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HP’s Sustainability Criteria Helped Generate $700M in New Revenue

HP
(Photo: HP partnered with Homeboy Recycling on a closed-loop recycling process. Credit: HP)

HP Inc. says that sustainable impact was a key differentiator for more than $700 million in new business last year. The company’s newly published 2017 Sustainable Impact Report shows a 38% year-over-year increase in sales bids with sustainability requirements.

“In 2017, customers with sustainable purchasing criteria — including criteria related to eco-labels — represented a total of approximately $15.8 billion of existing and potential business revenue,” the report says.

Creating a more efficient, circular, low-carbon economy is one of the global tech company’s major goals. HP reported that their suppliers have avoided 1.05 million metric tons of carbon dioxide between 2010 and 2017.

On the products and services side, there was a 33% decrease in product portfolio GHG emissions intensity compared to 2010, an 8% decrease in materials use intensity for personal systems products, and a 6% decrease in materials use intensity for printers compared to 2016.

More than 18,000 metric tons of recycled plastic went into HP products last year. In addition, 99,000 metric tons of recycled plastic were used to make 3.8 billion new ink and toner cartridges throughout 2017.

The company credits partnerships for helping close the loop. They work with the LA-based Homeboy Electronics Recycling to recover material from end-of-service devices for incorporation into HP’s closed loop materials stream.

HP also has a partnership with Best Buy for closed loop hardware recycling. Last year that program recovered 3,200 metric tons of recycled plastic resin from electronics for use in new HP printers.

Partnerships with suppliers are also important, HP’s president and CEO Dion Weisler said. Average supplier performance on the company’s sustainability scorecard increased by 8% last year compared to 2016. “In 2018, we are updating our supplier environmental management criteria to include science based GHG emissions reduction targets and third-party verification of GHG emissions,” the report says.

Despite a 90.9% landfill diversion rate worldwide and a 1% decrease in the overall water footprint, HP’s total carbon footprint actually increased by 2% between 2016 and 2017 to reach more than 37 million metric tons of carbon dioxide equivalent.

“We anticipate this amount could increase in 2018, due to the acquisition of Samsung Electronics Co., Ltd.’s printer business,” the report notes. “During the year, we worked to make progress toward our GHG emissions reduction goals across the value chain.”

The full report is available here.

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