In 2023, HP Inc. solidified its position as one of the leaders in corporate sustainability and responsibility, as detailed in its latest Sustainable Impact Report. This document, a testament to HP's long-time commitment to making a positive societal impact, outlines the company's multifaceted approach to tackling some of the most pressing global challenges. From ambitious climate action goals to advancing human rights and fostering digital equity, HP demonstrates a deep integration of sustainability into its business model.
A Climate-Conscious Future
HP's approach to climate action is both ambitious and comprehensive. The company has set its sights on achieving net-zero greenhouse gas (GHG) emissions across its value chain by 2040, with interim goals that include significant reductions in Scope 1, 2, and 3 emissions. HP's strategy is underpinned by its transition to circular solutions, optimizing energy efficiency, and sourcing 100% renewable electricity for its global operations. Notably, HP has made strides in product design, incorporating recycled materials and ensuring products are more energy-efficient and easier to repair and recycle.
The longevity of HP’s effort is rooted in the philosophy its CEO Enrique Lores has embedded in the business: “We are rethinking old ways of doing things and reimagining what is possible, while remaining anchored to our values. At HP, we are doing this not simply because it’s the right thing to do, but also because it helps us grow,” he wrote at the start of the report.
HP is creating transformative and disruptive technologies across its portfolio, focusing on enhancing the environmental performance of its products and services. In 2023, HP spent US$1.58 billion on ongoing product development, prioritizing the use of recycled and renewable materials, responsible chemistry, product repairability, reusability, longevity, recyclability, energy efficiency, accessibility features, and healthcare solutions. Key highlights include HP Toner Cartridges with TerraJet technology, which are smaller, use recycled content, reduce energy consumption, increase print speeds, and produce vibrant colors and images; HP's 3D Arize Orthotic Solution, which allows podiatrists and orthotists to create personalized orthoses for patients in less than five minutes; the HP EliteBook 1040 G10, which uses recycled materials in its components, is energy-efficient, and comes in sustainable packaging; new HP DeskJet printer series incorporating at least 60% post-consumer recycled content plastic; HP DesignJet T850 and T950 series printers and plotters containing recycled content plastic, featuring an Energy Scheduler to reduce energy use, and using HP Flex Tech Inks that meet UL ECOLOGO® Certification; the HP D100 Single Cell Dispenser, which accelerates scientific research by isolating and analyzing individual cell responses to drugs and other factors; and HP Indigo's LEPx printing technology, which delivers digital print quality at analog print speeds, reducing the carbon footprint of multiple color jobs and saving substantial amounts of media by eliminating flexo printing waste.
HP applies design principles that improve the environmental performance of its products across their life cycles, with 80% of a product's impact determined at the design phase. The company's Design for Circularity program, formerly known as Design for the Environment, considers sustainability factors throughout the product design and development phases. HP collaborates with organizations like the Ellen MacArthur Foundation Circular Economy 100 and the Circular Electronics Partnership to accelerate the development of circular systems and address barriers to the industry's transition to a circular economy. The company's main design priorities include increasing the use of recycled and renewable materials, practicing responsible chemistry, enhancing product repairability, reusability, longevity, and recyclability, improving product energy efficiency, and building in accessibility features. HP also develops services that enable reduced environmental impact, such as managed services, innovations that lengthen product life, and facilitate take-back, as well as repair, refurbishment, and recycling services to keep materials in use for longer.
Championing Human Rights
HP has a strong commitment to respecting human rights and continuously monitors emerging expectations and best practices in this area. The company believes in creating a culture of empowerment and equality within HP and beyond, advocating for universal rights, and striving for policies that fight racism and advance social justice.
HP's human rights policies and practices are designed to help identify and address potential and actual human rights issues across its value chain, including its own operations, non- suppliers, and production suppliers. Through its supply chain responsibility program, HP works to ensure an agile, resilient, and future-ready supply chain by focusing on improving labor conditions within supplier factories and tackling industry-wide challenges such as forced labor and responsible minerals sourcing. The company also invests in capability-building programs for suppliers and workers to build management skills and empower workers.
HP values its employees and provides innovative training and development opportunities to build their skills and advance their careers. The company's wellness program supports the broad needs of its employees, and HP strives to keep them safe and healthy. HP embraces policies that support diversity in the workplace and career development for underrepresented groups and is committed to a culture that is actively antiracist. In 2023, HP accelerated this work through the HP Racial Equality and Social Justice Task Force.
Bridging the Digital Divide
Digital equity remains a core pillar of HP's sustainable impact strategy. The company has pledged to accelerate digital equity for 150 million people by 2030, focusing on providing access to technology, connectivity, and digital literacy programs. HP's initiatives target underserved communities, emphasizing education, healthcare, and support for small businesses. Through partnerships and innovative solutions, HP is working to dismantle the barriers to digital inclusion.
HP created the Digital Equity Accelerator in 2022 to help bridge the growing socioeconomic divides caused by the digital divide. The six-month intensive initiative assists nonprofits embedded in digitally marginalized communities to scale up their efforts through hands-on training, mentoring, technical consultations, and increased visibility opportunities.
In 2023, a cohort of 10 nonprofit organizations from Malaysia, South Africa, and Mexico participated in the program. A total of 105 individuals attended 28 curriculum sessions, 209 mentoring and technical expert consultations, and approximately 30 hours of preparation for the Accelerating Digital Equity Global Summit's Pitch Fest. The cohort reported increased access to funding due to their participation, enabling initiatives such as better guidance for individual asylum seekers in the United States.
Over its first two years, the Accelerator has helped organizations reach an additional 8.1 million people from priority groups, with 6.4 million more individuals reached across six countries through 17 nonprofits who participated in 2023. This expanded reach is driving forward access to technology and digital skills.
HP is confident about the impact and potential of the Accelerator model to accelerate digital equity for millions of people around the world, contributing significantly to the company's ambitious goals in this area.
Corporate Integrity and Transparency
Integrity is at the heart of HP's operations, guiding its interactions with employees, partners, and customers. The company's comprehensive anti-corruption policies, privacy commitments, and cybersecurity measures reflect its dedication to ethical conduct. HP's transparent reporting, including detailed sustainability metrics and third-party reviews, underscores its accountability and commitment to continuous improvement.
Looking Ahead
As HP looks to the future, it remains steadfast in its commitment to driving sustainable impact. The company's holistic approach, spanning environmental stewardship, social responsibility, and ethical governance, sets a benchmark for corporate sustainability. Through innovation, collaboration, and leadership, HP continues to demonstrate that business success and positive societal impact can go hand in hand.
HP's 2023 Sustainable Impact Report not only highlights the company's achievements to date but also charts a path forward for sustainable growth. As HP continues to innovate and advocate for a more sustainable and equitable world, its actions inspire others in the industry to follow suit, proving that together, a more sustainable future is within reach.