Royal Philips Electronics said that it has established a goal of achieving 30% of total revenues from "green products" by 2012, up from 15% of group sales in 2006. The announcement is part of Philips' latest EcoVision program, which focuses on reducing the energy consumption of its products and facilities.
The company's fourth EcoVision program will also focus on increasing the energy efficiency of its operations by 25% while doubling its investment in green innovations to $1.4 billion in the next five years, the company said. By the end of 2008 all the company's offices will be outfitted with energy efficient lighting systems, with further reductions in expected in greenhouse-gas emissions in production and distribution. Philips has also asked employees to be environmentally aware on a day-to-day basis in their working environment.
Philips Green Products initiatives are designed to lessen their impact on the environment in several "green focal areas:" energy consumption, packaging, hazardous substances, weight, recycling, and lifetime reliability.