Philips achieves high position in LexisNexis sustainable innovation ranking

Philips has been recognized as one of the world’s leading companies whose innovations help to advance the United Nations Sustainable Development Goals (SDGs) on the first-of-its-kind LexisNexis ‘Top 100’ list. LexisNexis assesses companies on the basis of their Patent Asset Index – a measure not only of the company’s number of patents but also of their quality and impact – Philips was one of the highest scorers among health technology companies for the UN SDG3, Good Health and Well-being.

The analysis, published by LexisNexis Intellectual Property Solutions in its 2023 ‘ Exploring the Global Sustainable Innovation Landscape: The Top 100 Companies’ report, identifies companies whose innovations have exceptional SDG-related patent portfolio strength, giving them the potential to make substantial contributions to solving the global challenges outlined in the SDGs.

With the release of its Global Sustainable Innovation Landscape report, LexisNexis introduces a new standard of excellence for responsible and sustainable business. Philips’ high ranking in the report is a reflection of our commitment to UN Sustainable Development Goal 3: Good Health and Well-being,” said Marnix van Ginneken, Chief ESG and Legal Officer at Royal Philips. “As a responsible leader in health technology, we have defined a clear purpose that guides everything we do: improve people’s health and well-being through meaningful innovation. People-centric and patient-centric innovation has always been at the core of the company. By mapping patents to the SDGs and ranking SDG-related corporate patent portfolios by strength, the Global Sustainable Innovation Landscape report identifies companies like ours that are building a healthier, prosperous, and more sustainable world.

Philips is one of the world's leading innovators in health technology, investing more than EUR 1.7 billion annually in research and development to deliver patient- and people-centric innovation. Leading-edge innovations in which Philips holds strong patent positions include:

With its global presence, strong informatics platforms, ambulatory monitoring and imaging data, and personal health offerings, as well as strong capabilities to support care across settings, the company is well positioned to help improve people’s health and healthcare outcomes, and make care more convenient and sustainable, both in the hospital and the home.

As a global leader in health technology, SDG3 remains a key focus. However, as taking care of the planet is an important part of improving people’s lives, Philips also actively addresses SDG12: Responsible Consumption and Production and SDG13: Climate Action. To reduce the extraction of finite natural resources, the company is committed to circular economy solutions that retain value and minimize waste. For example, Philips’ Circular Edition portfolio allows customers to benefit from refurbished, upgraded and quality-tested technology at a lower cost. As part of Philips’ ambition to close the loop for all professional equipment by 2025, over 3,400 systems were traded in by customers in 2022. By 2025, Philips aims to generate 25% of the company’s total revenue from circular propositions, with 100% of its products designed using Philips’ whole lifecycle EcoDesign principles.

In terms of action to mitigate climate change, the company has been carbon neutral in its operations since 2020, and its supplier sustainability program is helping achieve carbon neutrality throughout its supply chain. Using the expertise and knowledge base Philips has built up, it is now also helping healthcare system customers - global healthcare systems account for 4.4% of global CO₂ emissions [1] - to decarbonize their operations. For example, Philips is supporting Champalimaud Foundation in Portugal to halve its diagnostic imaging carbon footprint by 2028.

Philips’ longstanding commitment to innovation has received widespread recognition. For example, Philips took a top ranking in medical technology patent filings at the European Patent Office and was included on the Clarivate Top 100 Global Innovator list for the 10th year in a row in 2023.

[1] Health Care Without Harm (2019). Health care’s climate footprint: How the health sector contributes to the global climate crisis and opportunities for action (p.22). https://noharm-global.org/documents/health-care-climatefootpri... Scope 1 direct emissions originate from the hospitals’ own operations: emissions from the building and transportation. Scope 2 indirect emissions are generated by the production and distribution of energy that is consumed by the hospital. Scope 3 are indirect CO2 emissions caused by the production and transportation of goods and services needed by hospitals such as medicines, food, equipment, clothing and waste treatment.