AKZOY Akzo Nobel NV (QX)

   By Maitane Sardon 
 

Koninklijke Philips NV (PHIA.AE) said Thursday that all of its operations in the Netherlands are now powered by renewable energy, following its recent opening of a wind farm in the country's southwest.

The Dutch technology company said half of its facilities worldwide are now powered by green energy, as part of its goal to be carbon neutral in its operations by 2020 by employing only renewable electricity.

Philips said the wind farm is a result of its partnership with Alphabet Inc.'s Google (GOOGL) and Dutch companies Akzo Nobel (AKZA.AE) and DSM (DSM.AE). In 2016, the three companies formed a consortium to jointly negotiate power purchase agreements with wind projects in the Netherlands.

With consumers increasingly using sustainability as a criterion when making purchases, achieving carbon neutrality is both a moral obligation and a business opportunity, Royal Philips Chief Executive Frans van Houten said.

Write to Maitane Sardon at maitane.sardon@dowjones.com

(END) Dow Jones Newswires

May 16, 2019 04:57 ET (08:57 GMT)

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