT trucks for underserved communities in Australia and North America. These examples show the company linking access to care with lower-impact healthcare delivery.

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Improved reporting and transparency

Philips said it has strengthened its sustainability reporting by adding enhanced Scope 1-3 emissions data to its annual report and publishing country-by-country activity and tax reports. It also said its ESG statements are independently audited at the highest reasonable assurance level. In plain terms, that means an outside auditor checks the reported data and gives a high level of confidence in it. The company also said it publishes a human rights report each year and uses stakeholder feedback in its planning.

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Set up ESG governance structures

Philips said it uses a formal governance structure for sustainability. This includes oversight from the Board of Directors, an Executive Leadership Team, a Sustainability Executive Steering Committee, and working groups that handle topics such as decarbonization, methane management, and lobbying disclosures. The company says this setup helps it manage sustainability risks, track progress, and keep responsibility clear across the business.

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Worked on supplier sustainability

Philips said it works with suppliers to reduce environmental impact and improve social performance across its supply chain, which is the full path from raw materials to finished products. In 2023, it said 46% of its purchases by spend came from suppliers that had committed to science-based targets, meaning emissions goals based on climate science. The company also said it aims to raise that share further and uses a systematic, transparent approach with suppliers.

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