Philips Lighting to sell two billion LED lightbulbs by 2020
Leaders from Philips Lighting (Euronext Amsterdam: LIGHT), meets with Energy Ministers attending the seventh Clean Energy Ministerial (CEM7) summit in San Francisco, where the company will announce a commitment to sell more than two billion1 energy efficient LED light bulbs by 2020.
Reaching this goal is estimated to save an amount of energy equivalent to that generated by 60 medium-sized coal-fired power stations with emissions equivalent to those from 24 million cars by 2020. The company will also reaffirm its pledge to make its global operations carbon neutral by 2020 and say that it expects electricity for its US operations to be 100% from renewable sources later this year.
The Clean Energy Ministerial (CEM) is a forum of countries working together to accelerate the global transition to clean energy.
Bill Bien, Head of Strategy for Philips Lighting commented, “We plan to turn the agreement at the COP21 UN Climate Change Summit in Paris into tangible action. Energy efficiency is the low-hanging fruit in the fight against climate change. Delivering on this pledge will be positive for our environment as well as the global economy, resulting in energy savings of around EUR 12 billion annually by 2020 that could be invested elsewhere. The clock is ticking for humanity — action is needed now before it’s too late.”
The Philips Lighting pledge supports the Global Lighting Challenge – a campaign to deploy 10 billion high efficiency, high quality affordable light bulbs (such as LED) as soon as possible to combat climate change. The campaign was launched last December by the Clean Energy Ministerial at the COP21 UN Climate Change Summit.