HP

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

• · berkeley_voluntary_registry
• · CarbonPlan OffsetsDB

IHG sources ~141,853 MWh of renewable electricity (3.6% of total electricity) through default-delivered grid supply backed by energy-attribute contracts in markets including the UK (30,527 MWh), Germany (13,980 MWh), Poland (18,170 MWh), USA (7,576 MWh) and others; plus a long-term wind PPA in India (14,782 MWh, no certificates). On-site self-generated renewable electricity totalled 22,443 MWh. The firm states 'supporting hotels source renewable energy' is one of three core decarb levers but acknowledges 'limited access to suitable renewable energy options that are scalable' as a key dependency holding back progress toward the 2030 SBT.

IHG does not retire carbon credits or use durable removals (DAC, BECCS, etc.) as part of its inventory — confirmed 'No' for project-based credits retired in the reporting year. The firm's nature-positive activity is limited to a Mastercard/Priceless Planet Coalition partnership (2023-2025), where transactions over $50 at select US IHG hotels raised $3m supporting Conservation International's pledge to restore 100 million trees across 18 reforestation projects on six continents. This is positioned as community engagement rather than as a carbon removals strategy or offset retirement.

• Circular product design and packaging

  HP delivers innovative and sustainable devices, services and subscriptions, with subscription-based offerings such as Instant Ink Services and HP All-In Plan that support product circularity. The NGSR Committee oversees sustainability strategy including product circularity initiatives.

• Manufacturing footprint diversification

  HP accelerated supply chain footprint movement in fiscal 2025, shifting over 30% of manufacturing from China to Southeast Asia and Mexico. This is primarily a tariff-mitigation move but also affects scope 1/2 emissions geography and energy mix of operations.

• Future Ready transformation: portfolio simplification & operational efficiency

  HP's Future Ready Plan (announced Nov 2022, running through FY2025) targets digital transformation, portfolio optimization and operational efficiency. HP has reduced portfolio complexity, improved continuity of supply, and cut structural cost through headcount reductions (~7,000 roles). Savings are partly reinvested into growth areas and people.

• Product circularity & repairability

  HP cites increasing exposure to regulatory requirements around product circularity, product energy efficiency, repairability, reuse, recyclability and take-back. HP proactively evaluates and replaces materials in products and supply chain considering substances of concern, regulatory requirements and customer preferences.

• Energy efficiency measures (ECMs) in existing hotels

  IHG identifies implementing energy-conservation measures across existing hotels as a top decarbonisation lever. Five ECMs were embedded into Brand Standards in 2024: minimum chiller efficiencies, guest-room management systems, pool covers, variable-speed AHU fans, and hot-water heat pumps. Estimated savings ~70,000 tCO2e/year and ~$27m. Adoption of ECMs is part of the LTIP for Executive Directors (5% weighting), with threshold target of 80% of hotels adopting and max target 100%.

• Pioneering low-carbon new-build hotels

  The Low Carbon Pioneers programme (launched July 2024) brings together energy-efficient hotels operating with no fossil fuels combusted on-site (backup generators <5% of annual energy) backed by renewable energy. Each must obtain Green Key or LEED/BREEAM/EDGE certification within 12 months of opening. LTIP target (5% weighting): threshold 10 hotels open/under construction, max 15 hotels. Used to test, learn and share findings to inspire wider adoption.

• Water efficiency through brand-standard low-flow fixtures

  All existing hotels are required to install high-efficiency low-flow aerated showerheads and taps by end of 2025 (saving ~11 L/min showers, ~3 L/min taps). These ECMs are incentivised under the LTIP and deliver both water savings and energy savings (reduced hot-water heating). Water intensity (m³/available room) decreased 1.8% vs 2019 baseline, though absolute water footprint rose 9% YoY due to portfolio growth.

• Alternative fuel and electric vehicle deployment (RyderElectric+)

  Ryder evaluates advanced vehicle technology (AVT) including autonomous, alternative fuel, near-zero and zero-emission vehicles. Offers RyderElectric+ turnkey EV solution to customers and pilots AVTs through alliances with technology developers and OEMs. Estimated 34 tCO2e avoided emissions from electric class 2 vehicles vs diesel baseline in rental fleet.

• Fleet fuel efficiency and driver training

  Ryder implemented a mandatory fuel-efficient driver training program educating professional drivers on how to control and reduce revolutions per minute, over speeding, and idle time. Vehicle mileage drove an 81,847 mtCO2e increase in Scope 1 in 2023 reflecting higher business activity.

• Building energy efficiency (LED lighting + HVAC upgrades)

  Ryder continued converting lighting fixtures to LED across locations, achieving estimated 620 mtCO2e annual savings on Scope 2 (location and market-based) with $37,968 annual monetary savings on $562,309 investment. In 2023 also engaged building maintenance partner to replace 210 HVAC units with more efficient models.

• On-site solar PV deployment

  Over 23 MW of solar PV deployed across portfolio, with 3+ MW new commissioning in 2022 across Mexico, Malaysia, Brazil and Netherlands; targeting ~1,000 tCO2e annual reduction from new sites and plans for three more solar projects globally next year.

