77.9% in Newsweek Green Ranking 2017
This company received a score of 77.9/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
82/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 82/100 in the Health Care Equipment & Supplies category of the 2019 SAM Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices. The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Responsible Business Alliance member
This company is a member of the Responsible Business Alliance (formerly the Electronic Industry Citizenship Coalition), a non-profit coalition of electronics companies which supports the rights and wellbeing of workers and communities worldwide affected by the global electronics supply chain. RBA members commit and are held accountable to a common Code of Conduct and utilize a range of RBA training and assessment tools to support continuous improvement in the social, environmental and ethical responsibility of their supply chains.
Ellen MacArthur Foundation Global Partner
This company is a global partner of the Ellen MacArthur Foundation, whose stated mission is to accelerate the transition to a circular economy. The Ellen MacArthur Foundation works with business, government and academia to build a framework for an economy that is restorative and regenerative by design.
Responsible Minerals Initiative member
This company is a member of the Responsible Minerals Initiative (formerly the Conflict-Free Sourcing Initiative), which helps companies address conflict minerals issues in their supply chains. The RMI provides information on conflict-free smelters and refiners, common tools to gather sourcing information, and forums for exchanging best practices on addressing conflict minerals. Membership is open to companies that use or transact in tantalum, tin, tungsten or gold (3TG). Founded in 2008 by members of the Electronic Industry Citizenship Coalition and the Global e-Sustainability Initiative.
This company has sustainability claims on its website covering their social and environmental approaches.
In 2018 Philips was fined US$34.9 million after being found guilty of intervening to prevent retailers in France from selling everything from kitchen appliances and vacuum cleaners to electric toothbrushes and trimmers below its recommended resale prices.
Six firms, including this company, were fined a record 1.47b euros (AU$1.89b) in Dec 2012 by EU antitrust regulators for fixing prices of TV and monitor cathode-ray tubes for nearly a decade between 1996 and 2006. Philips had the largest penalty of 313m euros.
In 2014 this company and two others (Samsung and Infineon) were fined a total of 138m euros by the European Commission for a price fixing scheme for chips used in smartphones. The electronic giants colluded on pricing, contracts and capacity between 2003 and 2005. Philips' fine was 20.2m euros.