Wal-Mart unveils huge greenhouse cuts
New York: Wal-Mart, the world's biggest company, Thursday announced it will cut 20 million metric tons of greenhouse gas emissions from its global supply chain by the end of 2015.
The cut amounts to taking more than 3.8 million cars off the road for a year, the world's top retailer said in a statement.
With over 8,400 super stores in 15 countries, Wal-Mart reported sales of $405 billion in 2009. Headquartered at Bentonville in America's Arkansas state, the global retail giant employs over two million people. Currently valued at $208 billion, it operates under 53 different banners in the US and around the world.
Renewing it pledge to cut greenhouse gases, the company said its commitment to cut 20 million metric tons of greenhouse gases is one and a half times bigger than its estimated global carbon growth over the next five years.
Wal-Mart's commitment shows that "energy efficiency and carbon reduction are central issues in the world today,'' president and CEO Mike Duke said in the statement.
"We've been working to make a difference in these areas, both in our own footprint and our supply chain. We know that we have an opportunity to do more and the capacity to do more,'' the Wal-Mart boss said.
Since greenhouse emissions from its global supply chain are many times larger than its operational emissions, Wal-Mart said its pledge represents 'a more impactful opportunity' to reduce emissions.
"Reducing carbon in the life cycle of our products will often mean reducing energy use. That will mean greater efficiency and, with the rising cost of energy, lower costs, making our business stronger and more competitive,'' Duke added.
Fred Krupp, president of Environmental Defense Fund which is guiding Wal-Mart on cutting carbon emissions, said, "Today the world's largest company begins a global race for carbon pollution cuts.
"Wal-Mart's bold move will help companies identify steps to slash pollution and costs. As this story unfolds, it will transform a vast supply chain here at home, and around the world.''