Taking climate action, here’s our plan

September 21, 2020

Achieving our carbon-neutral goal in 2020 gives us a moment to celebrate and reflect on how far we’ve come, but our eyes are on the future

At Signify, sustainability is core to everything we do. Our business and consumer customers expect to work with companies that make a positive contribution. Operating sustainably is not at odds with our growth, but is our guiding direction and competitive advantage.

With this in mind, we have identified five strategic areas where we will grow our business while furthering our contribution to a better and more sustainable world. These five growth areas are defined based on the major trends facing society and on the United Nations Sustainable Development Goals.

A world in crisis

The last five years have been the hottest on record. One million species face extinction. As the world’s media turns to Climate Week New York, the needs of our planet cannot be ignored. As a company and as individuals, our message is clear: there is no ethical or commercial justification for ignoring this reality. We recognize humanity’s imperative to act decisively and immediately to alleviate the crisis of climate change.

We are carbon neutral

We have already set and achieved ambitious sustainability commitments. As of September 2020, Signify is carbon neutral and uses 100% renewable electricity. We’ve shifted to more energy-efficient technologies and have two groundbreaking virtual power purchase agreements which support our commitment. We’re proud to be recognized as one of the most sustainable companies in the world.

Our next target is still more ambitious: to double the pace of the Paris Agreement. This means we aim to achieve the 2031 target set out for companies in the Paris Agreement six years early.

Photo credit: Jason Blackeye/Unsplash

Pioneering sustainable technology

For more than a decade, Signify has been enabling the transition from conventional lighting to high-efficiency LEDs. This switch alone consumes 50% less electricity. But this is just the start in the transition to cleaner, more efficient lighting technology.

Connected lighting control systems turn light sources into data points, delivering light when and where it’s needed. For example, sensors can detect and adjust the output based on available daylight, or switch lights off when no one is using a room. These systems can save an additional 30% electricity.

Expanding our solar powered lighting will provide further opportunities for our customers to save electricity by harnessing the power of natural resources. Being at the forefront of these leading technologies is at the heart of our strategy.

Our 2.5 billion + LEDs sold save CO2 emissions equivalent to 23 million cars."

Investing in offsetting projects

Unavoidably, there is a remaining portion of carbon emissions we cannot eliminate. While our focus continues to be on minimizing our emissions, we also invest in offsetting projects with social and environmental benefits. In a long-standing partnership with South Pole, an award-winning project developer and global market leader in sustainability solutions, we have identified projects that help us support communities in their transition to a low-carbon economy.

We congratulate Signify for continuing to champion the results-based climate action we so urgently need. South Pole is thrilled to have been supporting Signify on its Climate Journey for nearly half a decade now, helping to channel Signify's support to not only reduce greenhouse gas emissions in India, Colombia, and Zimbabwe, among others, but also to benefit the well-being of local communities around the world.”

Renat Heuberger

CEO, South Pole

The next chapter

Achieving our carbon-neutral goal in 2020 gives us a moment to celebrate and reflect on how far we’ve come, but our eyes are on the future. Month on month, the impact of climate change becomes more and more clear.

It’s our job not just to excel at what we do in the current reality, but to transition our industry to meet the needs of the future.

Photo credit: Guy Bowden/Unsplash

About the author:

Zhizhen Wang

Sustainability Program Manager

About Signify

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.