October 19, 2020
Five years since announcing our carbon neutrality commitment to COP21 delegates in Paris, we’ve become 100% carbon neutral
Signify has reduced our operational emissions by more than 70% since 2010, making us the first major lighting company in the world to reach carbon neutrality.
We’re also committed to a new journey which will see us focus on “doubling our positive impact on the environment and society” through Brighter Lives, Better World 2025, our new five-year sustainability programme.
“We would like to congratulate Signify on their fantastic achievement of carbon neutrality across all operations in 2020,” said Helen Clarkson, CEO of The Climate Group, in a recent company press release.
Here’s how we did it:
In 2016, we signed a deal with a windfarm in Texas to reduce carbon emissions in the US, and in late 2019 we made an agreement to purchase at least ten years of electricity from an onshore Polish windfarm that generates around 92 Gigawatt hours annually. This powers our Polish operations, which account for 25% of our global electricity consumption.
In 2017, Signify was the first major international company to secure a renewable electricity deal in the Gulf region using the pioneering International REC, a renewable energy-documenting standard used in regions where no similar documentation scheme exists. We’re also shifting our car fleet to electric vehicles.
To close the emissions gap, Signify has been involved in a number of carbon offsetting programs through our offsetting partner South Pole. These have reduced environmental impacts and increased the wellbeing of local communities. Specific actions include a reforestation project in Colombia, and an off-grid solar energy program in India to give rural populations more access to light.
Our Brighter Lives, Better World 2025 program is all about doubling. Doubling the pace at which we achieve the goals of the Paris Agreement, doubling our circular revenues, doubling our proceeds from innovations that benefit society, and doubling the percentage of women in leadership, all within the next five years.
“The 2020’s are the Climate Decade as we need to at least halve global emissions by 2030 to get us on track to meet the goals of the Paris Agreement,” Climate Group’s Clarkson said, “so we need more companies to follow Signify’s lead in setting their own net zero targets.
A version of this article first appeared on Climate Change News.
Signify (Euronext: LIGHT) is the world leader in lighting for professionals, consumers and the Internet of Things. Our Philips products, Interact systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. In 2023, we had sales of EUR 6.7 billion, approximately 32,000 employees and a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been in the Dow Jones Sustainability World Index since our IPO for seven consecutive years and have achieved the EcoVadis Platinum rating for four consecutive years, placing Signify in the top one percent of companies assessed. News from Signify can be found in the Newsroom, on X, LinkedIn and Instagram. Information for investors is located on the Investor Relations page.
