AMSTERDAM: Philips has renewed its partnership with the Ellen MacArthur Foundation for a further three years in order to focus on circular design and circular economy metrics.
The two organisations are collaborating on the Philips-initiated Student Service Design Challenge, a global design award that encourages and inspires the next generation of designers to develop services that benefit people and the planet.
Philips became carbon neutral in its operations and reached a circular economy revenue target of 15 percent of sales in 2020. All new products now have to meet the company’s EcoDesign circularity requirements in a bid to increase such sales to 25 percent.
“Transitioning to a circular economy is central to our drive to make the world healthier and more sustainable through innovation,” said Philips CEO Frans van Houten. “The strategic partnership with the Ellen MacArthur Foundation has proven valuable in bringing like-minded organizations and industries together, to accelerate learning and drive critical action to combat global challenges.”
Story Type: News