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    Reference: 20240145
    Release date: 21 June 2024

    Promoter – Financial Intermediary

    KONINKLIJKE PHILIPS NV

    Location

    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)

    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

    Milestone
    Under appraisal
    Approved
    23 July 2024

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    The Netherlands EU Countries Industry