HP, Inc. 2020 HP Inc. Sustainable Impact Webcast June 25, 2020
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HP, Inc.
2020 HP Inc. Sustainable Impact Webcast
June 25, 2020HP, Inc. – 2020 HP, Inc. Sustainable Impact Webcast, June 25, 2020
CORPORATE PARTICIPANTS
Tesh Dahya, Director of Investor Relations
Judy Glazer, Head of Sustainability and Product Compliance
PRESENTATION
Tesh Dahya
Good morning. I'm Tesh Dahya, Director of Investor Relations at HP and I'd like to welcome you to HP's
Sustainable Impact Investor Webcast. With me today is Judy Glazer, HP's Head of Sustainability and
Product Compliance.
Before handing the call over to Judy, let me remind you that this call is being webcast. A replay of the
webcast will be made available on the website shortly after the call for approximately one year. As
always, elements of this presentation are forward-looking and are based on the best view of the world of
our businesses as we see them today.
For more detailed information, please see disclaimers in the sustainable impact materials related to
forward-looking statements that involve risks, uncertainties, and assumptions, including the potential
impacts of the COVID-19 pandemic. For discussion of some of these risks, uncertainties and
assumptions, please refer to HP's SEC reports, including our most recent Form 10-K and Form 10-Q. HP
assumes no obligation and does not intend to update any such forward-looking statements.
Now, turning to today's events, Judy Glazer's team is accountable for HP’s sustainable impact strategy,
driving policies, goals and groundbreaking initiatives and programs to ensure HP’s products are safe,
legally compliant, responsibly manufactured and sustainable. Today, Judy will be providing an overview
of HP’s sustainable impact strategy, including some of the results published in HP’s Annual Sustainable
Impact report which was released yesterday, as well as HP’s Inaugural Human Rights Progress Report.
Following Judy’s presentation, there will be time for a brief Q&A.
With that, let me hand it over to Judy.
Judy Glazer
Thank you, Tesh.
I’m pleased to be with you today to review our strategy and progress across the three interrelated pillars
of people, planet and community. I hope that you walk away from this presentation with a better
understanding of how and why HP is a leader in sustainability, and how we manage critical risks and
opportunities through our sustainable impact strategy.
As Tesh mentioned, yesterday we launched our 18th Sustainable Impact Report, covering key
environmental and social topics. It's available on hp.com on our Sustainable Impact page and on the
Investor Relations page. This report is launched during a time of great focus on social and environmental
topics. When we started the process of developing this report, the climate strikes were in full swing
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around the world. There were calls not only from activists, but also from financial institutions demanding
that the private sector step-up and lead with purpose and action.
Early this year, as COVID-19 led to nationwide shutdowns, we reacted quickly to protect the health of our
employees and to ensure the continuity for our customers. You will hear a little later about how we are
also deploying our technology and resources to address the needs of our global communities. And today,
there are global protests and much needed discussion in the wake of the senseless deaths of George
Floyd and Breonna Taylor. This moment is demanding that all of us, individuals, policymakers,
organizations of every size, not only have conversation on the impact of racial discrimination and social
justice, but we take action.
In short, environmental and social issues have been some of the biggest news stories of the last year,
and not only stories, we've seen radical change to our economies, to our institutions and to our lives. As
these challenges presented themselves, you have seen the companies who have built up this muscle, be
able to offer solutions and lead with authenticity. We are seeing even more clearly that our sustainable
impact strategy is not only a reputation driver, but it plays a critical role in our ability to swiftly and
adequately meet the changing expectations of our stakeholders head on.
Indeed, there has never been a more important time to be clear on our values. Our sustainable impact
strategy guides us to create positive lasting change across three key pillars; people, planet and
community. While these pillars are presented as distinct, it's really important to understand how they are
interrelated. For example, environmental challenges tend to hit poor and otherwise marginalized
communities hardest. HP's leadership is not only talking, but they are taking action. In the report this year,
we made it clear that all members of the executive leadership team oversee sustainable impact targets
relevant to their organization and are evaluated annually against objectives related to sustainable impact
including diversity and inclusion.
