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Philips Lighting buys traceable renewable electricity in the Gulf region

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Christopher Furlong | Getty Images

Philips Lighting is purchasing "traceable renewable electricity" from the Dubai Electricity and Water Authority's Mohammed bin Rashid Al Maktoum Solar Park.

In an announcement on Monday, the business said it would collaborate with ECOHZ to secure its renewable energy consumption using the International REC (I-REC) Standard.

ECOHZ offers businesses, organizations and electricity providers renewable energy solutions, while Philips Lighting described the I-REC Standard as a way of recording renewable energy usage "in regions where no similar documentation scheme exists."

The business added that it was the first "major international company to secure its renewable energy consumption in the Gulf region" using the I-REC Standard.

"To keep our planet on course with the Paris agreement to mitigate climate change, we must fully switch to renewable sources of electricity," Nicola Kimm, Philips Lighting's head of sustainability, environment, health and safety, said in a statement. "Partnering with ECOHZ enables us to keep to our part in this fiduciary duty," Kimm added.

Philips Lighting has set itself the goal of being carbon neutral by 2020. It is also a member of the RE100, an initiative made up of some of the planet's biggest businesses, all committed to renewable energy.

Sam Kimmins, head of the RE100, said it was "inspiring to see Philips Lighting working to source renewables in an oil dominated market. Together, RE100 members are creating change, and accelerating progress to a low carbon economy."

Philips Lighting is the latest business to push forward with efforts to boost its credentials on sustainability and renewable energy. UPS, for example, wants 25 percent of the electricity it consumes to come from renewable sources by 2025, up from just 0.2 percent in 2016.