HP Inc. 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, totalling $1 billion (€820 million), as part of a $2 billion (€1.64 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 what it calls “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.”
HP’s Sustainable Bond Framework is built on three pillars of Sustainable Impact.
As outlined in the Sustainable Bond Framework, HP intends to allocate the proceeds of the sustainability notes to fund projects across eight key areas of the business including: renewable energy, green buildings, energy efficiency, clean transportation, pollution prevention and control, the circular economy, natural resources and land use, and socioeconomic advancement and empowerment.
