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Last updated on April 19, 2014 at 21:20 EDT

The Ellen MacArthur Foundation Announces Philips as a Global Partner at the Inaugural Circular Economy International Summit

June 19, 2013

LONDON, June 19, 2013 /PRNewswire/ –

The Ellen MacArthur Foundation today announced that Philips will become a partner for
the next three years to help accelerate the transition to the circular economy.

Following the Foundation’s successful founding partnerships with Renault, BT/Cisco
(working together), Kingfisher and National Grid, Philips will join the ranks to trigger
circular economy innovation within their own business and support the Foundation’s work in
education.

The announcement was made at the Foundation’s Circular Economy 100 summit – the
largest ever gathering of businesses, academics and entrepreneurs on the transition to the
circular economy. As the Foundation and its founding partners work to build the new
alliance of 100 corporations, emerging innovators and regions, news also came that Royal
BAM, H&M, Unilever, Innoverne, and the Agency of Design are the latest members to join.

Dame Ellen MacArthur stated: “The circular economy provides a compelling framework for
a regenerative economy, but the challenge still remains to transform the idea into action
at scale. Philip’s commitment both to support the Ellen MacArthur Foundation and focus
internally on circular economy innovation will add considerable momentum to the
transition”.

Frans Van Houten, CEO of Royal Philips explained, “At Philips we strive to make the
world healthier and more sustainable through innovation. Our goal is to improve the lives
of 3 billion people a year by 2025. For a sustainable world, the transition from a linear
to a circular economy is a necessary boundary condition. A circular economy requires
innovation in the areas of material, component and product reuse, as well as related
business models. By using materials more effectively economic growth will eventually be
decoupled from the use of natural resources and ecosystems. In such an economy, the lower
use of raw materials allows us to create more value.”

The summit hosted sessions from global leading business leaders and practitioners
including Professor Dr. Michael Braungart & William McDonough (co-authors of Cradle to
Cradle), Jeremy Oppenheim (Principal, McKinsey & Company), Walter Stahel (member of the
Club of Rome and co-founder of Product life Institute) and Carlos Tavares (COO Renault
Group).

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 http://www.philips.com/newscenter.

SOURCE Ellen MacArthur Foundation


Source: PR Newswire