Today at the World Economic Forum’s Sustainable Development Impact
Summit, HP Inc. (NYSE: HPQ) announced its next steps in creating a
forest positive future for printing with longstanding partner and
conservation leader World Wildlife Fund (WWF). Partnering with WWF,
HP is committing to the restoration, protection and conservation of
200,000 acres of forest, an area equal to the size of New York
City. As part of the 5-year agreement, HP will also support WWF’s
efforts in developing science-based targets for forests, estimating
carbon and nature co-benefits of forest restoration and improved
forest management. The new initiative, led by WWF, begins this
November. The two major forest restoration and management projects
mark the first within HP’s Sustainable Forests Cooperative.
By collaborating with WWF, the world’s leading printer company
is investing in the conservation of the world’s forests and taking
meaningful action towards its vision for sustainable printing. HP’s
Sustainable Forests Cooperative, which goes beyond sustainable
fiber sourcing programs, is designed to drive action now and
inspire others to preserve and improve forest ecosystems for future
generations. The company’s goal is that printing with HP will
directly increase responsible FSC-certified and recycled fiber
sourcing, while contributing to the restoration, protection and
improved management of the world’s forests for future
generations.
“HP has long envisioned a future bettered by technology and the
power it has to create a more sustainable future,” explains Tuan
Tran, president, global imaging and printing solutions. “That’s why
we’ve teamed up with World Wildlife Fund, FSC and others to create
a forest positive future for printing by restoring and protecting
the world’s forests for our industry, our customers and our
communities.”
A Forest Positive Future
Over the 5-year agreement, HP will contribute $11M for WWF to
restore part of Brazil's threatened Atlantic Forest and increase
sustainable management of state-owned farms and forest plantations
in China – ultimately protecting a combined area of 200,000
acres.
HP will also contribute toward WWF’s development of
science-based targets for forests. The partnership will provide
much needed guidance on the quantity and quality of forests needed
in key regions to restore and protect forest ecosystems and nature
co-benefits that provide for people, plants and animals. HP will
support the development of external tools to help companies
estimate the climate, water and biodiversity benefits associated
with various conservation efforts.
“The decline of forests around the world increasingly
destabilizes our climate and threatens the rich biodiversity that
sustains billions of lives and livelihoods,” explains Carter
Roberts, President and CEO of World Wildlife Fund. “To reverse the
global loss and degradation of forests, companies need to look
beyond their own supply chains and implement bold strategies to
protect and restore these critical ecosystems. HP’s new project has
the potential to deliver meaningful and lasting change and spur
other industry leaders to action.”
A Call to Action
With resource-rich forests being destroyed at the pace of 27
soccer fields per minute, HP believes the time for better business
models, greater collaboration and swift action is now. In response,
HP is working with the world’s largest paper manufacturers,
including International Paper whose tonnage of responsibly sourced
fiber is more than 7 million tons a year, equal to the weight of
50,000 blue whales – the largest animal on earth.
Furthermore, International Paper and WWF have collaborated on
ambitious goals for the sustainable sourcing of fiber, and the two
are establishing the first ever science-based targets for forest
conservation. HP will amplify the conservation efforts already
underway with WWF and International Paper. As a longtime FSC
stakeholder and certificate holder, International Paper is
committed to sustainable forest management, conservation and
restoration efforts both within its supply chain and outside the
company.
“We are thrilled that HP has decided to join us in our
ambition to advance conservation and restoration actions in forest
ecosystems beyond our existing fiber supply chains,” said Tom
Cleves, International Paper’s vice president of global citizenship.
“We applaud HP for holding all its suppliers accountable for
responsible sourcing and ensuring consumers know that the paper
they buy comes from renewable, sustainably managed forests.”
A Look Forward
Having achieved its zero deforestation goals with HP branded
paper, and in addition to the projects announced today, HP intends
to increase awareness about the importance of responsibly managed
forests, generating further demand for Forest Stewardship Council
(FSC)-certified and forest-friendly products.
“As the world’s most trusted forest certification, FSC-certified
responsibly managed forests are critical for biodiversity, clean
water and carbon storage, as well as for wood and fiber,” states
Corey Brinkema, president, Forest Stewardship Council US. “HP’s new
initiative represents the type of business leadership needed to
protect forests for current and future generations, and fight
climate change, even as we use forest products to meet our daily
needs.”
HP will also continue its efforts in reducing carbon emissions
and energy use, while increasing the use of recycled materials and
ocean-bound plastics in its products. The company is on track to
achieve zero deforestation goals for packaging by 2020 and has
committed to increasing the use of post-consumer recycled plastics
to 30 percent across HP’s personal systems and print product
portfolio by 2025.
About HPHP 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.
Forward-Looking StatementsThis document contains
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such statements involve risks, uncertainties and assumptions. If
such risks or uncertainties materialize or such assumptions prove
incorrect, the results of HP Inc. (“HP”) and its consolidated
subsidiaries could differ materially from those expressed or
implied by such forward-looking statements and assumptions. All
statements other than statements of historical fact are statements
that could be deemed forward-looking statements, including any
statements of the plans, strategies and objectives of management
for future operations, including, but not limited to, our
sustainability goals; any statements of expectation or belief; and
any statements of assumptions underlying any of the foregoing.
Risks, uncertainties and assumptions include the risks that are
described in HP’s SEC reports, including but not limited to the
risks described in HP’s Annual Report on Form 10-K for
its fiscal year ended October 31, 2018, HP’s Quarterly Reports
on Form 10-Q for the fiscal quarters ended
January 31, 2019, April 30, 2019 and July 31, 2019, and
HP’s other filings with the Securities and Exchange Commission. HP
assumes no obligation and does not intend to update these
forward-looking statements. HP’s Investor Relations website at
http://www.hp.com/investor/home contains a significant amount of
information about HP, including financial and other information for
investors. HP encourages investors to visit its website from time
to time, as information is updated, and new information is
posted.
Additional Resources:
- HP Sustainable Forests Cooperative Press Kit
- Sustainable Impact at HP
Media Contacts:Tom Suiter
tom.suiter@hp.comwww.hp.com/go/newsroom
HP Inc. Media
RelationsMediaRelations@hp.com
1 In the corporate sector, the term forest positive has been
discussed for several years. Forest Positive requires three actions
1) harnessing direct influence (responsible sourcing); 2) support
on-the-ground actions based on sustainability targets informed by
nature; and 3) work collaboratively with others to improve forests
and governance. WWF:
https://www.worldwildlife.org/blogs/sustainability-works/posts/creating-a-forest-positive-future
2 HP’s Sustainable Forests Cooperative goes beyond sustainable
fiber sourcing and replanting trees for printing, involving
industry and NGO partnerships and considers the entire ecosystem of
a forest. This includes the animals and communities that depend on
them to live and are directly impacted by forest degradation. HP’s
initiative is designed to drive action now and inspire others to
preserve and improve forest ecosystems for future generations.
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