By Jaime Llinares Taboada

Koninklijke Philips NV said Thursday that it is aiming for at least 50% of its suppliers to commit to science-based targets for reducing carbon emissions by 2025.

Emissions-reduction targets are considered to be science-based if they are in line with the goals of the Paris Agreement: limiting global warming to well-below 2 degrees Celsius and pursuing efforts to limit it to 1.5 degrees.

"Philips will take an active role in supporting and incentivizing its suppliers to bring about the changes needed to meet science-based emission-reduction targets within their organizations," it said.

Philips estimates that, if successful, the decarbonization of its supply chain will have an impact seven times greater than the reduction of emissions from its own operations.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

October 28, 2021 05:04 ET (09:04 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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