SAN ANTONIO, TX. – May 14, 2024 – Recently Frost & Sullivan assessed the electrical and electronics equipment (EEE) circular economy industry, and based on its findings, recognizes HP with the 2024 North American Company of the Year Award. The company creates innovative products through a rigorous design process that focuses on improving the environmental performance of its products throughout its lifecycles. The company developed and refined these processes over 30 years, perfecting its approach. Its Design for the Environment program, Design for Sustainability, employs a science-based method to boost recycled material use and responsible chemistry to improve product repairability, reusability, and recyclability.
HP offers optimization, renewal, and maintenance services that prolong the life of its products, enhance the value acquired from natural resources, and reduce environmental impact. Its IT Asset Disposition service provides commercial customers with secure and easy-to-use device collection and data sanitization services that enable responsible repurposing or recycling of technology. Additionally, HP provides various custom and free recycling programs for used equipment, including a convenient HP and Samsung ink and toner cartridge recycling program located in 67 countries worldwide. The HP Planet Partners program repurposes and recycles the company’s end-of-life products, including batteries, packaging, and home office equipment. This effort has resulted in more than 5.8 billion plastic bottles and 149 million plastic hangers recycled to produce new Original HP Ink and Toner cartridges.
Paulina Blaszczyk, Industry Analyst, Sustainability and Circular Economy, Frost & Sullivan, observed “HP estimates and improves its products’ environmental impact using life cycle and carbon footprinting assessment. The company considers published lists, customer preferences, regulations, and scientific analyses to avoid harmful materials. As a result, it sources recycled and renewable materials for products and packaging, aiming to eliminate 75% of single-use plastic by 2025.”
HP also runs recycling plants in the United States and Germany to shred and sort inkjet cartridges for material recovery. Unrecyclable materials, such as foam and ink, fuel electricity in waste-to-energy incinerators, with metals sold on the scrap metal market. With this sustainability focus, HP remains at the forefront of the EEE circular economy industry. HP is renowned for its commitment to sustainability and a circular economy through sustainable product design for reuse and recycling, closed-loop take-back programs across various regions, and the incorporation of recycled plastics from different sources, cementing its leadership in the EEE circular economy industry.
“Overall, HP addresses environmental challenges with a strong leadership focus that incorporates customer-centric strategies and exemplifies best practice implementation. It helps worldwide customers decrease electronic waste and harmful emissions, and remains a trusted partner, earning a reputation for offering the overall best in the electrical and electronics equipment circular economy industry,” added Paulina. HP earns Frost & Sullivan’s 2024 North America Company of the Year Award for its strong overall performance in the EEE circular economy industry.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About HP
HP Inc. is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: hp.com.
