Procter & Gamble has set itself a sales target for environmentally improved products, marking what senior executives describe as a major evolution in the corporate philosophy of the world’s largest consumer products company.

P&G’s new sustainability goals for the next five years include selling at least $20bn of products whose environmental impact is at least 10 per cent less than those of previously available products. It is believed to be the first time a consumer products company has set itself a financial target for developing and selling new “greener” items, rather than for waste or energy reduction.