EINDHOVEN, the Netherlands – Signify has made significant progress towards the targets of its Brighter Lives, Better World 2025 sustainability program. At the end of the program’s second year, Signify is on its way to doubling its positive impact on the environment and society. At the same time, it remained carbon neutral in its operations and continued the use of 100% renewable electricity.
Having reduced its operational carbon footprint by more than 70% over the last decade, Signify ramped up its efforts in 2022, not just in operations, but across the entire value chain, to minimize the impact of climate change. At the end of 2022, the company is on track to deliver against the ambitious goal of doubling the pace of the Paris Agreement’s 1.5ᵒ scenario by the end of 2025 across all Scopes.
Increasing Circular revenues to 29% of global revenues and Brighter lives revenues to 27% is a significant step towards the target of 32% for both revenue streams by the end of 2025. For Circular revenues, this positive trend is driven by serviceable and circular luminaires. The Brighter lives revenues benefitted from a strong contribution from the consumer well-being and safety & security portfolios.
At the same time, Signify increased the percentage of women in leadership to 28%, an improvement versus the end of 2021, yet slightly off track to reach its 2025 target of 34%. We will continue our effort to improve diversity at all levels, attracting candidates from more diverse pipelines and driving development and internal mobility to increase representation across our company.
“The goals of our Brighter Lives, Better World 2025 program are ambitious, so I’m proud of how much progress we’ve made at the end of the program’s second year,” said Maurice Loosschilder, Head of Sustainability at Signify. “We need to address the important social and environmental challenges of our time, by looking beyond our own operations to increase our positive impact across our entire value chain.”
- Climate action revenues of 65%
- Zero manufacturing waste to landfill
- 8.3 million lives lit through the Signify Foundation since 2017
- Safe and healthy workplace with a Total Recordable Case rate of 0.16
- Supplier sustainability performance rate of 94%
As recognition of its progress, Signify featured in the Dow Jones Sustainability World Index for the sixth consecutive year since our IPO. Signify was also included in CDP’s 2022 ‘Climate A list’ for reducing its own environmental impact. Additional recognition for the company’s sustainability leadership came from Sustainalytics, Euronext Benelux 20, VBDO, MSCI, EcoVadis and EquiLeap.
For more details on Signify’s sustainability performance, visit the website or download the Signify Annual Report 2022.