Our work on the SDGs



Transition to a Circular Economy

Decoupling growth from resource consumption

For a sustainable world, the transition from a linear to a circular economy is essential. A circular economy aims to decouple economic growth from the use of natural resources by using these resources more effectively. As a leader in innovation, we have long believed in an approach which integrates systems thinking and looks beyond the linear ‘take, make, dispose’ model to a circular model of regenerative product design, new business models, reverse logistics and enabling communication technologies.

By definition, a circular economy is a driver for innovation in the areas of material, component and product reuse, as well as new business models such as solutions and services. In a circular economy, the more effective use of materials enables to create more value, both by cost savings and by developing new markets or growing existing ones.

Philips is one of the Global Partners of the Ellen McArthur foundation, engaged partner with the World Economic Forum and part of the Circle Economy cooperative. The focus is on convening value chain partners to develop, pilot and validate circular value propositions; development of thought leadership and dissemination of key insights; development of assets and resources required to scale change across the business. In the new Sustainability 2020 program “Healthy People Sustainable Planet” a target of 15% of total revenues from circular solutions has been set, nearly doubling the 2015 level.

Access to healthcare is a key driver of sustainable socioeconomic development. In the last decade, there has been a rise in economic prosperity in many countries in Africa. Despite tremendous progress, there is still a substantial unfulfilled need for effective healthcare that is affordable, equitable and efficiently managed. Philips is deeply committed to supporting therequired transformation of healthcare, and to collaborating with complementing partners (Frans van Houten, CEO Philips).

More info about project ›
Philips
Lead Organisation
Philips

Lead country
Global/Netherlands

Lead business line
Innovation & Strategy

Status
Active
Type
Project

Total budget
N/A

Strategic Partners
Ellen MacArthur Foundation, World Economic Forum, Circle Economy

Impact on primary SDG
responsible-consumption

Impact on other SDGs

Targeted Region of execution
Global

Start date
January 2013
End date
January 2030

Targeted Beneficiaries
Customers and value chain partners
Number Beneficiaries
N/A
Point of contact
Markus Laubscher
Function
Corporate Sustainability