Performance against these and other business objectives is tied to total compensation. This kind of buy-in
and accountability at the very top of the organization demonstrates how central sustainable impact is to
every aspect of our business. It's not just the right thing to do from a values perspective; it creates real
value. In FY ‘19, we tracked $1.6 billion in new sales wins that were, in some way, influenced by
sustainable impact. In one case, we were able to support a $250 million personal systems-driven deal
with a global oil and gas company. We were able to show the Company how partnering with HP on their
IT means could help them to meet their corporate level sustainability goals.
In another example, we supported a $300 million multi-year deal with a government agency because of
our leadership in EPEAT and Energy Star product registrations and our focus on accessibility. Both
important aspects that helped us to qualify to take part in the bid process, which HP eventually won.
As a result of our commitment and programs, we have also been recognized by many third-party ratings
and rankings and industry bodies, as you see on the slide. We came the number one spot on
Newsweek's 2020 list of America's Most Responsible Companies. We have been included in the Dow
Jones Sustainability World Index for the eighth year in a row. We were one of only eight companies to
receive a AAA rating from CDP for our work across climate change, forest and water security and we
were one of only 132 companies around the world to be named one of the World's Most Ethical
Companies.
We publish our Sustainable Impact Report each year in June offering comprehensive transparent
validated data across our far-reaching strategy. We align our report with key reporting standards including
GRI, and for the first time this year SASB, and take into consideration the needs and priorities of key
raters and rankers including MSCI and Sustainalytics. The report also contains details on the actions
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we've taken toward aligning with the recommendations of the taskforce on climate related financial
disclosures.
The report also contains our updated ESG materiality analysis which helps us to identify those ESG
topics that have been—had both the greatest impact on our business and on sustainable development.
This analysis while still fairly qualitative gives us important perspective and helps us prioritize where we
invest resources to drive impact.
This year we focused on further incorporating the perspectives of investors, customers and our own
business leaders. These insights in turn inform our reporting and our strategy. We won't be able to cover
the wealth of information that's included in the report during today's presentation, so I encourage you to
take a look in more depth.
I also want to point out that we have a standalone document that brings together our goals and data. We
have goals across our value chain to help us drive impact in areas that are most material to our business.
We'll start our review with the people pillar. At the core of our commitment to people, our values of
diversity and inclusion, protecting core human rights and working to ensure that the people who helped to
make and bring our products to market are protected and empowered.
As part of our efforts to be more transparent, this year we published our first ever inaugural Human Rights
Progress Report, a standalone document covering our approach and commitment to protecting critical
human rights. We know that human rights are an area of increased investor interest and we can expect
that interest to grow even more given the current conversations we are having around racism and
discrimination. The scope of our human rights program is broad, including our supply chain, diversity and
inclusion, access to education, privacy and product safety. Our program is managed at the highest levels,
including through the Board's nominating Governance and Social Responsibility Committee as well as
several executives.
Our human rights council coordinates the due diligence and mitigation of human rights risks and aligns
initiatives across organizations and functions. HP has been recognized as a leader in the electronics
industry, as demonstrated in independent rankings including the Corporate Human Rights Benchmark
which ranks corporate human rights performance. We ranked third among the 40 information and
communications technology companies assessed, KnowTheChain which ranks company due diligence in
addressing forced labor in the supply chain and the World's Most Ethical Companies.
Our approach to human rights has strong roots in our approach to supply chain responsibility. We protect
the rights of workers through auditing, assessment and enforcement of our supplier code of conduct,
human rights policy and our foreign migrant worker standard among others, and we do capability building
with our suppliers and their staff. Suppliers representing 95% of HP’s total production spend has gone
through a social and environmental assessment.
Today with our supplier partners, we aim to empower supply chain workers. Two hundred sixty-six
thousand four hundred supplier factory workers have participated in skills and well-being programs since
the beginning of 2015. So, we are halfway to our goal of developing skills and improving well-being of
500,000 factory workers by 2025 since the beginning of 2015.
