HP Reveals Bold New Commitments for Driving a Circular and Low-Carbon Economy
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 “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 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 Creating vibrant communities everywhere 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. RELATED LINKS
About HP 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. Media contact 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. |
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