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Sustainable Impact programs drove more than $900 million of new revenue, a 35 percent increase year-over-year
HP releases 2018 Sustainable Impact Report affirming commitment to People, Planet and Community. News highlights:
PALO ALTO, Calif., June 19, 2019 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today released its 2018 Sustainable Impact Report, including an industry-leading goal to increase recycled content plastics across its print and personal systems portfolio to 30% by 2025, continuing the company’s long legacy of leadership in this area. The report documents the progress HP is making and the business benefits of investing in the planet, people and communities. Sustainable Impact programs drove more than $972 million dollars of new revenue for HP in 2018, a 35% year-over-year increase.
“Companies have critically important roles to play in solving societal challenges, and we continue to reinvent HP to meet the needs of our changing world,” said Dion Weisler, President & Chief Executive Officer, HP Inc. “This isn’t a 'nice to do,' it’s a business imperative. Brands that lead with purpose and stand for more than the products they sell will create the most value for customers, shareholders and society as a whole. Together with our partners, we will build on our progress and find innovative new ways to turn the challenges of today into the opportunities of tomorrow.”
Tackling global plastic waste
HP’s new recycled content plastics goal builds on the company’s long legacy of leadership in this area. In 2018, HP used 21,250 tonnes of recycled plastic in HP products – including more than 8,000 tonnes in its Personal Systems products (a 3.5% increase from 2017), more than 4,700 tonnes in its printing products (a 280% increase from 2017) and more than 8,000 tonnes in Original HP ink and toner cartridges.
“Progress requires us to rethink every aspect of our business to find new ways to make life better for everyone, everywhere," said Nate Hurst, Chief Sustainable Impact Officer, HP. “We are making durable, premium products using recycled plastic as part of our efforts to transform our business to drive a more efficient, circular and low carbon economy. Even small advancements, scaled globally, can have a huge impact.”
As part of this commitment, HP continues to invest in and scale its impact sourcing initiative to prevent post-consumer plastic from entering our waterways and oceans. HP has already sourced approximately 700,000 pounds of ocean-bound plastic materials—or more than 25 million bottles—upcycling this material into HP cartridges and hardware. This year, HP launched the EliteDisplay E273d – the world’s first display manufactured with ocean plastic.2 Together with its partners, including NextWave Plastics, HP is committed to scaling the use of ocean-bound plastics by developing the first global network of ocean-bound plastics supply chains.
In partnership with Dr. Jenna Jambeck and Dr. Chris Cuomo from the University of Georgia, HP is sponsoring groundbreaking research on women’s crucial work in recycling and managing waste, specifically ocean-bound plastics. By focusing on the experiences of women working on the frontlines of plastic recycling, this research will serve as a basis for future projects and commitments involving informal waste collection, the development of ocean-bound plastic supply chains, and greater gender equality worldwide. This research is underway now and is scheduled to be released by early 2020.
Enabling customers to do more, with less impact
Recently, HP announced a sustainable publishing partnership with ELLE Magazine using its print on demand capabilities to deliver the industry’s first sustainable fashion magazine made from 100% recycled materials for the cover and 30% recycled materials for the pages within the magazine.
HP also announced an innovative partnership with SmileDirectClub , the pioneer of teledentistry and market leader in doctor-directed, remote clear aligner therapy. SmileDirectClub is powering its digital differentiation and rapid manufacturing expansion of clear aligners with HP’s Jet Fusion 3D printing solutions, making it the largest producer of Multi Jet Fusion 3D printed parts in the United States. As part of an expanded collaboration, HP and SmileDirectClub also announced a new recycling program, in which excess 3D material and already processed plastic mouth molds are recycled by HP and turned into pellets for traditional injection molding, leading to more sustainable production.
Reinventing the standard for diversity and inclusion
HP’s commitment to diversity and inclusion starts at the top, with the industry’s most diverse Board of Directors of any U.S. technology company. HP works to grow its pipeline for diverse talent, and in 2018, 59% of new hires were from typically underrepresented groups. HP extends this commitment to how it works with suppliers. In 2018, HP spent $423 million with small businesses3 and $219 million with minority- and women-owned businesses.45
Creating vibrant communities everywhere
Education is a fundamental human right, and HP believes that technology can be the great equalizer – helping to bridge the gap and reach typically underrepresented and otherwise marginalized communities. Through 2017, HP has reach more than 21 million students and adult learners, driving progress toward our goal to enable better learning outcomes for 100 million people by 2025. Through HP volunteer efforts, corporate giving and HP Foundation programs, HP aims to catalyze positive change in the communities where we live, work, and do business. Compared to 2017, HP employee volunteer hours increased by 62% – 6,400 employees contributed about 140,000 hours to local volunteer efforts in 48 countries, with a value of $4.3 million.6 In addition, HP contributed $23.21 million to local communities from HP Foundation and employee contributions. Between 2016-2025, HP commits to contributing $100 million in HP Foundation and employee community giving.7
The Sustainable Impact Report will be unveiled today at the MIT Solveathon at HP’s headquarters in Palo Alto. Facilitated by the MIT Solve staff and supported by innovators, researchers and creative thinkers from HP, this event focuses on generating fresh ideas and refining solutions from the Bay Area community in response to Solve’s circular economy challenge.
To learn more, visit the HP Sustainable Impact website, and review the newly released HP 2018 Sustainable Impact Report.
HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of personal systems, printers, and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.
1 Recycled content plastic (RCP) as a percentage of total plastic used in all HP personal systems and printer hardware and print cartridges shipped during the reporting year. Total volume excludes brand-licensed products and after-market hardware accessories. Total RCP includes postconsumer recycled plastic, closed-loop plastic, and ocean-bound plastic used in HP products. Personal systems plastic is defined by EPEAT® eco-label criteria. Subject to relevant restrictions on the use and distribution of materials destined for recycling and/or recycled feedstocks.
2 Contains 5% ocean bound plastic resin which is equivalent to more than three 16 oz. recycled plastic water bottles in each display.
3 Data is for the 12 months ending September 30 of the year noted. Figures for 2016 are for purchases in the United States, Puerto Rico, Canada, Europe, and Asia, from U.S.-based businesses, and include one month of spending from before the separation of Hewlett-Packard Company on November 1, 2015. Figures for 2017 and 2018 are for purchases in the United States and Puerto Rico from U.S.-based businesses.
4 Suppliers are categorized as minority-owned or women-owned, not both. These categories include all sizes of businesses.
5 Data is for the 12 months ending September 30 of the year noted. Figures for 2016 are for purchases in the United States, Puerto Rico, Canada, Europe, and Asia, from U.S.-based businesses, and include one month of spending from before the separation of Hewlett-Packard Company on November 1, 2015. Figures for 2017 and 2018 are for purchases in the United States and Puerto Rico from U.S.-based businesses.
6 Hourly rate based on type of volunteering: $150/hour for board, service corp, pro bono, and skills based; $24.69/hour for hands-on and undetermined, adjusted using World Bank data for purchasing power differences across countries.
7 Includes valuation of employee volunteer hours, employee donations, HP Foundation match, and HP Foundation grants.