Royal Philips is the fastest riser amongst technology brands in the annual ranking of the top 50 Best Global Green Brands by Interbrand, a global brand consultancy.

Advancing nine places, Philips has the second-largest increase of all brands and now holds the 14th position, up from 23rd last year, the company said in a press release.

“With the launch of a revised brand vision and identity, Philips has paved the way to improve the lives of over 3 billion people a year through meaningful innovation,” Interbrand said.

The growth in Philips’ green perception is bound to continue to deliver real value for the brand, as it shows the world how strong it performs on corporate citizenship and sustainability-related issues.

According to Philips, sales of the firm’s green products exceeded half of total sales. “Philips believe that adopting a circular economy approach to our business models, materials reuse and design, will further give us a competitive advantage while making the world more sustainable,” a company official said. (Yonhap)