Philips receives high score for its ESG practices from S&P Global Ratings - Seite 2

In the Social domain, Philips is recognized for being “better positioned than many industry peers to provide access to medical care to customers and communities because of its diversified regional footprint and portfolio of products and services.” The report also applauds “Philips’ commitment to pay a living wage to all its staff...”, and recognizes that “its management of human rights risk in its supply chain sets the company apart from peers.”

For Governance, S&P Global Ratings notes that “Philips’ governance structure follows the Dutch Corporate Governance Code...”, which the report views as “aligned with international best practices”. The evaluation also notes that “Philips has comprehensive financial and sustainability disclosures audited by an external auditor...”, including “policies on most material environmental and social risks, and approaches used to calculate key performance indicators, including green revenue and millions of lives improved.”

Enhanced ESG framework
In September 2020, as part of its ongoing commitment to making the world healthier and more sustainable through innovation, Philips launched an enhanced and fully integrated approach to doing business responsibly and sustainably. This framework comprises a comprehensive set of targets, commitments, and action plans across all the Environmental, Social and Governance dimensions that will drive further growth while acting responsibly towards the planet and society.

The full report is available here.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: [phone]
E-mail: [e-mail]

Derya Guzel
Philips Investor Relations
Tel.: [phone]
E-mail: [e-mail]

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.