Signify (formerly known as Philips Lighting) is a global provider of products and services related to light. Examples of products are light bulbs (both conventional and led-based), fixtures, components, internet connected light systems and services (e.g. providing advise about the use of light, but also as-a-service business models). Signifiy serves both the consumer and professional market. It derives approximately a third of its revenues from the Americas, a third from Europe and the remainder from the rest of the world. The light sector is currently undergoing a transition from conventional light to LED. Signify is based in Eindhoven, was founded as Philips back in 1891 and became independent from Philips in 2016.
Electricity consumption contributes to carbon emissions, as power is still mainly generated by burning coal and natural gas. As long as renewable energy makes only a small contribution to total power generation, we need technologies that reduce electricity consumption in order to limit carbon emissions. Signify derives 80% of its revenue from selling LED-based lighting products. When compared to the traditional lighting sources these LED-based products replace, the energy savings are substantial. For example, between 2015 and 2020 the company has delivered close to 3 billion LED lamps and luminaires. The energy savings achieved from replacing traditional lighting sources are equivalent to the energy generated by 45 medium-sized coal-fired power stations. The CO2 reductions achieved are equal to the annual emissions produced by 18 million cars. Thus the company's products are clearly contributing to energy efficiency and the reduction of carbon emissions. Apart from this, the company is actively reducing its environmental footprint. In 2020, waste to landfill decreased to zero, the use of renewable electricity increased to 100% and its net carbon footprint was reduced to zero.