Jim Andrew, the recently appointed chairman of the sustainability board and Philips’ chief strategy and innovation officer, said: “Despite the challenging economic environment, sustainability continues to be an integral part of Philips’ strategy. In 2011, we invested 479 million euros in Green Innovation dedicated to addressing global challenges related to care, materials and energy efficiency.”

“Our aim is to make the world healthier and more sustainable through innovation and we are pleased to report that in 2011, we already touched over 465 million lives mainly through the use of our Healthcare solutions,” he added. In health care, Philips continued adding Green products to its portfolio. Efforts in Consumer Lifestyle focused on closing the materials loop through launching products such as the EcoCare steam iron, which is made from 30 percent recycled materials.

In 2011, Lighting accounted for over 60 percent of the total spend on Green Innovation with the investment of a record amount of 291 million euros. Drawing on more than 100 years of experience in lighting, Philips introduced CityTouch: An online outdoor lighting management system that enables dynamic control on a city-wide scale and provides light precisely at places and at times when needed. When combined with LED lighting, CityTouch can achieve up to 70 percent savings in energy and up to 70 percent in maintenance costs compared to conventional lighting.

By 2015, Philips aims to invest 2 billion euros in Green innovation to accelerate sustainable business across the company’s three sectors.