We also collaborate across the industry to drive change essential since much of our supply chain is
shared. HP was a co-founder of the Responsible Business Alliance the world's largest industry coalition
dedicated to corporate social responsibility and global supply chains. We were members of the pioneering
Business Leaders Initiative on Human Rights and are on the steering committee of the Leadership Group
for Responsible Recruitment.
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Core to our sustainable impact strategy is imbedding diversity and inclusion in everything we do from how
we recruit and retain employees, to how we engage with suppliers and partners, to how we invest in
programs in our communities. This commitment starts at the top with the U.S. technology industry's most
diverse Board of Directors, and it is carried through our employee base including how we hire. Thirty one
percent of director level and above employees are women, 22% of our staff in IT and engineering are
women and women make up 55% of key functions including legal, finance and marketing.
In FY ’19, 40% of global new hires were women, 40% of U.S. new hires were from minority groups and
63.3% of U.S. new hires were from under-represented groups including women, U.S. ethnicities, veterans
and persons with disability compared to 57.2% in 2018. But, the truth is throughout our employee base,
racial representation is not where we want it to be which is one reason, we have made a commitment to
double the number of black and African-American HP Executives in the U.S. by 2025. Our CEO has
made clear that this commitment alone is not enough, but it is an important step that we intend to build
on.
Moving onto the planet pillar, at HP we are on a journey to transform our business for a circular and low
carbon future, and we are working to deliver the most sustainable portfolio of technology hardware
products and services. A circular economy model can yield not only enormous environmental and social
benefits, but also economic value, and these benefits include a reduction of 250 million to 350 million
metric tons of carbon dioxide in the air, $2 trillion in annual U.S. revenues generated by circular
manufacturing, $7 billion in new revenue opportunities from recycling, precedes and recyclers. Our
approach is comprehensive and I'm going to walk through four areas where we drive progress toward a
circular and low carbon economy and provide examples of how this shows up in our products and
services.
Strategy one is designing out waste and using materials responsibly which means using only the
materials that is really needed and considering the environmental and human health impact of materials
that we use. It means using less material. Only about 14% of plastic packaging is collected for recycling
and just 2% of that is recycled to a similar quality. So, we have announced a new goal to eliminate 75% of
single use plastic packaging by 2025 compared to 2018. Through 2019, we've achieved a 5% reduction.
Our strategy also means using recycled materials where possible. Last year we set a goal to increase our
use of post-consumer recycled content plastic across HP’s personal systems and print product portfolio to
30% by 2025. During 2019 we used 25,560 tons of post-consumer recycled content plastic in HP
personal systems and print products, 9% of the total plastic used.
Our strategy means using materials that deliver added social and environmental benefits. Many of you
may be familiar with the HP Dragonfly, the world's first notebook made with ocean bound plastic. In the
last year, we have also launched the world's first Chromebook with ocean bound plastic that also
contained 75% recycled aluminum in its top lid, the world's first mobile workstation with ocean bound
plastics, and the world's first display manufactured using ocean bound plastics. Yesterday we announced
that we have sourced 1.7 million pounds of ocean bound plastic for use in HP products. We have also
created over 1,100 income opportunities and helped provide educational and health services to over 150
kids in Haiti.
Strategy two is about keeping materials and products in use either by giving products longer lives and
multiple uses or by cycling materials back into the manufacturing process at end of service. In one
example of how we can extend the life of materials in partnership with the tele-dentistry and aligner
therapy companies SmileDirectClub, HP is recycling excess 3D printing material and already processed
plastic mouth molds to convert into pellets for a traditional inkjet molding.
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Another key piece is the shift to contractual services-based business models across our Print, Personal
Systems and even 3D businesses. The results from a new independently conducted lifecycle assessment
analysis which will be posted to our website were clear and unmistakable. Not only do HP services-based
solutions have better environmental profiles, they also do so across all the environmental impact areas
studied: global warming, water, human health, ecosystems and resources. This study showed that
product-as-a-service solutions significantly advanced the circular and low carbon economy through
extended product life, usage optimization, avoided manufacturing and materials and transportation
reductions.
