Wal-Mart to Reduce Packaging

Wal-Mart (WMT Quote) said Friday it will launch an initiative to reduce its overall packaging by 5% over five years.

The retailer predicts the initiative, scheduled to begin in 2008, will reduce overall packaging by 5% and that reduction in 10% of the global packaging industry will result in $10.98 billion in savings. "Wal-Mart alone is poised to save $3.4 billion," the company said.

Under the five-year plan, the Wal-Mart will measure its 60,000 worldwide suppliers on their ability to develop packaging and conserve natural resources. ...