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HP Recognized as Top U.S. Company for Reporting Social and Environmental Impact
Ranked No. 8 among the world's 100 largest companies in new global index
PALO ALTO, Calif., June 24, 2004
HP today announced that it was ranked No. 8 overall in the Accountability Rating, the first global index that evaluates how well the world's 100 largest companies account for their impacts on society and the environment. HP was the only U.S. company ranked in the top ten.
Developed by AccountAbility and csrnetwork, the Accountability Rating measures the state of corporate accountability by ranking individual companies on their global sustainability reporting performance in six key areas: stakeholder engagement, strategy, governance, performance management, public disclosure and assurance.
"Global citizenship is a company-wide business objective at HP, and we are continually integrating our citizenship efforts into our core business practices. We believe we can achieve this goal by aligning our business strategy and our global citizenship strategy, so that while everything we do is good for business, it is also good for society and the environment," said Debra Dunn, senior vice president of corporate affairs and global citizenship, HP.
Global citizenship at HP is focused on three priorities: addressing electronic waste, raising standards in its global supply chain, and increasing access to information technology. More information on HP's global citizenship efforts is available in HP's 2004 Global Citizenship report at http://www.hp.com/go/report.
"The Accountability Rating moves us beyond a narrow focus on reporting ad-hoc non-financial activities, to one that illuminates the links with business strategy, performance and long-term value creation," said Simon Zadek, chief executive officer, AccountAbility. "It is of interest to note that only one U.S. company, HP, features among the top ten highest scorers. HP featured particularly well in terms of stakeholder engagement, performance management and public disclosure."
The Accountability Rating assists companies and stakeholders in improving their overall performance and ensuring that accountability informs performance, rather than providing data after the fact. Full details of the methodology and results of the Accountability Rating are available at http://www.accountability.org.uk.
About HP
HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. For the four fiscal quarters ended April 30, 2004, HP revenue totaled $76.8 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
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