BEIJING, Oct. 25, 2012 /PRNewswire/ -- Walmart today further strengthened its commitment to a sustainable global supply chain by announcing a series of initiatives to make the company's supply chain in the United States, China and around the world more sustainable. At an event in Beijing with government officials, nongovernmental organizations (NGOs), academics, suppliers and company associates, Walmart said the company will use the Sustainability Index to design more sustainable products, make its global supply chain more socially and environmentally accountable and responsible, and incentivize merchants to make sustainability a bigger part of their day-to-day jobs.
"Today I'm proud to announce a series of steps and commitments that will make Walmart's supply chain, in the United States, here in China, and around the world, more sustainable," said Mike Duke, President and CEO, Wal-Mart Stores, Inc. "The impact of these commitments will be global and make a difference with products sold around the globe."
"Walmart and the Chinese Government, along with local NGOs and suppliers, have worked together and independently to find new solutions and models for sustainable growth," said Gary Locke, U.S. Ambassador to China. "Today's announcement will help accelerate the good work under way to make affordable and sustainable consumer goods more accessible here in China and around the world."
The additional initiatives announced at today's event will build on the broader sustainability goals Walmart set at the China Sustainability Summit in 2008. The commitments outlined today include:
- By the end of 2017, Walmart will buy 70 percent of the goods it sells in U.S. stores and in U.S. Sam's Clubs only from suppliers in the United States, China and around the world who use the Index to evaluate and share the sustainability of their products. This change will involve suppliers who produce goods in categories where the Index is available.
- Beginning in 2013, Walmart will use the Sustainability Index to influence the design of its U.S. private brand products.
- Walmart will change the way its key global sourcing merchants are evaluated so that sustainability becomes an even more important part of buyers' day-to-day jobs. Beginning in 2013, these buyers will join key buyers in Walmart U.S. and Sam's Club who already have specific sustainability objectives on their annual evaluations.
- The Walmart Foundation will grant $2 million to fund The Sustainability Consortium (TSC) and assist in its efforts in launching TSC in China . TSC is an independent research organization. Using the Walmart Foundation grant, TSC China will engage industries, universities and other experts to form a global network of leaders improving sustainability in consumer goods, and will provide tools and resources to help suppliers become more sustainable and competitive. Walmart will use the results of TSC's independent work to refine its Sustainability Index for use in China.
- Nearly 95 percent of direct-import factories have received one of the two highest audit ratings for environmental and sourcing practices.
- 195 factories have improved their energy efficiency by 20 percent as of July 2012, and the top 200 factories are expected to improve their energy efficiency by 20 percent or more by the end of 2012.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV