HP has been identified as a global leader for the actions and strategies it is taking to manage its use of timber products more sustainably by CDP, which named HP one of only eight companies to earn a position on the inaugural CDP “Forest A List” for its deforestation management efforts. HP is the only information technology (IT) company to make this year’s Forest A List.
The CDP ranking recognizes HP’s leadership efforts to reduce the devastating effects of deforestation and help customers make responsible printing and purchasing decisions. These efforts include a goal HP set in 2016 to achieve zero deforestation in which all HP brand paper and paper-based product packaging will be derived from certified and recycled sources by 2020, with a preference for virgin fiber from certified sources of the Forest Stewardship Council. HP is also working with the World Wildlife Fund’s Global Forest & Trade Network-North America to reduce fiber sourcing risks for products and packaging, source more environmentally responsible paper and packaging products, and engage suppliers as partners.
“We are proud to be recognized by CDP for our ongoing efforts to responsibly and sustainably manage our paper-based products and packaging,” said Nate Hurst, Chief Sustainability & Social Impact Officer. “This recognition reflects our commitment to combatting climate change and deforestation by operating a more sustainable business throughout our value chain.”
CDP is an international, not-for-profit organization that provides the global system for companies, cities, states, and regions to measure, disclose, manage, and share vital information on their environmental performance. Its Forest A List features companies that are on the path to sustainably sourcing or producing timber commodities, which are among the four key commodities linked to global deforestation.
“The business case for breaking the link between deforestation and the production of forest-risk commodities has never been stronger,” said Katie McCoy, head of forests at CDP. “We congratulate those businesses that have achieved a position on CDP’s Forest A List for timber. These companies are responding to market demand for environmental accountability and at the same time are making progress towards achieving deforestation-free supply chains. This will not only protect forests, but will help influence market behavior towards a more sustainable economy.”
The rankings were developed from information provided by 175 large companies that was independently assessed against CDP’s scoring methodology, developed in collaboration with leading peers and experts in corporate deforestation risk management. These companies were then ranked accordingly by CDP’s lead scoring partner, the South Pole Group, a leading provider of global sustainability solutions that cover the areas of corporate sustainability, investment climate risks, sustainable supply chains, green finance, and renewable energy and energy efficiency.
HP’s leadership is featured in CDP’s new report, called Revenue at risk: Why addressing deforestation is critical to business success, which was produced at the request of 365 investors with US$22 trillion in assets, who query CDP for data from large corporations on their efforts to mitigate deforestation risks. The report highlights the critical challenges facing businesses in building deforestation-free supply chains for cattle products, palm oil, soy, and timber commodities.
