Purpose in action – Why ESG matters to Philips
Philips’ purpose statement starts by expressing our belief that technological innovation can drive better outcomes and improve people’s health. We do this by making healthcare more accessible, personal, connected, resilient and sustainable.
The second part captures our commitment to our people and being the best place to work, promoting personal development and inclusion & diversity.
The third and final part focuses on delivering superior, long-term value to our customers and shareholders, while acting responsibly towards our planet and society, in partnership with our stakeholders. Let’s unpack what all of this means.
“For Philips, innovation is how we ensure our continued relevance in both the short and long term: by devising solutions to customers’ and consumers’ immediate unmet needs,” explains Marnix van Ginneken. “Acting responsibly safeguards our license to operate. And embedding sustainability in the way we do business is critical to ensuring our long-term relevance and impact.”