Walmart will reduce its carbon emissions to zero over the next 20 years, the company said Monday.
The world's largest retailer announced it will reduce its global emissions to zero by 2040, and by 2030 it will protect, manage or restore at least 50 million acres of land and 1 million square miles of ocean.
“We want to play an important role in transforming the world’s supply chains to be regenerative. We face a growing crisis of climate change and nature loss and we all need to take action with urgency,” Doug McMillon, president and chief executive officer, Walmart, Inc. said in a statement.
Walmart says it will hit its goal of zero global emissions by powering its facilities with 100% renewable energy by 2035 and by 2040 it will use all-electric vehicles with zero emissions and adopt more environmentally friendly systems for cooling and heating across the company's buildings.
“For 15 years, we have been partnering to do the work and continually raising our sustainability ambitions across climate action, nature, waste and people. The commitments we’re making today not only aim to decarbonize Walmart’s global operations, they also put us on the path to becoming a regenerative company – one that works to restore, renew and replenish in addition to preserving our planet, and encourages others to do the same," McMillon said.
The retailer's goal will cut emissions from its own operations (scope one and scope two emissions), which account for about 5% of the company's total emissions, Bloomberg says. Scope three emissions, which are emissions generated by its supply chain and its customers that a company can't directly control, account for about 95% of Walmart's carbon footprint and are not included in this plan.
Walmart is working to address emissions in its supply chain through Project Gigaton, but it hasn't set a net-zero goal. Walmart launched Project Gigaton in 2017, encouraging its suppliers to make a commitment to avoid 1 billion metric tons of greenhouse gas emissions by 2030 – that's equal to taking 211 million passenger vehicles off the road for a whole year.
Walmart says more than 2,300 suppliers have signed on to Project Gigaton and they have reported a total of 230 million metric tons of avoided emissions.