For a sustainable world, the transition from a linear to a circular economy is essential. A circular economy aims to decouple economic growth from the use of natural resources by using these resources more effectively. As a leader in innovation, we have long believed in an approach which integrates systems thinking and looks beyond the linear ‘take, make, dispose’ model to a circular model of regenerative product design, new business models, reverse logistics and enabling communication technologies.
By definition, a circular economy is a driver for innovation in the areas of material, component and product reuse, as well as new business models such as solutions and services. In a circular economy, the more effective use of materials enables to create more value, both by cost savings and by developing new markets or growing existing ones.
Philips is one of the Global Partners of the Ellen McArthur foundation, engaged partner with the World Economic Forum and part of the Circle Economy cooperative. The focus is on convening value chain partners to develop, pilot and validate circular value propositions; development of thought leadership and dissemination of key insights; development of assets and resources required to scale change across the business. In the new Sustainability 2020 program “Healthy People Sustainable Planet” a target of 15% of total revenues from circular solutions has been set, nearly doubling the 2015 level.
For more information follow this link: http://www.philips.com/a-w/about/sustainability/sustainable-planet/circ…