Ons werk aan de SDG's
Environmental Profit & Loss AccountMonetary valuation of the environmental impact
At Philips, they strive to make the world healthier and more sustainable through innovation. Their goal is to improve the lives of 3 billion people a year by 2025.
An Environmental Profit & Loss (EP&L) account is an economic valuation in EUR of the impact that a company generates to the environment. The Philips EP&L is based on Life-Cycle Assessment (LCA) methodology in which environmental impacts, e.g. climate change or human toxicity, are expressed in monetary terms using environmental prices.
The Environment & Safety consultants from Philips Innovation Services have actively contributed to the EP&L generation of Royal Philips by advising on methodology, providing support in data collection, and processing and guidance to the assurance process.
Royal Philips EP&L is unique for three reasons:
It is the first EP&L ever that obtained reasonable (highest level) assurance from an independent auditor, in this case Ernst & Young (EY).
The methodology used is fully transparent and open source using the readily available LCA methodology ReCiPe and the CE Delft environmental prices.
The EP&L is generated fully in-house using innovative software from the company EcoChain, allowing full control of a growing, internal environmental intelligence platform, with the potential to involve suppliers.
Communicating environmental performance in economic language that is well understood in society, will help to get the message across.
Furthermore, an EP&L provides insights in the main environmental hotspots of a company’s value chain from an overall business point of view. It can thus support the direction of sustainability programs.
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Lead business line
Impact on primary SDG
Impact on other SDGs
Targeted Region of execution
Michela van Kampen Function
Senior Consultant Sustainability Philips Innovation Services