Best ESG reporting (small to mid-cap) Hewlett Packard Enterprise
At the center of Hewlett Packard Enterprise’s (HPE) ESG reporting is its annual Living Progress Report. Among other things, the report explains how HPE focuses its ESG implementation efforts around six UN Sustainable Development Goals representing the highest priorities for its business, employees and other stakeholders: gender equality; affordable and clean energy; decent work and economic growth; industry, innovation and infrastructure; responsible consumption and production; and climate action.
The report is accompanied by a data summary tailored to analysts by supplying key metrics such as HPE’s climate targets, environmental impact, workforce demographics and supply-chain performance and responsibility. The firm also hires an external assurance provider to conduct an independent review of selected KPIs in this summary.
Monica Batchelder, HPE’s chief sustainability officer, says that in addition to having external assurance, the company is starting to get the internal audit function to assess key ESG data with the goal of having the same level of confidence it has in its financial data.
A materiality assessment completed in February 2022 by an external party addressed changes in HPE’s business, corporate sustainability reporting, investor and other stakeholder ESG information needs and best practices outlined by organizations such as the GRI and SASB. Unlike previous iterations, the 2022 assessment adopted a double-materiality definition, which assesses materiality of impact not only on the business’ financial performance but also on society and the environment.
HPE’s sustainability and compliance mailbox responded to more than 2,300 inquiries from customers and sales representatives during the awards period. In addition, the firm's year-round engagement with its shareholders and other stakeholders heavily features ESG matters: the 2022 proxy statement features expanded ESG disclosures, including details of beefed-up board oversight of such ESG risks as diversity, equity and inclusion, talent retention, climate change and human rights.
Among other things, HPE’s approach to managing climate-related risks – from regulatory risks and physical risks to operations and manufacturing – is also addressed in its Form 10K report.