Walmart Gives Carbon Stance Update With First ESG-Dedicated Report
May 08 2019 - 2:44PM
Dow Jones News
By Maitane Sardon
Walmart Inc. (WMT) released its first dedicated environmental,
social and governance report after receiving calls from
stakeholders to provide a concise view of its ESG priorities, a
move that reflects the mounting pressure placed on companies to
increase transparency over their practices.
The global retail giant, which has made disclosures on its
sustainability practices since 2005, said Wednesday the report
offers a focused update on how it is approaching issues involving
carbon emissions, its impact in local communities and workers in
its supply chain.
"Walmart's new report is a reminder of the importance of ESG
information to the global investor community and the crucial role
of big businesses in promoting sustainable business practices
throughout their entire organizations," said Bronagh Ward and Anuj
Shah of KKS Advisors, a global consulting firm. "It sends a clear
message that environmental, social and governance issues are core
to business strategy and growth."
Walmart said ensuring economic opportunities for its employees,
the safety and livelihoods of workers in its supply chains, and
climate change, are the main ESG issues it is addressing. The
company said it continues to engage with stakeholders to determine
ESG priorities and targets.
"Through ESG initiatives, our goal is not only minimizing 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 Walmart chief sustainability
officer Kathleen McLaughlin.
In 2016 Walmart became the first retailer to set a greenhouse
gas emission reduction target in line with climate science.
Independent nonprofit CDP has also called Walmart a global
leader in supply chain transparency. CDP, which helps companies and
government entities measure and manage environmental impacts, has
115 supply chain members representing a combined purchasing power
of $3.3 trillion.
Write to Maitane Sardon at Maitane.Sardon@dowjones.com
(END) Dow Jones Newswires
May 08, 2019 14:29 ET (18:29 GMT)
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