Philips Says More Than Half of Sales in 2013 Were Green Products

By Ian Walker

Koninklijke Philips N.V. (PHIA.AE) said Tuesday that green product sales reached 11.8 billion euros ($16.19 billion) in 2013 and now represent 51% of overall sales, reaching its EcoVision target two years ahead of schedule.

The Dutch medical and electronics firm said all sectors contributed to the growth of sales of green--or environmentally friendly--products. The healthcare division expanded its portfolio with 13 new products that improve patient outcomes, provide more value and expand access to care.

In 2013, Philips invested EUR509 million in green innovation.

"These achievements are a testimonial of our long-standing belief that sustainability is a key enabler of value creation and offers substantial opportunities to innovate and grow, even in the current challenging economic circumstances," said Jim Andrew, chairman of the company's sustainability board and Philips' chief strategy and innovation officer.

Philips' EcoVision program is focused mainly on healthcare and environmental issues and comprises key performance indicators in the areas of improving people's lives.

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