BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT
For Philips to designate a product as green, the technology must offer a significant environmental improvement in one or more of the Philips green focal areas: energy efficiency, packaging, hazardous substances, weight, recycling and disposal, and lifetime reliability, compared to similar products on the market.
In 2007, sales of green healthcare products increased by 35%, boosted in particular by the company's magnetic resonance imaging (MRI) systems and patient monitors. For example, Philips' Achieva 3.0T X-series MRI scanner provides an environmental impact reduction of 32% compared with previous models, the company reports. In addition, Philips reports that its new IntelliVue MMS X2 patient monitor also has proven its green credentials by consuming 52% less energy during use than similar models.
Last year, green product sales accounted for 20% of total Philips sales, compared with 15% in 2006. In September 2007, Philips announced its EcoVision4 program, aiming to increase sales of green products to 30% of total revenues within five years. The company is also looking to invest EUR1 billion in green innovation and to improve the energy efficiency of its offices and production facilities by 25% in the next five years.