Walmart Gives Carbon Stance Update With First ESG-Dedicated Report

By Maitane Sardon

Walmart Inc. (WMT) released its first dedicated environmental, social and governance report after receiving calls from stakeholders to provide a concise view of its ESG priorities, a move that reflects the mounting pressure placed on companies to increase transparency over their practices.

The global retail giant, which has made disclosures on its sustainability practices since 2005, said Wednesday the report offers a focused update on how it is approaching issues involving carbon emissions, its impact in local communities and workers in its supply chain.

"Walmart's new report is a reminder of the importance of ESG information to the global investor community and the crucial role of big businesses in promoting sustainable business practices throughout their entire organizations," said Bronagh Ward and Anuj Shah of KKS Advisors, a global consulting firm. "It sends a clear message that environmental, social and governance issues are core to business strategy and growth."

Walmart said ensuring economic opportunities for its employees, the safety and livelihoods of workers in its supply chains, and climate change, are the main ESG issues it is addressing. The company said it continues to engage with stakeholders to determine ESG priorities and targets.

"Through ESG initiatives, our goal is not only minimizing our own footprint or mitigating risk, but to inspire collective action to help transform the sector for long-term environmental, social and economic sustainability," said Walmart chief sustainability officer Kathleen McLaughlin.

In 2016 Walmart became the first retailer to set a greenhouse gas emission reduction target in line with climate science.

Independent nonprofit CDP has also called Walmart a global leader in supply chain transparency. CDP, which helps companies and government entities measure and manage environmental impacts, has 115 supply chain members representing a combined purchasing power of $3.3 trillion.

Write to Maitane Sardon at [e-mail]

(END) Dow Jones Newswires

May 08, 2019 14:29 ET (18:29 GMT)

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