STOCK TITAN

HP Accelerates Drive to Reduce Ocean Plastics with Expanded Planet Partners Program

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

HP Inc. expands its Planet Partners recycling program to 68 countries, enhancing its commitment to a circular economy.

Over 875 million ink and toner cartridges have been recycled, and a new $2 million washing line in Haiti will produce high-quality recycled plastic for HP products.

HP's initiatives aim to reduce ocean-bound plastic and have diverted approximately 1.7 million pounds of plastic from reaching oceans since 2016.

The company pledges to include 50% of Amplify partners in sustainability efforts by 2025, reinforcing its leadership in environmental responsibility.

Positive
  • Expansion of recycling program to 68 countries.
  • Recycled over 875 million ink and toner cartridges.
  • Investment of $2 million in new washing line in Haiti for producing recycled plastic.
  • Diverted approximately 1.7 million pounds of ocean-bound plastic since 2016.
  • Plans to include 50% of Amplify partners in sustainability efforts by 2025.
Negative
  • None.

New washing line in Haiti helps reduce ocean-bound plastic and benefits local communities, the planet and our future

News Highlights:

  • Expands HP Planet Partners best-in-class Original Equipment Manufacturer (OEM) printing supplies recycling program1 to 68 countries and territories
  • Rated the world’s #1 printer supplies recycling program1, HP Planet Partners inspires customers and partners to maximize sustainable impact
  • Recycles over 875 million HP ink and toner cartridges to date2, recovered materials used for brand new HP supplies through its closed-loop process
  • Launches new mobile-friendly HP Planet Partners website, making recycling with HP easier than ever and possible from nearly anywhere

PALO ALTO, Calif., Oct. 21, 2020 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today announced the expansion of its Planet Partners supplies return and recycling program to 68 countries, including Argentina, Chile, and Papua New Guinea. Expanding HP’s OEM printing supplies recycling program into new markets furthers the company’s long-standing commitment to driving a circular and low carbon economy with its partners and customers.

The HP Planet Partners program makes sustainable choices easier for HP customers, enabling them to take simple steps towards achieving their own goals to reduce waste. To date, the program has recycled over 875 million HP ink and toner cartridges.2 Buying and recycling Original HP ink and toner cartridges, customers and partners take action in HP’s closed loop process and contribute to the company’s efforts to create a sustainable future for printing that is forest positive, carbon neutral and supports a circular economy.​

“Like many global challenges of this year, the climate crisis reveals how interconnected we are,” said Guillaume Gerardin, global head and general manager of print supplies for HP. “Our goal is to enable and mobilize our partners and customers to join us in driving meaningful change and a more circular economy. That’s why we are committed to developing best-in-class initiatives like our HP Planet Partners program to reduce waste going into landfills and the opening of a new washline in Haiti to help reduce ocean-bound plastic.”

“The HP Planet Partners program is the best-in-class OEM printing supplies recycling program1,” said Rebecca Schiffenhaus of Keypoint Intelligence. “HP is leading the way in helping keep plastic out of nature. The HP Planet Partners program continues to demonstrate sustainable impact by scaling across geographies, making it easy to return cartridges and including recycled content in new cartridges.”

To further this goal, the company has pledged to grow HP Amplify Impact – a first-of-its-kind program that will mobilize our channel ecosystem to help advance sustainability, build diverse and inclusive workforces, and unlock the full potential of communities – to include 50 percent of its Amplify partners by 2025.

Reducing Ocean-Bound Plastics

HP invested $2 million in a new plastic washing line in Haiti that produces clean, high-quality recycled plastic for use in HP premium products, including Original HP ink cartridges and the company’s most sustainable PC portfolio and also opens up new markets for the Haiti team. This investment into a self-reliant ocean-bound plastic supply chain continues HP’s longstanding commitment to diverting ocean-bound plastic and contributing to a lower-carbon, circular economy while providing income and education opportunities locally. As of today, the washing line is fully functioning, thanks to the local Haiti engineering team and HP partner, STG Group of Germany.

HP Planet Partners recycling process also relies in part on ocean-bound plastics sourced and recovered in Haiti. HP has been reducing ocean-bound plastic in Haiti since 2016, and these efforts have already diverted approximately 1.7 million pounds (771 metric tons) of plastic materials—or more than 60 million bottles— preventing this plastic from reaching waterways and oceans. Of that, more than 485,000 pounds (220 metric tons) have been diverted from oceans to be used in Original HP ink cartridges.

In October 2018, HP joined NextWave Plastics, the collaborative and open-source initiative convening leading technology and consumer-focused companies to develop the first global network of ocean-bound plastics supply chains. The coalition has set a goal of diverting a minimum of 25,000 tons of plastics – the equivalent of 1.2 billion single-use plastic water bottles – from entering the ocean by the end of 2025.  

“HP is working to set the industry standard for sustainability practices, and as a member of NextWave Plastics, is ensuring that the lessons they have learned are shared among other industry leaders to make an even greater impact,” says Dune Ives, CEO of Lonely Whale, the convening entity of NextWave. “HP’s creativity and commitment to their work in Haiti in the face of a global pandemic is making waves

FAQ

What is HPQ's Planet Partners recycling program?

HPQ's Planet Partners is a global recycling initiative that enables customers to return used ink and toner cartridges for recycling, significantly contributing to sustainability efforts.

How many countries does HPQ's recycling program operate in?

As of now, HPQ's recycling program operates in 68 countries and territories worldwide.

What is the financial impact of HPQ's new washing line in Haiti?

The washing line represents a $2 million investment aimed at producing recycled plastic for HP products, contributing to local economic development.

How much plastic has HPQ diverted from oceans?

HPQ has diverted approximately 1.7 million pounds of ocean-bound plastic from entering waterways since 2016.

What sustainability goals does HPQ have for 2025?

HPQ aims to incorporate 50% of its Amplify partners in sustainability initiatives by 2025, further enhancing its environmental efforts.

HP Inc.

NYSE:HPQ

HPQ Rankings

HPQ Latest News

HPQ Stock Data

30.56B
936.51M
0.2%
82.42%
3.95%
Computer Hardware
Computer & Office Equipment
Link
United States of America
PALO ALTO