HP increases $11m forests pledge to $80m, in bid to restore one million acres
HP Inc. has extended its partnership pledge with WWF, focused on forest restoration, from $11m over a five-year period to $80m over a decade, thereby creating the largest partnership between a US-based corporation and the NGO to date.
HP originally announced the WWF partnership in November 2019, as part of its overarching ambition to ensure that every page printed using an HP printer will be “forest positive” by 2030. At the time, it committed $11m through to November 2024, to be spent on forest restoration schemes in Brazil and China, collectively covering 200,000 acres. More than 104 community partners have been engaged across the two nations under the scheme to date.
Today (26 October), HP has confirmed that the commitment with WWF will be extended to at least November 2029 and that it will spend $80m on the partnership within that timeframe. This will support schemes that cover at least one million acres.
As well as helping to deliver forest restoration and conservation schemes, the funding will support WWF’s efforts to develop science-based targets for forestry and nature, building on its work in co-developing science-based targets for emissions reductions from business operations and value chains. HP has agreed to pilot such targets ahead of their broader launch, which is expected in the coming months.
“To truly solve the dual climate and nature crises, we need companies to go even further than their immediate supply chains,” WWF’s president and chief executive Carter Roberts said.
“Solving these problems means taking responsibility for emissions and environmental impacts from the entire lifecycle of a company’s products. By pledging to address forest resources used for paper outside its supply chain, HP is accelerating ambition for corporate climate and nature commitments. And by helping us pioneer the development of science-based targets for forests, HP is building a roadmap for others to follow.”
While WWF and HP have only been working on forest restoration for two years, a partnership on sustainable sourcing has been running for more than a decade now. HP reached zero deforestation for 99% of its branded paper and paper-based product packaging in 2020. The company notes that the remaining 1% meets its Sustainable Paper and Wood Policy.
As part of its partnership expansion, HP has joined WWF’s ‘Forests Forward’ scheme, which is designed to better enable multi-stakeholder communication and engagement in the delivery of forest projects.
Under ‘Forests Forward’, WWF convenes the multiple businesses who may source from a particular region, or finance nature schemes in a particular region, with community groups, local NGOs, local governments and other organisations. The Global Forest & Trade Network (GFTN) and New Generation Plantations Platform (NGP) support WWF in facilitating these engagements. A key aim of ‘Forests Forward’ is to ensure that all stakeholders understand and protect the true value of forests, delivering conservation and restoration in a manner that also produces social benefits.
WWF has, in return, joined HP’s Sustainable Forest Collaborative, a cross-industry collaboration researching and implementing processes that should improve the ecosystem health of forests that are actively used by industry. Other members of the initiative include Andhra Paper, Crown Van Gelder, Felix Schoeller Group, International Paper Company, Lenzing Papier and Mondi Uncoated Fine Paper.
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