After conducting a baseline assessment of Champalimaud's current CO2 emissions, Philips will work with the organization to update and renew its diagnostic imaging technology capabilities.

The transformation will be accomplished by equipment upgrades and lifetime extensions, process digitalization, circular financing strategies, and renewable electricity sourcing, according to the companies.

Global healthcare systems account for 4.4% of global CO2 emissions, more than aviation or the shipping industry, Philips and Champalimaud noted.