HP Issues Bonds To Fund Future Sustainable Projects
Technology company HP Inc. has announced its latest actions for a more sustainable future. HP marks a new stage in its sustainability journey as it issues bonds to raise finances for its future projects.
The firm announced the issuance of US$1bn worth of bonds, of which all the funds will be put towards economic, social, and sustainability issues. HP set some of the most ambitious and comprehensive environmental and social targets like gender equality - to be met by 2030 - and carbon neutrality by 2040. Marie Myers, Chief Financial Officer at HP, spoke about these goals.
“The long-term success of our business will be inextricably linked to our ability to help solve the challenges facing the planet and society as a whole,” Myers says. “HP has long been a purpose-driven brand that’s anchored in strong corporate values. This offering is an important part of our overall approach to aligning the needs of our business with the needs of the world around us.”
HP’s Sustainable Bond Framework
HP’s Sustainable Bond Framework has been established based on three key pillars: climate action, human rights, and digital equity.
HP announced its ambitious goals for tackling climate change:
- Achieve net-zero emissions across the company’s value chain by 2040.
- Reach zero operational waste and carbon neutrality by 2025.
- Achieve 75% circularity of products and packaging by 2030.
- Tackle deforestation for non-HP paper used in its products and print services by 2030.
HP is the first Fortune 100 company to commit to complete gender equality in leadership by 2030:
- Achieve a workforce with 30% of technical roles carried out by women.
- Meet or exceed labour market representation for racial and ethnic minorities in the US by 2030.
- Maintain an annual rating of 90% or above on the internal inclusion index for all employee demographics.
- Employee a total of one million workers through worker empowerment by 2030.
The company’s digital equity goals will be launched alongside HP’s 20th annual Sustainable Impact Report:
- Form a committee with representatives from Sustainability, Treasury and Finance teams, responsible for assessment and selection of eligible projects.
- An approval and review procedure for all funding allocated to projects by the CSO or Social Impact Officer.
- Publish a Sustainable Bond Report, beginning in 2022, based on certain criteria.
HP prides itself on a value-driven culture across a global network of employees and partners, allowing the company to insert confidence into its ability to meet its sustainability goals.