Philips To Pour 2 Billion Euros Into Green

We’ve seen a pretty steady parade of green-hued items from Philips in the last year – the Econova TV, the 12-watt EnduraLED and, just a few weeks ago, the Philips Ledalite Jump lighting system. The company apparently has plans to keep on churning out such products, announcing it will double its investment in green innovation – which reached 1 billion Euros ($1.38 billion) in 2010 – to 2 billion Euros ($2.76 billion) by 2015.

“We consider sustainability to be a driver of growth and an integral part of the Philips DNA,” said Rudy Provoost, chairman of Philips’ Sustainability Board and CEO of Philips Lighting. Lighting is one of the three units of Philips, in addition to Consumer Lifestyle and Healthcare. Each of the units, Philips said, is committed to creating Philips Green Products. These are products that perform at least 10 percent better than a competitor or predecessor product in energy efficiency, packaging, hazardous substances, weight, recycling and disposal, or lifetime reliability.

Philips doubles green innovation investment

image via Philips

Often, the company said, Green Products are superior in several of the categories. As an example, Philips pointed to Philips Essential, a patient monitoring system that offers 48 percent reduction in energy use, 72 percent less product weight, 32 percent less packaging weight and a lead-acid free battery.

But of course, with Philips, lights dominate: The Lighting division was responsible for almost half of the company’s Green Product sales, Philips said.

Pete Danko is a writer and editor based in Portland, Oregon. His work has appeared in Breaking Energy, National Geographic's Energy Blog, The New York Times, San Francisco Chronicle and elsewhere.