• Energy efficiency in buildings (HVAC, LED, BEMS)

  Aging lighting and low-efficiency heat pumps/HVAC replaced with high efficiency models and LED. Building energy efficiency projects saved 9,279 tCO2e in 2022 with $3.2M annual savings on $10.5M investment.

• Energy efficiency in production processes

  Process optimization, compressed air, motors and drives improvements saved 2,174 tCO2e in 2022 with $1.1M annual savings on $4.1M investment.

• Sustainable product design across lifecycle

  Per HP's 2022 Sustainability Report, sustainable development plans are integrated into the company's product design process, aiming to reduce the environmental impact of products throughout their entire lifecycle. HP emphasizes environmentally friendly ink and toner choices, including UL ECOLOGO-certified original ink cartridges, as part of its primary product sustainability lever.

• Supplier emissions and value chain transformation

  HP's Sustainable Impact strategy focuses on empowering customer sustainability, transforming the value chain, and advancing societal impact. HP works with a large supply chain (heavily Asia-based) and has internal supplier audit and human-rights screening programs covered under NGSR Committee oversight.

• Use-of-sold-product energy efficiency (AI PCs, ENERGY STAR)

  HP positions its portfolio of AI PCs and workstations as enabling local AI processing efficiency, and intelligent print features incorporated into home, office and graphics solutions. Customer-use emissions (scope 3 cat 11) are dominant for product OEMs like HP, and product-energy-efficiency disclosures sit within HP's sustainability reporting framework.

• Climate transition risk in product portfolio

  HP acknowledges transition risks including shifting customer preferences and carbon pricing regulations. Failure to manage transition risks could diminish customer demand. HP expects continued compliance burdens and indirect costs from suppliers passing on compliance costs.

• Franchise hotel energy decarbonisation (Scope 3 cat 14)

  Franchise hotels represented 73% of IHG's hotel rooms in 2024 and ~52% of total emissions (3.4 MtCO2e of 6.5 Mt). IHG has no operational control over these, so decarb relies on indirect levers: brand standards, IHG Green Engage data platform (mandatory monthly reporting), Hotel Energy Reduction Opportunities (HERO) tool, and General Manager performance plans tied to energy reduction. The asset-light model and franchisee small-business constraints (limited credit access, no equivalent regulatory pressure) are cited as the biggest barrier to hitting the 2030 SBT.

• Supplier engagement via EcoVadis and HARP

  IHG is a founding member of the Hospitality Alliance for Responsible Procurement (HARP, 2023). Partnered with EcoVadis to assess 188 suppliers globally on working conditions, energy/GHG, biodiversity and forests. In 2024 IHG kick-started a decarbonisation learning plan for high-emitting suppliers including a webinar, and began piloting supplier audits in Americas and EMEAA. All new corporate suppliers must accept the Supplier Code of Conduct, which sets expectations to reduce energy/GHG, water, plastic waste, and support biodiversity.

• Supplier ESG & responsible sourcing requirements

  HP requires environmentally, socially and legally responsible practices and sourcing from suppliers, including sub-tier sourcing, citing risks to brand and compliance from supplier non-conformance. Supplier finance programs and supply-chain diversification are being used to manage risk.

• Tire retreading and waste recycling with suppliers

  Ryder works closely with automotive waste suppliers to re-use or recycle to divert landfill disposal. In 2023 sent 302,186 used tires for retreading via long-standing tire retread program with tire providers. Engaged key non-automotive waste management provider in 2023 to identify opportunities to reduce recycling contamination.

• Customer supply chain decarbonisation (route optimization + intermodal)

  Ryder collaborates with customers on emissions reduction including facility updates, route optimization, technology pilots, waste reduction. For CDP Supply Chain members like HP, Ryder offers intermodal shipment increases, SmartWay certified carriers prioritization, and alternative fuel vehicles (renewable natural gas vehicles from Loadsmith). RyderVentures invests in next-generation vehicles and supply chain technology startups.

• Supply chain stakeholder protection and ICT benchmark performance

  HP states long-term commitment to ensuring all stakeholders across the entire supply chain are protected. HP ranked second in the 2023 ICT (Information and Communication Technology) company benchmark on seven categories including commitment and governance, traceability and risk assessment, procurement practices, recruitment, employee voice, and monitoring/remedial measures.

• Supplier engagement and SBT cascade

  Flex requires 50% of preferred suppliers to set GHG reduction targets by 2025 and 100% by 2030. 2022 engagement included 20 webinars, 49+ one-on-one CDP support sessions, training of 1,567 supplier personnel from 680 suppliers, and 244 audits. 35% of preferred suppliers had set GHG targets at end of 2022.

• Customer SBT engagement

  Target that 70% of customers by emissions covering purchased goods, capital goods and use of sold products will have SBTs by 2025. 64% achieved in 2022. Engagement via quarterly business reviews and shared TCFD/CDP frameworks.

• Circular economy (refurbishment, repair, ECO2 calculator)

  Flex aims to be top global provider of circular economy solutions. 2022 refurbishment and remarketing reduced CO2e by up to 90% vs new products and 70% via parts harvesting. 7 sites had zero-waste certifications by end of 2022 (Wuzhong reached gold 95-99% diversion). Launched ECO2 calculator (FY21) for customers to measure embedded carbon; circular economy revenue ~$45M.