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Walmart reduced GHG emissions by 6.1%

11
May '19
Pic: Walmart
Pic: Walmart
Walmart has reduced Scopes 1 and 2 annual greenhouse gas emissions by 6.1 per cent in 2017 compared with 2015. The company also reports progress in its Project Gigaton goals with suppliers avoiding more than 93 million metric tons of emissions over the last two years. This is stated in the company’s Environmental, Social and Governance (ESG) Report.

Launched in 2017, Project Gigaton is a global effort that invites suppliers to join Walmart in a commitment to avoid 1 billion metric tons of emissions in the company’s collective value chains by 2030.

The inaugural ESG Report details the company’s goals, progress and achievements for fiscal year 2019 toward its commitment to increase economic opportunity for associates and local communities, build sustainability in supply chains and activate climate change initiatives.

Walmart worked with an independent third-party consultant to better understand the nature of climate change and potential implications for the retail sector aiming to align with the scenario guidance set forth by the Task Force on Climate-related Financial Disclosures.

As part of Walmart’s goal of being supplied by 50 per cent renewable energy by 2025, 28 per cent of Walmart’s electricity needs are supplied by renewable sources.

In 2018 in the US, Walmart diverted 81 per cent of unsold products, packaging and other waste materials from landfills. Walmart also recycled more than 430 million pounds of plastic film and rigid plastics globally.

The ESG Report includes a discussion of salient human rights issues and progress on related initiatives within the company and through collective action, building on the human rights statement the company published last year bringing together in one place the company’s perspective on respecting human rights in its operations and supply chains.

To help address worker safety issues in the Bangladesh ready-made garment industry, Walmart became a founding member of the Alliance for Bangladesh Worker Safety in 2013. The Alliance concluded its five-year commitment on December 31, 2018. There has been significant progress, including 90 per cent of high-priority remediation items completed across all factories affiliated with the Alliance.

As of the end of FY2019, Walmart achieved a supplier Sustainability Index participation rate that covers 80 per cent of the goods Walmart sells in US stores and Sam’s Club locations for categories where the Sustainability Index is available.

“It’s not enough to just serve one stakeholder group, the opportunity for business and their leadership is to add value for all stakeholders,” said Doug McMillon, CEO of Walmart. “Throughout Walmart’s history, we have understood that for a business to last, it must have a fundamental reason for being, which is found in the value it creates for all – customers, associates, communities, shareholders, suppliers, future generations, and the planet.”

“Through ESG initiatives, our goal is not only minimising our own footprint or mitigating risk, but to inspire collective action to help transform the sector for long-term environmental, social and economic sustainability,” said Kathleen McLaughlin, Walmart’s chief sustainability officer. “We’re engaged in efforts to source responsibly, create economic opportunity for retail associates and people working in supply chains, take action on climate change, and help improve sustainability of the products we sell. We believe business exists to serve society, and that when business engages to be part of the solution not only can we help accelerate progress in the world, we make our business better, too.”

Walmart’s ESG report is a newly-focused and streamlined update on how the company approaches key issues facing society and initiatives across its business segments that make a difference in both the communities it operates and the world. In addition to the ESG report, Walmart has also released its annual update on ethics and compliance which focuses on enhancements the company has made to its Global Ethics and Compliance Programme over the years. (SV)

Fibre2Fashion News Desk – India


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