Philips 2004 Annual Report Download - page 14
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Sustainability
Our Sustainability Report 2003 – the second to be published –
covered the progress we made in our approach to sustainability.
Sustainability deals with integrating social, environmental and
economic responsibility. In 2004, for the second consecutive year,
Philips was ranked number one in its sector in the Dow Jones
Sustainability Index. Philips was noted for strengthening its
sustainability governance and vertically integrating sustainability
management in product divisions, businesses and regions; this has
enabled Philips to respond to unique market challenges in
developing countries.
The focus of our 2004 report is on the process of embedding
sustainability in our organization and company culture; in our
product design and manufacturing process; in our business
strategy; and in the relationship with our stakeholders outside
Philips.
The embedding process means moving away from isolated
initiatives and functions to a comprehensive, integrated and
balanced approach covering the environmental, social and
economic responsibilities. It involves seeing sustainability not as a
simple ‘add-on’, but as part of Philips’ strategy, underlining our
brand positioning. The progress we made over the past year will
be demonstrated in the 2004 Sustainability Report, which features
extended performance reporting. This includes new information
on health and safety, the EcoDesign process, supplier management,
social investments and the GBP.
13Philips Annual Report 2004