HP targets net-zero value chain by 2040
HP has confirmed it will transform parts of its business from a transactional model to a services-based proposition, as part of a sweeping new climate strategy that will see the business's value chain reach net-zero by 2040 and embrace closed-loop materials.
The technology giant has unveiled a new long-term sustainability strategy, detailing ambitions to reach net-zero, utilise closed-loop materials while creating zero waste and enshrining and restoring carbon-sequestering natural habitats.
Under the new targets, HP will aim to achieve net-zero emissions across the value chain by 2040, with its supplies business reaching the goal by 2030. This will be spearheaded by a new carbon-reduction goal of reducing value chain greenhouse gas emissions by 50% by 2030 compared to 2019 levels.
The company will aim to have zero waste generated across its operations by 2025 and commits to 75% of its total annual product and packaging content (by weight) to come from recycled and renewable materials and reused products and parts by 2030.
HP notes that focusing on the circular economy will assist with the net-zero ambition. Indeed, recent calls from the Ellen MacArthur Foundation claim that focusing on decarbonising the energy sector alone will not put the world within touching distance of a net-zero carbon economy and that a circular economy is also vital to the net-zero transition.
The strategy commits HP Operations to be zero waste in its managed facilities by 2025 and HP's Customer Support arm to be carbon neutral across both HP and partner-run operations by 2030.
“Combating the climate crisis is an unprecedented challenge demanding action across the private and public sectors. We all have a shared stake in safeguarding our planet, and making a sustainable impact on the communities we serve must be a priority for all companies,” HP’s chief executive Enrique Lores said.
“At HP, we are united in our ambition to become the world’s most sustainable and just technology company. These new goals reflect our continued efforts to drive toward net-zero carbon emissions – not just within our own operations, but across our entire value chain. It’s not only the right thing to do, but also an increasingly important driver of innovation and growth that will strengthen our business well into the future.”
The strategy builds on strong progress from the manufacturer. HP was among the first 10% of companies to issue carbon reduction goals in line with the Science Based Targets Initiative. At the time, these were aligned to the 1.5C pathway of the Paris Agreement and committed the company to a 60% reduction in Scope 1 and 2 emissions by 2025. HP has now encompassed the entire value chain into its ambitions.
On the packaging front, HP has reused more than 875 million HP cartridges, 114 million apparel hangers, and 4.69 billion post-consumer plastic bottles in its products, as part of a closed-loop drive spanning 68 countries.
In 2019, HP pledged to invest $11m in forest restoration, protection and management schemes over a five-year period, as part of its overarching ambition to ensure that every page printed using an HP printer will be "forest positive".
HP has today confirmed it will scale up investment in this area, focusing on forest restoration and protection through a dedicated Forest Positive Framework. Additionally, HP has been confirmed new corporate partners to its Sustainable Forests Collaborative. Andhra Paper, Crown Van Gelder, Felix Schoeller Group, International Paper Company, Lenzing Papier, and Mondi Uncoated Fine Paper have all joined the collaborative group to focus on environmental stewardship.
Finally, HP has confirmed it will be the founding sponsor of the Forest Stewardship Council’s (FSC) “One Simple Action” digital marketplace. The marketplace has been set up to educate consumers on the role of the FSC and how their purchasing decisions can improve the stewardship of forests.