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HP announces Sustainability Bond Framework and Issuance of Sustainability Notes to Bolster its Commitments to Making an Environmental and Social Impact

By Zac Nesper, Global Head of Treasury, HP Inc.

June 7, 2021

Our vision is to create technology that makes life better for everyone, everywhere – every person, every organization, and every community around the globe. And as we work to safeguard our planet and the people on it, we have set clear goals designed to support a new era of opportunity – where climate change is reversed, where human rights are universally protected, and where digital equity democratizes opportunity for all.

Today, we are announcing the release of our Sustainable Bond Framework to help inform and guide investments in projects that we believe will help us meet these goals and achieve a more sustainable and just future. In addition, we announced the pricing of $1 billion of our inaugural sustainability notes. As part of our $2 billion overall debt offering, these bonds are designed to empower investors to join us in tackling important economic, social and sustainability issues. We are proud to contribute to this important and growing market and hope this will inspire other companies to do the same.

This initiative is an important part of our overall approach to aligning the needs of our business with the needs of the world around us. We intend to allocate the proceeds from these sustainability notes to finance new and ongoing projects across the following eight key areas:

1) Energy Efficiency

In April 2021, we announced some of the most aggressive and comprehensive climate action goals in the technology industry. For this area, we plan to focus on projects that help reduce water usage, waste and carbon footprint from our operations.

2) Green Buildings
We have long been dedicated to making the workplace more sustainable. Funding projects that design and build offices that meet our sustainability criteria is an important next step in furthering this commitment. We will seek to invest in buildings that achieve LEED, BREAM, or equivalent certifications.

3) Renewable Energy
We plan to explore projects related to new renewable energy including the installation, maintenance and operation of renewable energy generation on-site, such as solar and wind.

4) Clean Transportation
We made a commitment to achieve net zero greenhouse gas (GHG) emissions across HP’s value chain by 2040. These bonds may help fund additional and ongoing projects that work to reduce greenhouse gas emissions by promoting the use and purchase of electric vehicles, charging stations and hybrid vehicles.

5) Pollution Prevention and Control
We strive to aid in the creation of a regenerative society. Projects that improve recycling rates, divert waste from landfills or extend product life will help us get there. We are committed to sourcing recycled plastics for our products as well as to a circular economy through investments like our ocean-bound plastics facility in Haiti.

6) Eco-efficient and/or Circular Economy Products, Production Technologies and Processes

We are committed to achieving net zero emissions across HP value chain by 2040. We hope to support projects that reduce energy consumption and waste in the design phase, incorporate more recycled content into our products, and reduce HP product use GHG emissions intensity. We are focused on moving beyond jurisdictions where recycling is mandatory and driving circularity as well as to new platforms like our continuous ink and toner products that further reduce our environmental footprint.

7) Environmentally Sustainable Management of Living Natural Resources and Land Use
Through the Sustainable Forests Collaborative, HP is already working to protect, restore and manage more than 200,000 acres of forests in Brazil and China. With these sustainability notes, we can target projects dedicated to reforestation and the preservation of natural landscapes.

Since our earliest days as a company, HP has been committed to strong corporate ethics, values and business practices that create value for all of our stakeholders. We believe that, by creating technology in service of humanity, we strengthen our business and the communities we serve.

8) Socioeconomic Advancement and Empowerment
In May 2021, we announced a series of ambitious goals to drive a more diverse, equitable and inclusive technology industry, becoming the first Fortune 100 tech company to commit to 50/50 gender equality in leadership by 2030. We hope to further this commitment by supporting projects that promote greater diversity, inclusion and equity for employees, partners, industry and the communities where we live, work and do business.

Every company has a role in helping to solve the challenges facing the planet and society as a whole. Through such significant investments, we continue to move closer to our dream of a more sustainable and just future.

The sustainability notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or outside the United States to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. This communication does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offer and sale of the sustainability notes will not be registered under the Securities Act or applicable state securities laws and, unless so registered, the sustainability notes may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

Zac Nesper is the Global Head of Treasury at HP Inc. You may connect with Zac on
LinkedIn or Twitter.

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