Walmart Aims to Reach Zero Carbon Emissions by 2040 - TheStreet

Walmart Aims to Reach Zero Carbon Emissions by 2040

Walmart aims to reach zero carbon emissions by 2040 and plans to restore at least 50 million acres of land and one million square miles of ocean by 2030.
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Walmart  (WMT) - Get Report said it was upping its fight to protect the environment with an aim to end emissions from global operations by 2040.

As part of its plan, the Bentonville, Ark., big-box retailer expects to use 100% renewable energy by 2035. Walmart earlier said it aimed to use 50% renewable power in its operations by 2025. 

The company also unveiled plans to restore at least 50 million acres of land and one million square miles of ocean by 2030 to "help combat the cascading loss of nature threatening the planet."

"We want to play an important role in transforming the world’s supply chains to be regenerative," Chief Executive Doug McMillon said in a statement. 

Walmart said the proposed moves are designed to help avoid the worst effects of climate change. 

Those moves include harvesting wind, solar and other renewable-energy sources to power its facilities; electrifying and zeroing out emissions from all its vehicles; and transitioning to low-impact refrigerants for cooling. 

Last week, Walmart rival Amazon  (AMZN) - Get Report named the first four recipients of venture capital funds from the $2 billion it set up to help companies develop clean energy technologies. 

Amazon has pledged to have net zero emissions by 2040, meaning that any carbon emissions it does place into the atmosphere would be offset by removing the same amount through a carbon removal process. 

Walmart says it hopes to reach zero emissions without the use of carbon offsets. 

Walmart shares at last check were 0.7% at $136.29. 

The company also said that it and Oracle  (ORCL) - Get Report agreed to take a collective 20% stake in TikTok Global, a new company carved out of Beijing-based ByteDance that would include all operations outside China.

Amazon shares were down 1.7% near $2,904.