HP’s latest sustainability report outlines revamped science-based targets, a 35% year-on-year growth in revenue through sustainable impact and commitments to source more recycled plastic content and 100% renewables
American multinational information technology company, HP announced a plethora of new goals in the 2018 report. It has set a target to ensure its global operations are powered with 100% renewable electricity by 2035. HP had already aimed to go 100% renewables previously when it joined the RE100 campaign, convened by The Climate Group in partnership with CDP, however it hadn’t set a timeframe.
“At HP, we aspire to create a world without waste. From our supply chain, to our operations, to our technology and service offerings, we are transforming our entire business for a circular, low-carbon economy. We are reinventing how we design, deliver and recover our products to enable our customers to drive growth while shrinking their carbon footprint.” said Dion Weisler, President and Chief Executive Officer, HP Inc.
The company is already powering its operations in the US with 100% renewable electricity.
- 589,217 MWh of electricity used in global operations, including 47% renewable electricity use–41% decrease in Scope 1 and 2 GHG emissions, since 2015
- Approximately 1 million tonnes of materials in our products and packaging–5% increase in materials use intensity for personal systems products compared to 2017, and 14% decrease versus 2016
- 21,250 tonnes of recycled plastic used in HP products–12% reduction in materials use intensity for printers compared to 2017, and 16% decrease versus 2016
According to HP’s 2018 sustainability report, “Sustainable Impact” programs drove more than $977m of new revenue last year, representing a 35% increase on 2017 levels. In 2017, the company delivered a 38% year-on-year growth where the sustainable impact was a key differentiator, generating more than $700m in new business revenue.
The figures, which are supported by HP’s Sustainability and Compliance organization, showcase the growing value of corporate sustainability. HP joins the likes of Unilever and Ikea which have also chalked out similar plans for sustainability.
Last year, HP used 21,250 tonnes of recycled plastic in its products, a 3.5% increase from 2017, more than 4,700 tonnes in its printing products, a 28% rise, as well as more than 8,000 tonnes in Original HP ink and toner cartridges. Its new goals also aim to increase the use of recycled plastic in its personal systems and print hardware and supplies to 30% by 2025.