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Letter from HP’s President and CEO Enrique Lores

“We are united by our ambition to create technology that inspires human progress.”

“At this moment in history, and from this point forward, companies will be judged by more than the profits they generate. They will be measured by the value they create for society.” Enrique Lores, President and CEO of HP.

TWENTY YEARS AGO, we released our first environmental and social impact report. We did so because HP was built on the idea that the purpose of a corporation extends far beyond profit. From our earliest days, we have believed that, by creating technology in the service of humanity, we can create the conditions for business and society to thrive hand in hand. With each passing year, we have deepened our commitment to this belief.

As a result, we’re a stronger company that is making a more sustainable impact on the world. But our work is far from finished. As we look to the next10 years, it’s clear we’re entering one of the most consequential decades in modern business history. A global pandemic continues to cause hardship and heartache around the globe. A changing climate is devastating many communities and threatening the very future of the planet we all share. And we are facing a long-overdue reckoning with the deep inequities and inequalities that prevent far too many people from reaching their full potential. While these are stark challenges that won’t be overcome quickly, we must view them as catalysts for change.

Because if we can summon the courage and resolve needed to act in the face of seemingly insurmountable obstacles, I know that we can—and will—take ambitious leaps forward. At HP, our ambition is to become the world’s most sustainable and just technology company. I’m proud of the work of our teams around the world, and this report highlights the progress we are making against our goals— as well as the areas where we must do more. But if we simply stay the course, we will fail to meet the magnitude of this moment. The pace of change in the world around us is accelerating, and so must our efforts to create the future we want to see.

Our new 2030 Sustainable Impact agenda is designed to propel us forward. It stays true to HP’s values, supports the United Nations Sustainable Development Goals, and LET TER FROM OUR PRESIDENT AND CEO “We are united by our ambition to create technology that inspires human progress.” prioritizes efforts where our technology, talent, and ecosystem can have the greatest impact. Over the next decade, HP will stand for a new era of progress – where climate change is reversed, human rights are universally protected, and digital equity democratizes opportunity for all. Climate Action We will drive toward a net zero carbon, fully regenerative economy while engineering the industry’s most sustainable portfolio of products and solutions. We plan to achieve net zero greenhouse gas emissions across the HP value chain by 2040, with a 50% reduction by the end of this decade. We pledge to reach 75% circularity for products and packaging by 2030. And we are committed to maintaining zero deforestation for HP paper and paper-based packaging and counteracting deforestation for nonHP paper used in our products and print services.”

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