Signify has finally revealed a game plan to go with its commitment to reducing greenhouse gas (GHG) emissions by 90% across all areas of its operations by 2040.
The lighting company announced its new net zero commitment back in April 2024, noting it would go further than its previous 2030 target by targeting greenhouse gas emissions across all of its operations and value chain by 2040.
To achieve its ambitions, Signify plans to overhaul its entire value chain, advocating for widespread adoption of energy-efficient LED lighting, which could significantly decrease global GHG emissions — by as much as 1%, an impact comparable to halving the emissions attributed to the aviation industry.
Eric Rondolat, CEO of Signify, emphasised the company’s commitment, stating, “We fundamentally believe in the potential of light to positively impact society, and fully embrace the responsibility that comes with our leadership. As one of the first global companies to commit to verified science-based targets, we are today proud to raise our ambitions with Signify’s net-zero 2040 Climate Transition Plan.
“Our innovations continue to deliver leaps forward in energy efficiency and sustainable lighting technologies. We will continue to act with urgency, and use our voice to engage our customers, employees, partners, and public decision makers to accelerate climate action across our industry and beyond.”
Signify’s approach includes a series of robust measures, such as incentivising suppliers to switch to renewable energy, transitioning to electric vehicles within its logistics fleet, and enhancing the efficiency of LED lighting products.
With over 90% of its GHG emissions emanating from product use during their lifecycle, Signify’s focus remains on advancing the efficiency of lighting technologies. This effort has already led to a 50% absolute reduction in GHG emissions across Signify’s value chain since 2019.
In support of broader climate goals, earlier this year Signify partnered with the Climate Group and other entities to initiate the Renovation Revolution, aiming to boost renovation rates within the European Union – a critical move to meet the EU’s 2050 net-zero targets.
Helen Clarkson, CEO of Climate Group, praised the initiative, saying, “Climate Group welcomes this Climate Transition Plan by Signify, which shows what can and must be achieved by companies if we are to decarbonise across the economy and reach net-zero. We’ve been working in partnership for over 15 years to accelerate the global rollout of LEDs and work towards a more energy efficient built environment. We look forward to many more years working together with Signify, along with other businesses and government partners, to unlock a renovation revolution and to double energy efficiency by 2030.”
Paul Dickinson, Co-Founder of Transition Value Partners, also endorsed Signify’s efforts, noting, “Signify is the energy efficiency powerhouse behind Philips lighting, and the biggest manufacturer of LEDs in the world. Low energy lighting is pivotal to reducing an activity representing 2% of global emissions. As the premium global brand for responsible manufacturing and ultra-low power consumption, more and more companies committed to a just transition to net zero will specify Signify, not least to comply with their CSRD supply chain requirements. This company is a leader in global decarbonisation, and its pioneering transition plan raises the bar, while showing its commitment to helping others meet their Science-Based Targets and get to net-zero.”
While the company now has a plan for how it will cut its greenhouse gas emissions, all eyes will be on Signify to see some detailed results. The firm has promised to provide regular updates on its progress in its annual report, and we’ll have all the details here at Electrical Review.