Case Study: Philips achieves clearer environmental profit and loss reporting with Ecochain

Philips cuts environmental impact 28% with Ecochain

Philips, a global company focused on health technology, sought to measure and report its environmental footprint to meet ambitious climate targets. To achieve this, Philips engaged the vendor Ecochain to implement its Helix software for conducting Life Cycle Assessments (LCAs) and calculating an Environmental Profit & Loss (EP&L) account.

Using Ecochain's platform, Philips was able to calculate the monetary value of its annual environmental impact across its entire value chain. The results enabled Philips to identify key impact hotspots, leading to a 28% improvement in its total environmental impact, which was reduced from €6.8 billion in 2019 to €4.91 billion in 2020. Ecochain's solution provided Philips with the data needed to drive sustainable decision-making, engage its supply chain, and focus innovation efforts where they matter most.

Philips