11.2 C

HP CEO pushes back on ESG backlash: ‘Having a positive impact creates a lot of clout’



As companies brainstorm the most effective way 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 attract top talent,” he explained at Fortune’s Global Sustainability Forum on Thursday.

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

According to Lores, over 90% of the PCS that are produced are made using recycled plastic. “All over the company we are looking at what opportunities we have to minimize environmental impact,” he explained. “It’s really creating a lot of energy with our employees and with 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 improve diversity,” according to Lores. The company announced a set of diversity and inclusion goals last year, including having equal representation among women and men in HP leadership as well as meet the labor market representation for racial groups in the U.S. by 2030. Not only does HP want to be inclusive within their own operations, but they are encouraging diversity goals in the companies that HP works with as well, Lores said.

Lores also spoke to the importance of increasing access to technology globally, especially as the COVID-19 pandemic accelerated the world’s reliance on remote, digital communication. Last year, HP launched HP PATH (Partnership and Technology for Humanity), which aims to promote digital literacy and access for 150 million people by 2030.  “It’s about providing access, but it’s also about training,” Lores said. “We have a fairly comprehensive program, which we are really proud of, and we think it’s going to help us get a competitive advantage versus other companies.”

He emphasized that despite ESG backlash from conservatives framing ESG investing as so-called “woke” investing, promoting sustainable policies increases HP’s profitability and overall success as a company. The company attributed $3.5 billion in revenue to its sustainability efforts. “We are very passionate, and we are driving it forward because we think it’s the right thing to do for the world and for the company.”

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

Source link

Subscribe to our magazine

━ more like this

Cornerstone Removals: UK’s Most Reliable and Flexible House Moves

Moving home can be a stressful and challenging experience, but with Cornerstone Removals, you can rest assured that your move will be smooth and...

Millions of Americans don’t have the luxury of moving on from the pandemic. We shouldn’t leave them behind  

When the pandemic broke out nearly three years ago, older Americans were vulnerable.  They still are today.  Since 2020, people 65 and over have comprised...

Apple’s once again trying to optimize the iPhone’s Crash Detection feature

Apple has released iOS 16.3.1, which includes “optimizations” for the iPhone 14 and 14 Pro’s Crash Detection feature that’s been criticized by some...

Opinion | Iranian Nationalists Reject the Regime

It‘s no longer true that a Western military strike would lend the theocracy stronger domestic support. Source link

Alternative hip-hop pioneer Trugoy the Dove of De La Soul dies at 54

David Jude Jolicoeur, known widely as Trugoy the Dove and one of the founding members of the Long Island hip hop trio De...