Walmart has a plan to tackle the climate crisis. Can it pull it off?
Walmart is attempting to erase its huge climate footprint while continuing to sell tens of millions of low-priced products
Kyla Mandel, The Guardian
13 Sep 2021
Every day a seemingly never-ending stream of toothbrushes, toilet paper, tape, thumbtacks, toys and other products criss-cross the globe from a network of suppliers to Walmart’s more than 10,500 stores.
The retailer, which was for many years the biggest in the world until Amazon took its crown in August, has a supply chain almost unfathomably complex. And it comes with a huge carbon footprint. In 2019 the company emitted 17.56m metric tons of greenhouse gases.
Walmart has declared its mission to tackle these climate impacts, which means focusing on every part of the chain – from the electricity sourced in its stores to the palm oil in the candy bars sold on its shelves. But while some experts celebrate the scale of the retailer’s efforts, others wonder whether they go far enough.
Over the past years, Walmart has come out with a slew of climate promises. In 2017, it launched “Project Gigaton”, pledging to cut 1bn metric tons of carbon emissions from its supply chain by 2030. Last year it announced a goal to reach zero emissions from its global operations by 2040 without relying on carbon offsets – where companies “cancel out” some of their impact by funding projects that reduce carbon emissions. It’s also promised to be a 100% renewably-powered, zero waste and “regenerative” corporation that does more good than harm...
An epiphany ...
‘We don’t know exactly how we’ll get there yet’ ...
Retail role model? ...
Buying time ...
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Walmart, GlobeNewswire Probe Hoax Tying Retailer to Crypto Deal
· Fake statement spurs Litecoin surge before retailer’s denial
· Debacle shows risk in one of hottest corners of the markets
By Brendan Case and Vildana Hajric, Bloomberg
September 13, 2021
Walmart Inc. and a press-release distributor rushed to investigate a hoax tying the retailer to a supposed cryptocurrency deal after a false announcement sent a short-lived surge through a highly unregulated market.
According to the inauthentic press release on GlobeNewswire at 9:30 a.m. in New York, Walmart was about to start letting its customers pay with Litecoin, which is the 16th largest cryptocurrency by market capitalization according to the website CoinMarketCap.com. While the statement wasn’t true, Walmart has expressed interest in cryptocurrencies and advertised a job opening earlier this year to develop a blockchain strategy.
Within an hour, the retailer denied the statement, erasing most of a 33% surge in Litecoin and sending a shudder through the broader cryptocurrency market. A verified Twitter account for Litecoin news deleted a tweet linking to the press release after it became clear that the announcement was fake, said Charlie Lee, creator of Litecoin and managing director of the Litecoin Foundation.
“What happened was someone obviously created this fake news and got it on the GlobalNewswire,” Lee said by phone...
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