PHILIPS GREEN BOND FRAMEWORK (GBPP)

Promoter – Financial Intermediary

KONINKLIJKE PHILIPS NV

Location

• The Netherlands
• EU Countries

Description

The operation consists of the purchase of green bonds issued by Philips under its Sustainability Finance Framework (2024). The proceeds of the operation will finance the promoter's investments in the Netherlands and EU region, in line with the EIB's Climate Action and Environmental Sustainability (CAES) framework and eligibility criteria.

Objectives

The aim is to support Philips' new projects to improve product design, avoid the use of hazardous substances, save energy and resources. Additionally, the promoter intends to employ design for circularity, use more recycled content and make product packaging easier to recycle and re-use.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

not disclosed

Total cost (Approximate amount)

not disclosed

Environmental aspects

The underlying investments to be financed with the proceeds of this operation will contribute to the EIB's climate action and environmental sustainability objectives, in particular to climate mitigation, transition to a circular economy as well as sustainable use. These are not expected to fall under any of the Annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU). The EIB will assess Philips' capacity to identify, assess, manage and monitor the related environmental, climate, social impacts and risks, to make sure that these comply with the applicable EU and national socio-environmental legislation.

Procurement

Philips is a private company operating in the healthcare sector not having contracting entity status. As such, the EU procurement legislation is not applicable.

Status

Approved - 23/07/2024