Our third circular economy strategy focuses on taking steps to create a low carbon economy. We have
long prioritized the energy efficiency of our products and in 2020 have been recognized as an ENERGY
STAR partner of the year for sustained excellence. Because energy uses a major contributor to the
carbon footprint of our product, making our products more energy efficient leads to lower resulting
emissions from our products during use. From 2015 through 2019 the GHG emissions intensity of our
products during use has gone down by 18% toward our goal of 30%, meaning that we're driving less
emissions on average per $1 of revenue.
Looking ahead, we're piloting carbon neutral products and services. The HP Tango Terra was our first
certified carbon neutral product and the world's most sustainable home printing season. This was a very
small pilot project but a great example of learning by doing. By 2025 we aim for our Instant Ink and
Managed Print Service offerings to be carbon neutral providing an added layer of value to our customers.
Lastly, if we really want to create a climate stable future, we believe in a need to invest in nature-based
solution and protect the ecosystem services on which we all rely. Through the sustainable forest
collaborative, we are protecting and restoring 200,000 acres of forest, an area equivalent to the size of
New York City by the end of calendar year 2024. The area forest that will be under these projects will
produce enough paper to run through all HP consumer printers over four years.
The last piece I wanted to touch on is the community pillar of our sustainable impact strategy. Within the
communities where we live, work and do business, HP, our employees and the HP foundation contribute
time and resources to supporting vibrant, healthy and resilient communities. But perhaps even more
critically are the ways in which we deploy our products, services and expertise to support better economic
and educational outcome. We have a goal to enable better learning outcomes for 100 million people, and
along with our partnerships, technology is a critical part of reaching this scale. As of 2019, we have
reached more than 28 million learners worldwide. We've seen the power of this approach come to life in
new ways during the COVID-19 pandemic. Over 60% of the world's student population has been
impacted by temporary school closures, that's 1.1 billion students affected as of June 7. And, as
education has moved online and to digital platforms, many were left without access because they do not
have the right technology or connectivity in their homes.
We quickly worked together with non-profit partners to launch and promote several initiatives aimed at
supporting teachers, students and school districts through a range of digital and printed educational
resources, including an initiative with time for kids to provide free access to its digital library, and print,
play, learn through which we are providing hundreds of free printable activities to families learning from
home. We also launched the HP Refresh program to assist students to gain access to use notebook or
desktop personal computers for e-learning.
We have also been able to deploy our technology to address critical health needs during the pandemic.
HP and its global community of partners and customers have produced more than 2.3 million 3D printed
parts using HP 3D printing technology. HP and its partners are providing the validated design files for
many of the parts that do not require complex assembly and they are freely available for download. We
are also deploying the HP bio-printers and associated supply cassettes free of charge to NGOs,
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government agencies and pharmaceutical companies to accelerate drug and vaccine research to combat
COVID-19. We are also helping medical professionals by supporting an initiative to print photos stickers
that can be attached to personal protective equipment, so that patients can see and connect to the
individual providing them with care. In this difficult moment, we are reminded once again of the critical
power of technology and of creating shared solutions.
With that, I will conclude my planned remarks and open it up to questions.
Tesh Dahya
Thanks Judy. We'd like to do some Q&A now. So, if you haven't had a chance to yet, we do encourage
you to submit a question via our webcast tool. Please do that, if you haven’t had chance to do that. Why
don't we start Judy with a question about diversity, and inclusion. Can you talk more about HP's diversity
hiring goals and how we're looking to improve diversity at HP?
Judy Glazer
Sure. Tesh, delighted to talk about that. The killing of George Floyd and many other African Americans,
that's an all too familiar tragedy within our black communities. It's a shocking and sad reminder of how
much progress must still be made to put an end to systemic racism and inequality that still exists in our
society. With that in mind, we announced a new goal to double the number of black and African American
executives inside the Company by 2025.
