HP Inc. Announces Sustainable Bond Framework and Inaugural Sustainability Notes Offering

PALO ALTO, Calif., June 07, 2021 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today announced the release of its Sustainable Bond Framework, which the company will use to issue bonds to help finance HP projects that contribute to a more sustainable and just future.

The company also announced the pricing of its inaugural sustainability notes issuance, totaling $1 billion, as part of a $2 billion overall debt offering. The sustainability notes are designed to empower investors to join HP in tackling important economic, social and sustainability issues.

The sustainability notes offering follows a series of recent announcements by HP setting some of the most aggressive and comprehensive environmental and social goals in the technology industry, including a pledge to achieve net zero carbon emissions across its value chain by 2040 and gender parity in management roles by 2030.

“The long-term success of our business will be inextricably linked to our ability to help solve the challenges facing the planet and society as a whole,” said Chief Financial Officer Marie Myers. “HP has long been a purpose-driven brand that’s anchored in strong corporate values. This offering is an important part of our overall approach to aligning the needs of our business with the needs of the world around us.”

Sustainable Bond Framework
HP’s Sustainable Bond Framework is built on three pillars of Sustainable Impact:

Climate Action (Planet)
In April 2021, HP announced an ambitious set of climate action goals. Highlights include:

• Achieve net zero greenhouse gas emissions across HP value chain by 2040, beginning with Supplies business achieving carbon neutrality by 2030
• Reach carbon neutrality and zero waste in HP operations by 2025ⁱ
• Reach 75 percent circularity for products and packaging by 2030ⁱⁱ
• Counteract deforestation for non-HP paper used in our products and print services by 2030ⁱⁱⁱ

Human Rights (People)
In May 2021, HP announced a series of ambitious goals to drive a more diverse, equitable and inclusive technology industry. HP is the first Fortune 100 tech company to commit to 50/50 gender equality in leadership by 2030.^iv Additional goals include:

• Achieve greater than 30 percent technical women and women in engineering by 2030 
• Meet or exceed labor market representation for racial/ethnic minorities in the U.S. by 2030 
• Maintain higher than 90 percent rating on internal inclusion index for all employee demographics annually^v
• Reach one million workers through worker empowerment programs by 2030 

Digital Equity (Community)