Company deepens commitment to sustainability through new partnership with World Resources Institute

Company Website: http://www.usa.philips.com
WASHINGTON -- (Business Wire)

At the 6^th Annual EE Global Forum, the premier international energy efficiency conference hosted by the Alliance to Save Energy, Royal Philips issued a strong call for businesses and government to step up actions to implement energy efficiency measures.

First, with the rapid rise in urban populations, predicted to reach almost 70 percent of global populations by 2050¹, residential users of energy, who account for approximately 40 percent of the world’s energy use², have the ability to greatly increase energy efficiency. LED-based lighting technologies provide buildings with superior light performance and control, while providing the potential to reduce energy consumption up to 90 percent, and significantly reduce maintenance costs. In the U.S. alone, 85 percent of buildings were built before 1984, with more than 72 billion square feet of commercial space, the majority of which have not had lighting systems upgrades to more energy-efficient options.

For residential applications, today’s LED bulbs offer high-quality light, but use 80-90 percent less energy and last more than 20 times longer than traditional bulbs. In the U.S., an estimated 425 million 60-watt incandescent light bulbs are sold every year, representing approximately 50% of the domestic incandescent light bulb market³. According to calculations by Philips, this LED replacement has the potential to save enough energy to power the lights of 16.7 million U.S. households^{or 14.4 percent of the total number of households in the entire U.S.}

“We believe the public and private sectors can be doing more to stimulate investments in new innovations, accelerate market penetration of sustainable technologies, and make a significant impact on our energy footprint and the environment,” said Greg Sebasky, chairman, Philips North America. “In fact, Philips strongly supports the enactment into law of the Shaheen-Portman Energy Efficiency bill which would save billions of dollars for the U.S. economy by encouraging adoption of energy-efficient technologies. This bipartisan effort is a model for how business and government can work together to do what’s right for the environment and business.”

Listed in the Dow Jones Sustainability Supersector and on Corporate Knights 2013 ‘Global 100 Most Sustainable Corporations in the World’ List, Philips’ commitment to sustainability is recognized globally. Philips today further strengthened its commitment by announcing a new partnership with the World Resources Institute (WRI) to support research that ensures smart investments in renewable energy and energy efficient technologies are part of a clean and efficient future.

“We urgently need to ramp up sustainable solutions to meet the world’s growing energy needs—and our new partnership with Philips can help develop such solutions,” said Andrew Steer, president, World Resources Institute. “Philips is a world-recognized leader on energy efficiency and brings an important and respected voice to this conversation. We look forward to deepening our relationship with Philips to expedite the shift to a more energy efficient and lower-carbon future.”

As part of its role during the conference, Philips will be speaking on the role of standards in driving innovations in energy efficiency, such as the leaps gained in LED lighting launched from the L Prize competition. Follow the conversation and updates from EE Global on Philips Twitter @PhilipsLight and @PhilipsPR (#EEGlobal).

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2012 sales of EUR 24.8 billion and employs approximately 116,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.

¹ World Health Organization, Global Health Observatory, Urban Population Growth, http://www.who.int/gho/urban_health/situation_trends/urban_population_growth_text/en/

² World Business Council for Sustainable Development, Transforming the Market: Energy Efficiency in Buildings, http://www.wbcsd.org/transformingthemarketeeb.aspx

³ U.S. Department of Energy Web site: http://energy.gov/articles/winning-light-bulb-potential-save-nation-billions

Contacts:

Philips North America
Amy Shanler, 978-659-4463
Amy.shanler@philips.com

Source: Royal Philips