Combating our climate crisis is an unprecedented challenge, and this coming decade will prove decisive. I am optimistic that we can meet this challenge, but it will require every country and every organization to step up and show leadership.

We have all contributed to climate change in some way. At HP, we have a vast global ecosystem spanning manufacturing operations, raw material sourcing, shipping, and other sources of greenhouse gas emissions. But we also have a huge opportunity to make our ecosystem a platform for driving change at scale, powering the future growth of our business while shrinking our carbon footprint and other environmental impacts.

That’s why today we are announcing a new goal: By 2040, our entire value chain—from our operations to our products to our global supply chain—will achieve net-zero emissions of carbon and other greenhouse gases, including a 50% absolute reduction by 2030, compared to 2019.

The measures HP is pursuing, including the target we are announcing today, represent some of the most comprehensive and aggressive climate actions in the technology sector. They exceed the targets set out in the Paris Climate Agreement, align with the relevant UN Sustainable Development Goals, and reflect our commitment to bolstering America’s leadership on climate change.

The urgency of this moment demands that we take bold action and commit to ambitious targets. That’s why we are accelerating our efforts on several fronts, including increased use of sustainable materials like recycled plastics and metals to drive a circular economy. Specifically, we are setting a 75% product and packaging circularity goal—which means that at least three-quarters of the weight of HP’s total annual product and packaging will consist of recycled and renewable materials and reused products and parts by 2030.

No single individual or organization can do this alone—and we must all focus on the areas where we can have the biggest impact. For example, as a printing company, we’re focused on finding new ways to reduce our impact on the world’s forests and to address the concerns that our customers have regarding the amount of paper used in printing. 

That’s why we’ve worked closely with organizations such as WWF, Arbor Day Foundation, and Conservation International on collaborative efforts to fight climate change. This includes an $11 million investment with WWF to protect 200,000 acres of endangered forests. And we commend the work of WWF and others who are developing science-based targets and driving the restoration and protection of forest ecosystems globally.

These are important steps forward that build upon years of progress, but we have more work ahead of us. And we recognize that this is a challenge that no single company, sector, or country can meet on its own. That’s why I’m urging my fellow CEOs and business leaders in the technology sector and beyond to join our common fight to protect our planet—and our future—before it is too late. 

The measures other companies can take may not look exactly like the ones HP is pursuing. Every company will need to determine for itself where it is on its sustainability journey and what it can do to reduce its impact on the planet. But no matter what products a company makes or sells, or how large it is, each of us should do everything we can to take on the climate crisis. 

Over the past year, we’ve all seen what we’re capable of when we work together to meet a common challenge. The COVID vaccine was developed faster than any vaccine in more than a half-century. 

I’m confident that if we bring that same determination and collaborative spirit to the fight against climate change, we will defeat this challenge and usher in a better future for the planet we all share.

Enrique Lores is president and CEO of HP Inc.