📋 Tender Overview
Reference: 20240145
Release date: 21 June 2024
Promoter – Financial Intermediary
ROYAL 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.
