Signify announced that its greenhouse gas emissions have been halved since 2019, with cumulative emission reductions reaching 334 million tons of carbon dioxide equivalent, exceeding the level required to achieve the 1.5 degrees Celsius temperature control target under the Paris Agreement. In 2023, Signify disclosed the greenhouse gas emission data of the entire value chain, including carbon emissions during the use phase of scope 3 products, which was reduced by 22% compared with 2022. Signify will include greenhouse gas emissions data, including scope 3 emissions, in its 2023 annual report. Specific sustainability information related to Signify’s “Sparkling Life, Better World” 2025 sustainability plan has received reasonable assurance from the audit.
Eric Rondolat, CEO of Signify, said: “Reasonable assurance of greenhouse gas emissions data across the entire value chain, including scope 3, is an unprecedented milestone for a multinational manufacturing company like Signify, especially that’s considering our product portfolio has tens of thousands of different products. We will use emission data accurate to the product level to further improve the transparency of environmental impact-related data, empower customers to make informed decisions, and support them in achieving their sustainable development goals. I’m extremely proud of the hard work and innovation of everyone in our company. We will continue to lead the industry change and fundamentally transform towards energy-saving and connected LED lighting.
These emission reduction targets are part of Signify’s sustainability plan. Launched in 2020, the plan is aligned with the United Nations Sustainable Development Goals and aims to double environmental and social contributions by 2025. Under the guidance of this plan, Signify is catching up to the 1.5 degrees Celsius temperature control target under the Paris Agreement at double the speed. Signify also committed to doubling circular economy revenue to 32% by the end of 2025, doubling “Sparkling Life”-related revenue to 32%, and doubling the proportion of female leaders to 34%.
Maurice Loosschilder, head of sustainability at Signify, said: Leadership in the field of sustainable development means leading the way. Since 2020, we use 100% renewable electricity. Our operational emissions decreased by 31% compared to 2019 and 77% compared to 2010. In addition to achieving these emissions reduction milestones, we are also exceeding our circular economy revenue growth targets. Currently, circular economy revenue accounts for one-third of Signify’s revenue, and we are less than one percentage point away from achieving our “Shining Life”-related revenue target. This shows that guided by common goals and sustainable development strategies, we can unlock unlimited potential. While these achievements are something to be proud of, we know there is still more to do. In the next few years, we will go further and faster.