Lifting people out of poverty in Haiti. Eliminating plastic waste in our oceans. Creating innovative technology that drives business growth. On the surface, you might think these three things have nothing to do with one another. But for HP, they are a blueprint for achieving success as a global company.
Over the last five years, HP has been working with nonprofits on the ground in Haiti to repurpose 2.4 million pounds of ocean-bound plastics—the equivalent of 85 million plastic bottles—for use in more than 50 of our products. Not only is this good for our environment, but it has helped more than 1,000 people in Haiti earn income while also sending their kids to school s that we helped support. And in the process, our business is gaining a valuable source of sustainable materials needed to create the next generation of HP technology. Amid all the recent talk about stakeholder capitalism, our work in Haiti is a great example of turning words into action. And there are many others like it across HP and other companies that have put purpose at the heart of their business.
This is good news—not just for our society, but for our companies themselves. A recent report from McKinsey & Company highlighted research showing that, across the board, investing in ESG helps with boosting returns, recruiting talent, and spurring innovation. It’s a management consultant’s way of saying that it’s possible to do good and do well. And I’ve learned that those two goals often build on each other. Because when you invent something the world needs, or help solve a pressing challenge, it creates jobs, helps families put food on the table, and paves a path toward a future that’s brighter than the past.
It also supports profitable business models and long-term growth. That’s because when companies align their strategies with the needs of the customers and markets they serve, they create engines of prosperity and progress.
When companies align their strategies with the needs of their customers and markets, they create engines of prosperity and progress.
This is where the magic happens. When brands foster true human connection and commit themselves to having a sustainable impact on people, our planet, and communities, they build loyalty and trust. And corporate actions like these can quite literally change the world. From climate change to human rights to digital equity, there are huge opportunities for companies of all sizes to be meaningful partners in our communities, our countries, and our planet—all by doing what we do best: innovating and making decisions that drive high performance.
Our founders Bill Hewlett and Dave Packard famously said: “A company that focuses solely on profits ultimately betrays both itself and society.” That lesson has withstood the test of time—and we continue to carry their legacy forward. It’s why we’ve committed to achieving net-zero carbon emissions across our entire value chain by 2040—with a 50 percent reduction by the end of this decade.
It’s why we set a goal to achieve gender parity in management roles by 2030. And it’s why we’re working to accelerate digital equity for 150 million people within this decade.
These efforts don’t come at the expense of business success, they actually help drive it. In 2020 alone, our Sustainable Impact programs resulted in more than $1 billion in new business for HP.
The private sector’s role in driving social progress has never been more important , and now is the time for action. As companies, we are uniquely positioned—and incentivized—to create breakthroughs that pave the way for progress and improve the lives of people everywhere.
CEOs must seize this moment. If you don't, your competitors will.