Leading with Purpose and Action in the Climate Decade

by Nate Hurst, Chief Sustainability and Social Impact Officer at HP

Climate change is the defining issue of our time. For many, awareness of this crisis is increasingly acute and personal—damaged homes, lost businesses, and dramatic changes to the natural environments that we know and love. People are rightfully demanding solutions, and quickly.

The role of business in creating a climate positive world is critical. The solutions that exist have the potential to be unlocked and scaled by business leaders willing and eager to do things differently.

This week, as global leaders gather for the World Economic Forum in Davos, Switzerland, Bloomberg Media launched Bloomberg Green, a new data-rich, solutions-driven news channel in the Bloomberg News portfolio focused on the business, science, and technology of climate change. I’m proud to share that HP is a founding partner of Bloomberg Green, together with Amazon, JLL, PGIM, and Tiffany & Company. I encourage you to visit and add Bloomberg Green to your favorite newsfeed. While there, check out this story on why investing in climate change is good for business.

At HP, we have long invested in innovating to mitigate the effects of climate change and drive the transition to a circular, low-carbon economy—for the sake of our planet, the health, well-being and prosperity of people and global communities, and the resilience of our business and that of our customers and partners.  

As I’ve written about previously, we have established science-based targets to reduce GHG emissions across our value chain, and were among the first companies to have its operations emissions goal approved by the Science Based Targets Initiative as consistent with levels required to keep warming to 1.5°C. We were one of the earliest companies to join The Climate Group’s RE100, and have set a goal to achieve 100% renewable electricity usage in our global operations by 2035. We design energy-efficient products—in fact, since 2010, the energy consumption of our personal systems has dropped by 44% on average. And we are transforming whole industries by digitizing industrial printing and manufacturing through technologies liked HP Indigo and HP Jet Fusion, which dramatically reduce emissions and waste.

Our efforts have been recognized through investor-focused rankings including CDP, widely recognized as the gold standard of corporate environmental transparency. Just this week—and for the sixth consecutive year—CDP named HP to its Climate Change “A” List for our actions to cut emissions, mitigate climate risks, and develop the low-carbon economy.  

Also this week, Corporate Knights released its 16th annual ranking of the world’s 100 most sustainable corporations, assessing 7,395 companies with more than US$1 billion in revenues, and HP was honored to make this ranking for the fifth consecutive year.

Yet for all our pride in the progress and accolades, we know we have much more to do. Investments and solutions must be scaled much faster and further to address the climate challenge facing us and all future generations. We must move beyond sustainability to a regenerative economy, that actively strengthens our natural systems for all. This requires true collaboration within and across industries, and between businesses, governments, nongovernmental organizations, academics and others, to achieve the scale necessary.  

Our investments and partnership with WWF to protect and restore 200,000 acres of forest in Brazil and China is a first step at creating a forest positive future for all. Working in Haiti with the First Mile Coalition, we’ve collected and recycled 1 million pounds of ocean-bound plastic into new HP products, helping to reduce our reliance on virgin plastics (and the fossil fuels that produce them) and protect the health of the world’s oceans. Joining forces with NextWave Plastics and the Ocean Plastics Leadership Network, we’re working to share our learnings, gain insights from others, and collaborate on immediate and lasting solutions to the climate crisis. 

The world’s most trusted brands stand for more than the products and services they sell. They are built on strong values and they win the hearts and minds of customers by leading with purpose. We believe companies like HP have a responsibility to take immediate action and address today’s global challenges. And we are committed to doing so at the highest level of our company. As our President and CEO Enrique Lores said, “Delivering a sustainable impact—on our planet, people and communities—has never been more important, and companies like ours must be beacons of progress.”

We—along with the entire business community—can change the course for the future of our planet. The time for action is now. Please share, in the comments below, what immediate and scalable climate actions your company is taking.