Overall, nearly 4% of HP’s U.S. employees are black and African American as of the end of FY ‘19, we've
simply not made enough progress on African American hiring, and we don't find that that number is
acceptable. So, we're also taking action to improve that. We strive to be a destination of choice for
women and underrepresenting groups, seeking careers in tech. We've partnered with the historically
black colleges and universities, the HBCU to recruit and train black graduates. For example, we've
partnered with HBCU business Deans roundtable to launch programs like the HP HBCU business
challenge to encourage students to solve real time business problems. Since it was launched three years
ago, nearly 300 students from more than 44 HBCUs accepted the challenge. More importantly, some of
these were parlayed by students into internship and later into jobs. This summer, we launched a new
program called HP Summer Scholars in response to the decline in internships for college students due to
COVID-19.
Once again, we partnered with HBCU Deans to encourage students to apply and enroll in the six-week
virtual course that's going to teach them how a global business operates and explore technology in core
business areas like 3D printing, print personal systems, data analytics and more. My own daughter is part
of this program and really finding it a great compliment to her education with topics that make a person
more work ready and that aren't usually included in a university education.
We know we still have a long way to go, but we're committed to improving education and economic
opportunities for black and African Americans and other under-represented communities and I hope these
programs can give you a sense of how we're attacking that.
Tesh Dahya
Thanks, Judy. Just switching gears slightly, got a question about some packaging comments we've made
in the Sustainability report, so can you talk about why the target is 75%, why not 100% and can't we use
100% of recycled plastic in each of these products?
Judy Glazer
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reporting of the substance of the conference call. This transcript is being made available for information purposes only.
1‐888‐562‐0262 1‐604‐929‐1352 www.viavid.comHP, Inc. – 2020 HP, Inc. Sustainable Impact Webcast, June 25, 2020
Yes. So, packaging has many different functions and most importantly to protect the product as it's on its
way to the customer. Our environmental plastic strategy aims to eliminate all unnecessary plastics or
materials of concern, whenever we can. And so we'd like to get to zero, we recognize that we also have
to ensure that the product is well protected. A damaged product arriving at a customer is not only a really
bad customer experience but also bad from a sustainability perspective.
What we're finding as we pursue our research moving to, to more recyclable and paper-based
alternatives wherever we can is that we can do a lot more than we've done in the past. For example, that
transition to multi-fiber personal systems packaging cushions eliminated 933 tons of hard to recycle
expanded plastic from just last year. What we are finding is that for some of our heaviest projects
products with both large printers and large displays with a big piece of glass, we don't yet have the
technology solutions to completely eliminate plastic, although we continue to look for ways to do even
more beyond that 75% goal.
Tesh Dahya
Thank you, Judy. Next question. How does HP measure new sales that are influenced by Sustainable
impact and how did the Sustainable impact philosophy drive actual business value? Can you unpack that
a bit more?
Judy Glazer
Sure. More than ever we know that sustainable impact differentiates us to help win new business, retain
customers and engage talent. Our market research really demonstrates that; 51% of consumers believe
that brands can do more to solve social health than government, 64% of consumers accept and reject
brands based on their societal stance on issues, and 60% of millennials want to be employed by
companies that contribute to social and ethical causes.
At the same time, it's really difficult to measure the full impact of sustainability on our business. We're
confident it's much bigger than the number we're citing. The $1.6 billion in the new sales represents the
total value of the sales wins by—as measured by total contract value confirmed in 2019 for deals in which
sustainability criteria were a known consideration and that were supported actively by our sustainability
and product compliance organization. It's worth noting that this only captures the deals we know about on
an enterprise level based on the information that salespeople share with us, and it certainly doesn't
include consumer purchase drivers or capture all the enterprise deals.
As a result, we're really certain that this is a very conservative estimate of the top line impact of our
sustainable impact strategy. We continue to work on improving our systems so that we can better track
the financial impact on our business of sustainable impact and target our work.
