HP report shows that sustainability can drive profitability

sustainability stock art

Companies need to be focused on both sustainability and profitability in order to succeed in their goals. HP (Palo Alto, CA) recently released its 2018 Sustainable Impact Report, which highlights a number of achievements in both of those areas. Proof of that is the fact that HP’s sustainable impact programs drove more than $900 million of new revenue, a 35% increase year-over-year, showing that sustainability can drive profitability.

The report also presented an “industry-leading goal” to increase recycled plastics across its print and personal system portfolio to 30% by 2025. HP’s goal builds on the company’s long legacy of leadership in this area. In 2018, HP used 21,250 tons of recycled plastic in HP products, including more than 8,000 tons in its personal systems products (a 3.5% increase from 2017); more than 4,700 tons in its printing products (a 280% increase from 2017); and more than 8,000 tons in original HP ink and toner cartridges, the company reported.

“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. “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 waterways and oceans. HP noted that the company has already sourced approximately 700,000 pounds of ocean-bound plastic materials—the equivalent of more than 25 million bottles—upcycling this material into HP cartridges and hardware. This year, HP launched the EliteDisplay E274d, the world’s first display manufactured with ocean plastic. It contains 5% ocean-bound plastic resin, which is equivalent to more than three 16-oz. recycled plastic water bottles in each display. Together with its partners, including NextWave Plastics, HP is committed to scaling the use of ocean plastics by developing the first global network of ocean-bound plastic supply chains.

“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 and CEO. “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,” said Weisler.

Image: Robert Kneschke/Adobe Stock

Comments (0)

Please log in or to post comments.
  • Oldest First
  • Newest First
Loading Comments...