News highlights:
- HP announces next step towards creating a forest positive1 future for printing
- Partners with World Wildlife Fund to take actions that are positive for forests
- Contributes to forest protection, restoration and improved forest management
- Commits to the restoration, protection and conservation of 200,000 acres of forest
- Responds to consumer demand for forest conservation beyond sustainable sourcing
- Invites suppliers to lead with Forest Stewardship Council’s (FSC) certification
- International Paper and FSC endorse HP Sustainable Forests Cooperative2
NEW YORK, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Today at the World Economic Forum’s Sustainable Development Impact Summit, HP Inc. (NYSE: HPQ) announced its next steps in creating a forest positive future for printing with longstanding partner and conservation leader World Wildlife Fund (WWF). Partnering with WWF, HP is committing to the restoration, protection and conservation of 200,000 acres of forest, an area equal to the size of New York City. As part of the 5-year agreement, HP will also support WWF’s efforts in developing science-based targets for forests, estimating carbon and nature co-benefits of forest restoration and improved forest management. The new initiative, led by WWF, begins this November. The two major forest restoration and management projects mark the first within HP’s Sustainable Forests Cooperative.
By collaborating with WWF, the world’s leading printer company is investing in the conservation of the world’s forests and taking meaningful action towards its vision for sustainable printing. HP’s Sustainable Forests Cooperative, which goes beyond sustainable fiber sourcing programs, is designed to drive action now and inspire others to preserve and improve forest ecosystems for future generations. The company’s goal is that printing with HP will directly increase responsible FSC-certified and recycled fiber sourcing, while contributing to the restoration, protection and improved management of the world’s forests for future generations.
“HP has long envisioned a future bettered by technology and the power it has to create a more sustainable future,” explains Tuan Tran, president, global imaging and printing solutions. “That’s why we’ve teamed up with World Wildlife Fund, FSC and others to create a forest positive future for printing by restoring and protecting the world’s forests for our industry, our customers and our communities.”
A Forest Positive Future
Over the 5-year agreement, HP will contribute $11M for WWF to restore part of Brazil's threatened Atlantic Forest and increase sustainable management of state-owned farms and forest plantations in China – ultimately protecting a combined area of 200,000 acres.
HP will also contribute toward WWF’s development of science-based targets for forests. The partnership will provide much needed guidance on the quantity and quality of forests needed in key regions to restore and protect forest ecosystems and nature co-benefits that provide for people, plants and animals. HP will support the development of external tools to help companies estimate the climate, water and biodiversity benefits associated with various conservation efforts.
“The decline of forests around the world increasingly destabilizes our climate and threatens the rich biodiversity that sustains billions of lives and livelihoods,” explains Carter Roberts, President and CEO of World Wildlife Fund. “To reverse the global loss and degradation of forests, companies need to look beyond their own supply chains and implement bold strategies to protect and restore these critical ecosystems. HP’s new project has the potential to deliver meaningful and lasting change and spur other industry leaders to action.”
A Call to Action
With resource-rich forests being destroyed at the pace of 27 soccer fields per minute, HP believes the time for better business models, greater collaboration and swift action is now. In response, HP is working with the world’s largest paper manufacturers, including International Paper whose tonnage of responsibly sourced fiber is more than 7 million tons a year, equal to the weight of 50,000 blue whales – the largest animal on earth.
Furthermore, International Paper and WWF have collaborated on ambitious goals for the sustainable sourcing of fiber, and the two are establishing the first ever science-based targets for forest conservation. HP will amplify the conservation efforts already underway with WWF and International Paper. As a longtime FSC stakeholder and certificate holder, International Paper is committed to sustainable forest management, conservation and restoration efforts both within its supply chain and outside the company.
“We are thrilled that HP has decided to join us in our ambition to advance conservation and restoration actions in forest ecosystems beyond our existing fiber supply chains,” said Tom Cleves, International Paper’s vice president of global citizenship. “We applaud HP for holding all its suppliers accountable for responsible sourcing and ensuring consumers know that the paper they buy comes from renewable, sustainably managed forests.”
A Look Forward
Having achieved its zero deforestation goals with HP branded paper, and in addition to the projects announced today, HP intends to increase awareness about the importance of responsibly managed forests, generating further demand for Forest Stewardship Council (FSC)-certified and forest-friendly products.
“As the world’s most trusted forest certification, FSC-certified responsibly managed forests are critical for biodiversity, clean water and carbon storage, as well as for wood and fiber,” states Corey Brinkema, president, Forest Stewardship Council US. “HP’s new initiative represents the type of business leadership needed to protect forests for current and future generations, and fight climate change, even as we use forest products to meet our daily needs.”
HP will also continue its efforts in reducing carbon emissions and energy use, while increasing the use of recycled materials and ocean-bound plastics in its products. The company is on track to achieve zero deforestation goals for packaging by 2020 and has committed to increasing the use of post-consumer recycled plastics to 30 percent across HP’s personal systems and print product portfolio by 2025.
About HP
HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of personal systems, printers and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP Inc. (“HP”) and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of the plans, strategies and objectives of management for future operations, including, but not limited to, our sustainability goals; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the risks that are described in HP’s SEC reports, including but not limited to the risks described in HP’s Annual Report on Form 10-K for its fiscal year ended October 31, 2018, HP’s Quarterly Reports on Form 10-Q for the fiscal quarters ended January 31, 2019, April 30, 2019 and July 31, 2019, and HP’s other filings with the Securities and Exchange Commission. HP assumes no obligation and does not intend to update these forward-looking statements. HP’s Investor Relations website at http://www.hp.com/investor/home contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated, and new information is posted.
Additional Resources:
Media Contacts:
Tom Suiter
tom.suiter@hp.com
www.hp.com/go/newsroom
HP Inc. Media Relations
MediaRelations@hp.com
1 In the corporate sector, the term forest positive has been discussed for several years. Forest Positive requires three actions 1) harnessing direct influence (responsible sourcing); 2) support on-the-ground actions based on sustainability targets informed by nature; and 3) work collaboratively with others to improve forests and governance. WWF: https://www.worldwildlife.org/blogs/sustainability-works/posts/creating-a-forest-positive-future
2 HP’s Sustainable Forests Cooperative goes beyond sustainable fiber sourcing and replanting trees for printing, involving industry and NGO partnerships and considers the entire ecosystem of a forest. This includes the animals and communities that depend on them to live and are directly impacted by forest degradation. HP’s initiative is designed to drive action now and inspire others to preserve and improve forest ecosystems for future generations.