Reportedly, Walmart Stores, Inc. (WMT) unveiled a project aimed at cutting emissions in a tie-up with the U.N. group COP26 High-Level Climate Action Champions, and the business organization the World Business Council for Sustainable Development along with other retailers H&M, Ikea, and Kingfisher plc. The initiative billed the “Race to Zero Breakthroughs,” focuses to reduce emissions to reduce the rise of global temperatures to within 1.5 degrees, according to the groups.
“The imperative to take action to limit warming to 1.5 degrees Celcius has never been higher. Despite bold actions from some leading retail brands, a decarbonization pathway for the sector is notably absent, with only 5 percent of retail businesses — by total global industry revenues — having committed to taking action to limit global warming in accordance with the Paris Agreement goals,” stated the U.N. Climate Champions group.
Recently, Walmart Inc.’s CEO Doug McMillon also expressed the retailer’s aim of achieving zero emissions across its operations by 2040. The retailer has previously emphasized its efforts to target its supply chains and also push suppliers toward reporting their own lowered emissions.
Walmart’s Project Gigaton campaign aims to avoid some 1 billion metric tons of emissions by 2030, and says that its suppliers have so far reported a “cumulative 375 million metric tons of avoided emissions.” As per Walmart’s website, more than 2,300 suppliers have joined the effort since it began in 2017.
Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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