Wal-Mart CEO Lee Scott Unveils â€œSustainability 360â€
London, February 1, 2007 â€“ As the keynote lecturer at the Prince of Walesâ€™s Business and the Environment Programme, Wal-Mart Stores, Inc. (NYSE: WMT) President and CEO Lee Scott today unveiled
â€œSustainability 360â€ â€“ a company-wide emphasis on taking sustainability beyond reducing the companyâ€™s direct environmental footprint to engaging Wal-Martâ€™s associates, suppliers, communities and customers.
â€œSustainability 360 takes in our entire company â€“ our customer base, our supplier base, our associates, the products on our shelves, the communities we serve,â€ said Scott.â€œAnd we believe every business can look at sustainability in this way.
In fact, in light of current environmental trends, we believe they will and soon.
â€ As an example of this way of working, Scott also announced the companyâ€™s intention to introduce â€œGlobal Innovation Projectsâ€ â€“ one of which is a challenge for Wal-Mart associates and suppliers to start thinking about how to remove non-renewable energy from the products the company sells.
â€œPerhaps the most far-reaching opportunity we have with our suppliers is a simple idea with potentially profound consequences,â€ said Scott. â€œJust think about this:
What if we worked with our suppliers to take non-renewable energy off our shelves and out of the lives of our customers? We could create metrics and share best practices so our suppliers could make products that rely less and less on carbon-based energy.â€
Recognizing ASDAâ€™s longtime leadership in sustainability, Scott highlighted how initiatives taking place at Wal-Martâ€™s operations in the United Kingdom fit this idea, including reducing packaging on food products by 25 percent and selling more energy efficient light bulbs than standard bulbs by 2008.
Addressing the different planks of â€œSustainability 360,â€ Scott highlighted Wal-Martâ€™s initiative to work with suppliers to reduce packaging by five percent by 2013 â€“ an effort that will be equal to removing 213,000 trucks from the road, and saving approximately 324,000 tons of coal and 67 million gallons of diesel fuel per year.
He also talked about the companyâ€™s goal to develop partnerships that help suppliers run more sustainable businesses and factories. Focusing on Wal-Martâ€™s work to reach out to communities around the globe, Scott discussed efforts to promote sustainable practices when entering new markets.
The companyâ€™s effort to make environmentally friendly products more affordable and available to customers aligns with Wal-Martâ€™s purpose to save people money so they can live better lives.
Emphasizing that sustainability is consistent with the companyâ€™s culture, Scott also discussed the integral role that associates play in helping Wal-Mart reach its objectives.
Scott acknowledged that the journey to a sustainable corporation is long, but stressed all businesses have a role to play.
â€œWe all have an opportunity to be more sustainable. But even more, we have a responsibility. We need to be sustainable companies and countries made up of people who live sustainable lives. If we do that, if we do it throughout the coming decades, I believe we will make sustainabilityâ€¦ sustainable.
And this generation will leave a healthier humanity and a healthier planet to future generations.
â€ The Business and Environment Programme was hosted by the Prince of Wales and attended by government representatives, officials from non-governmental organizations and business executives.
The biennial lecture is the largest and longest-running executive learning program in the world on sustainable business.
For a full text of the lecture, please visit www.walmartfacts.com.