I also want to mention that that the impacts on our business are certainly far broader. We get some other
benefits, risk management, helping us spot critical risks that have the potential to up end our business
continuity or the direction of our product lines; reputation, helping us to make sure we remain a trusted
brand among customers, employees and others; resilience, helping us to address big challenges coming
every day. Some we see coming and are actively planning for like climate change and some that emerge
more unexpectedly like the coronavirus pandemic; and sustainable impact helps to manage all of those
making us more resilient, protected against risk and able to whether challenging times.
Tesh Dahya
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Thank you for that, Judy. How about a question on the supply chain and labor specifically. I see a
question here about some of the potential forced labor allegations potentially in China. For example, how
does HP deal with maybe some challenges of that potential risk in the supply chain? And, how about—
how do we audit to prevent those types of types of risks from occurring in HPs supply chain?
Judy Glazer
HP has strict policies against the use of involuntary labor any kind in our supply chain and we've been a
leader in our industry in establishing policies like that, and in engaging suppliers to ensure they
understand those policies, and work to meet them. So, any instance of forced labor or suppression of an
individual’s human rights is unacceptable to us. As part of our contracts with suppliers, they're required to
comply with all applicable laws as well as the international standards we cite for social and environmental
responsibility.
We take all claims seriously and when issues come to us, we investigate them ourselves and in
collaboration with the responsible business alliance. More proactively, we have a very active audit and
assessment program as well as the capability building programs that I mentioned to help suppliers and
their management teams understand and build the capability to meet our requirements, as well as
programs in that workers specifically so that they’ll use their voice and are empowered to improve their
situation.
Specific to forced labor, one of the things we've focused on are the risks that come with recruitment of
foreign migrant workers and other vulnerable workers. We publish a modern slavery transparency
statement describing our program in detail that complements within the sustainable impact report and our
inaugural human rights progress report. And in it, we detailed the types of findings we find and are
focused on remedies for workers ensuring that not only do we halt those rare cases of—that pose a risk
of forced labor on our supply chain, but also drive for remedies for supplier workers so that we directly
address the risk for those workers that the way in which they got their job could make it very difficult for
them to leave.
Tesh Dahya
Thanks, Judy. How about a question on reporting, perhaps a question regarding, as we hear—how does
HP continue to deepen the reporting, particularly with respect to investor information needs. Can you
address that?
Judy Glazer
Certainly, so this is our 18th report and we have a very long history of being transparent and quite
thorough in our reporting. We continue to work on improving our disclosures in line with stakeholder
needs every year. So once again, we’ve produced a GRI core report, and for the first time this year, we
are including a SASB index. We know this is a standard that many investors have expressed is important
to them.
We're also starting to integrate the TCFD recommendations in our strategy and reporting. So, for several
years now, we've included metrics and goals related to climate including our scope 1, 2 and 3 emissions,
and we feel we've been a leader there. In 2007, we were the first IT company to publish greenhouse gas
emissions associated with product manufacturing. And in 2013, the first in our industry to set a supply
chain greenhouse gas emission, intensity reduction goal. And the first company globally to publish its
complete carbon footprint across the entire value chain. So in this report, we've included some additional
detail related to climate disclosure specifically the governance structure related to climate change and
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how we address that in HP, our climate strategy, and an expanded discussion on HP’s key risks and
opportunities presented by climate change.
Tesh Dahya
Okay, thank you, Judy. How about a question on carbon footprint. It appears that HP carbon footprint was
5% more than in 2018. Can you help explain what drove that change, or actually increase for the year?
Judy Glazer
Certainly. So, we publish a carbon footprint that includes both direct and indirect emissions from
operations, from our supply chain and our products and solutions. So that reaches all the way back to the
raw materials used in manufacturing of products and all the way forward to the use of energy and paper
by our customers when they use our products. So this year, the increase in our carbon footprint of about
5% was a result of a 12% increase in the product manufacturing emission. This doesn't come primarily
from our final assembly. It's largely due to business growth and changes in the mix of key Personal
Systems component and the impact that has on the full manufacturing footprint. That increase more than
offset a 3% reduction in product use case emissions driven by improved product energy efficiency.
