Signify: We’re ahead of sustainability target

Signify has announced that it is ahead of schedule to achieve its 2025 target to reduce greenhouse gas emissions by 40 per cent compared to 2019.

That’s double the pace required by the Paris Agreement.

Earlier this year, the company announced that it had halved emissions since 2019, achieving a cumulative emissions reduction of 334 million tonnes CO2e beyond the level required to meet the Paris Agreement 1.5-degree target.

In 2023 the company reported a yearly reduction of 22 per cent in 2023.

The targets were set as part of Signify’s sustainability programme, launched in 2020. The programme is aligned to the United Nations Sustainable Development Goals and aims to double Signify’s positive impact on the environment and society by the end of 2025.

As part of this program, the company is reducing its emissions at double the pace required by the Paris Agreement’s 1.5-degree scenario.

The company says that in the first half of the year, its circular revenues increased to 35 per cent, up 1 per cent on last quarter and ahead of the 2025 target of 32 per cent. The main contribution came from serviceable luminaires for the professional market and LED luminaires for consumers.

The percentage of women in leadership positions increased to 29 per cent, a 1 per cent improvement over the last quarter but slightly behind the 2025 target of 34 per cent.

Signify says it continues its efforts to increase representation through focused hiring practices for diversity at all levels, and through retention and engagement to reduce employees leaving.

Its ‘Brighter lives’ revenues remained at 31 per cent, on track to reach the 2025 target of 32 per cent. This includes a strong contribution from consumer products that support health and well-being, mainly EyeComfort, and professional luminaires that are Dark Sky compliant, reducing the impact on nature.

• Signify will be sharing its sustainability strategies and insights at Circular Lighting Live 2024, Recolight’s flagship conference and exhibition, which takes place on Wednesday 9 October 2024 at the Royal College of Physicians in London. Free to specifiers, Circular Lighting Live 2024 will feature leading experts, specifiers and policy makers who will share their insights into forthcoming standards and legislation, emerging technologies and new business models. More info: www.circularlighting.live