CEO says ESG gives HP ‘competitive edge’ despite backlash

As companies brainstorm the most effective ways to recruit and retain top talent, HP CEO Enrique Lores has one answer: implement sustainable environmental and social policies.

“Having a positive impact creates a lot of clout and is a really good way to motivate employees, but also to attract top talent,” he explained to It’s fortune Global Sustainability Forum on Thursday.

The technology manufacturing giant announces a set of last year’s ambitious climate goals. HP aims to achieve net zero greenhouse emissions by 2040 and achieve carbon neutrality and zero waste in operations by 2025. HP also has an extensive reforestation initiative; the company aims to maintain zero deforestation for HP paper and packaging and to combat deforestation for non-HP paper used in HP products by 2035.

According to Lores, more than 90% of PCS are made with recycled plastic. “Throughout the company we are looking at what opportunities we have to reduce the impact on the environment,” he explained. “It really creates a lot of energy among our employees and our customers because they really want to participate in these types of initiatives,” he added.

Lores also outlined HP’s sustainability efforts beyond the company’s environmental impact. The company has “aggressive goals to promote diversity,” according to Lores. The company announces a set last year’s diversity and inclusion goals, including achieving equal representation of women and men in HP leadership as well as meeting labor market representation for racial groups in the US by 2030. No HP only wants to be inclusive within their own operations, but they encourage the diversity goals of the companies HP works with as well, Lores said.

Lores also spoke about the importance of increasing access to technology around the world, especially as the COVID-19 pandemic accelerates the world’s reliance on remote, digital communication. Last year, HP launch ‘ The HP PATH (Partnership and Technology for Humanity), which aims to improve digital literacy and access for 150 million people by 2030. “It’s about providing access, but it’s also about training,” said Lores. . “We have a comprehensive program, which we are proud of, and we think it will help us gain a competitive advantage compared to other companies.”

He emphasized that despite the ESG backlash from conservatives who frame ESG investing as so-called “woke” investing, the promotion of sustainable policies increases HP’s profits and overall success as a company. The company said $3.5 billion in revenue in efforts to maintain it. “We’re very passionate, and we’re pushing it forward because we think it’s the right thing to do for the world and for the company.”

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