As I mentioned earlier, we also have a goal to reduce product use greenhouse gas emissions intensity by
30% by 2025 versus 2015. And we're more than halfway there at an 18% decrease through the end of
this year. That metric measures emissions per unit shipped during the anticipated product lifetime of use.
And then, we wait that out with the—between the contributions of Personal Systems and printing products
to our overall revenue.
Tesh Dahya
Thank you. Judy, can you also talk then—we talked a lot about ocean-bound plastics in the reports.
Perhaps talk a little bit about the amount of ocean-bound plastics that HP can use? I don’t know if you
can quantify what we can use in the year or a timeframe, but maybe a little bit about on ocean-bound
plastics and where that’s going?
Judy Glazer
Well, what I can say is that we continue to increase our use of ocean-bound plastics every year. We’re
really proud of the goal we've announced as an industry-leading goal to use--increase our use of recycled
content plastic across Personal Systems to 30% last year. So far, we sourced 1.7 million pounds, more
than 60 million bottles of ocean-bound plastic that might have otherwise washed into the ocean and
launched the world's first notebooks, displays, mobile workstations and enterprise Chromebooks with
ocean-bound plastic. We intend to keep driving that upwards to significantly increase our use of ocean-
bound plastic in those and other new applications. So, you can look for more than increased use in the
future in a wide variety of applications. As I mentioned, this is part of a larger strategy to have the world's
most sustainable PC portfolio and to achieve the same aim for our printing product portfolio as well.
Tesh Dahya
Thanks, Judy. Maybe time for one last question, can you talk about HP’s Zero in deforestation targets,
can you talk a little bit more about that?
Judy Glazer
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reporting of the substance of the conference call. This transcript is being made available for information purposes only.
1‐888‐562‐0262 1‐604‐929‐1352 www.viavid.comHP, Inc. – 2020 HP, Inc. Sustainable Impact Webcast, June 25, 2020
Certainly. So, it's our goal to regenerate the natural systems that sustains life with a focus on protecting
and restoring global forests, certainly very important to us as a printing company. After eliminating
deforestation in the supply chain for HP branded paper in 2016, we’re now on track to do the same for
paper-based product packaging by the end of this year 2020. But beyond that, in 2019, we announced
our partnership with the World Wildlife Fund. Together HP and World Wildlife Fund aims to restore and
protect and responsibly manage 200,000 acres of forest. Over five years, we're contributing $11 million to
WWF to restore part of Brazil's critically threatened Atlantic Forest. And, in China are working with WWF
on a project focused on increasing the area of sustainably managed forest plantations to improve their
resiliency and their biodiversity.
In both countries with the help of WWF, we're advancing forest science to quantify the nature benefits of
forest restoration with the intent of inspiring others to take similar action. This year, we also launched the
HP Sustainable Forests Collaborative and those efforts have already inspired the Arbor Day Foundation,
Chenming Paper, Domtar, and New Leaf Paper to join the collaborative and accelerate efforts on forest
restoration.
This kind of cross-industry collaboration demonstrates—will allow us to demonstrate scientific and viable
approaches to keeping forest ecosystems healthy, and we seek others to join the movement to grow
forests and biodiversity for future generations.
Tesh Dahya
Thanks, Judy. I think that’s about all the time we have for questions. So Judy, maybe a few closing
remarks?
Judy Glazer
Sure. I just would like to wrap up by highlighting HP’s purpose to create technology that makes life better
for everyone, everywhere. So, creating value that impacts people, planet and community is a pillar of our
strategy and of our business dating all the way back to our founders. We see sustainable impact not only
as a moral imperative and one that is—longtime employees like me and our newest hires hold very dear
to us. It's also a critical business imperative as well that more than ever positions HP for the future, for our
customers, for our investors, and as a trusted brand.
So, I hope this has been a valuable session for you to highlight some of our key focus areas and look
forward to our next innovations and encourage you to keep an eye out for what we can do in the future to
continue to deepen sustainable impact and its value for HP and its customers and for the industry as a
whole. Thank you very much.
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reporting of the substance of the conference call. This transcript is being made available for information purposes only.
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