Philips 2015 Annual Report Download - page 184

Sustainability statements 14
184 Annual Report 2015
Stakeholder overview (non-exhaustive)
Examples Processes
Employees - European Works Council
- Individual employees
Regular meetings, quarterly My Accelerate! Surveys, employee development process,
quarterly update webinars. For more information refer to section 5.2, Social
performance, of this Annual Report.
Customers - Hospitals
- Real estate developers
- Consumers
Joint (research) projects, business development, Lean value chain projects, consumer
panels, Net Promoter Scores, Philips Customer Care centers, Training centers, social
media
Suppliers - Chinese suppliers in the Pearl
and Yangtzhe river deltas
- HP, Randstad, Maersk
Supplier development activities (including topical training sessions), supplier forums,
supplier website, participation in industry working groups like COCIR and EICC. For more
information refer to sub-section 14.2.8, Supplier indicators, of this Annual Report.
Governments,
municipalities, etc.
- European Union
- Authorities in Los Angeles,
Singapore
Issues meetings, annual Innovation Experience, research projects, policy and legislative
developments, business development
NGOs - Dutch Sustainable Trade
initiative (IDH)
- Friends of the Earth
Issues meetings, cross-sector (multi-stakeholder) projects, joint projects, social
investment program and Philips Foundation
Investors - Mainstream investors
- ESG investors
Webinars, roadshows, capital markets day, investor relations and sustainability accounts
Reporting standards
In this report, we have followed relevant best practice
standards and international guidelines; the IIRC
Integrated Reporting <IR> framework and the Global
Reporting Initiative’s (GRI) G4 Sustainability Reporting
Guidelines.
Sustainability is integrated in our company strategy and
embedded in the organization. We have developed a
value creation model (section 4.2, How we create
value, of this Annual Report), including the six capitals,
in line with the <IR> framework. A detailed overview of
the G4 Comprehensive Indicators is provided at the end
of this section.
We signed on to the United Nations Global Compact in
March 2007, joining thousands of companies from all
regions of the world as well as international labor and
civil society organizations to advance 10 universal
principles in the areas of human rights, labor, the
environment and anti-corruption. Our General Business
Principles, Sustainability and Environmental Policies,
and our Supplier Sustainability Declaration are the
cornerstones that enable us to live up to the standards
set by the Global Compact. This is closely monitored
and reported, as illustrated throughout this report,
which is also our annual Communication on Progress
(COP) submitted to the UN Global Compact Oce.
As part of our commitment to the Sustainable
Development Goals (SDGs), we use this report to
communicate on our progress towards the relevant
SDGs (please refer to sub-section 14.2.7, Stakeholder
Engagement, of this Annual Report), next to our
reporting into the SDG Compass reporting tool.
Material aspects and our focus
We identify the environmental, social, and governance
aspects which have the greatest impact on our business
and the greatest level of concern to stakeholders along
our value chain. These direct or indirect aspects may
represent opportunities and risks and inuence our
ability to create, preserve or erode economic,
environmental and social value for our stakeholders
and Philips. Assessing these aspects enables us to
prioritize and focus upon the most material issues and
eectively address these in our policies and programs
as well as measure and understand their implications in
nancial and non-nancial terms.
Our materiality assessment is based on an ongoing
trend analysis, media search, and stakeholder input. In
2015, we have updated our assessment by asking a
diverse group of stakeholders (incl. customers,
suppliers, investors and NGOs) to evaluate the
materiality of a long-list of aspects. The results are
reected on the vertical axis of the materiality matrix.
The scores on the horizontal axis are based on Philips’
assessment to the best of our knowledge. Our
materiality assessment has been conducted in the
context of the GRI G4 Reporting Framework and the
results have been reviewed and approved by the Philips
Sustainability Board.
The results of this analysis are given in the matrix below
and the key material aspects as well as the links to the
relevant sections in this report are provided as well.