Philips receives sixth consecutive VBDO Responsible Supply Chain Management Award
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 13 December 2013
Release date- 11122013 - Amsterdam, The Netherlands - Royal Philips (NYSE:PHG, AEX:PHI) is ranked first among the forty largest publicly listed Dutch companies benchmarked for Responsible Supply Chain Management by The Dutch Association of Investors for Sustainable Development.
For the sixth year in a row, Philips' has maintained its leadership position and scored a 49 out of a possible 52 points, equaling a 94% rating.
In presenting the award to Philips, the jury commended Philips for its transparent and complete reporting methods and the company's dedication supporting suppliers in improving their sustainability performance. 'We are very pleased that we have been able to maintain our leadership performance year on year,' commented Fredrick Spalcke, Chief Procurement Officer at Philips. 'Transparency of our supply base and our multistakeholder programs are a true testimonial to the value and growth which can be generated by embedding supplier sustainability within the company strategy.'
Few weeks earlier, Philips was also rewarded with the Crystal Award ('De Kristalprijs'), acknowledgement for the most transparent Annual Report in the Netherlands, initiated by the Dutch Ministry of Economic Affairs. Philips' integrated report was praised for including corporate social responsibility (CSR) which is clearly embedded in the organization, strategy and innovation.
In both awards, Philips' attention to stakeholder engagement and approach to issues like conflict minerals and supply chain responsibility were recognized.
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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 114,000 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.
About the VBDO
The VBDO (Dutch Association of Investors for Sustainable Development) aims at generating a sustainable capital market, a market that does not solely focus on financial aspects but also includes environmental and social factors. VBDO is the only organization in the Netherlands representing the interests of sustainable investors. In their annual benchmarking, the publicly available reporting of large publicly listed Dutch companies is analyzed to assess their supply chain sustainability performance.
The VBDO benchmarking methodology assesses the performance of Dutch publicly listed companies in the field of Supply Chain Sustainability and determines rankings based on indicators such as Governance & Vision, Policy and Management.
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