Walmart on Thursday revealed that the global financial crisis has not slowed its commitment to sustainability and that it is “aggressively” moving its sustainability initiative forward.
As part of the initiative, the world’s largest retailer in July asked its 100,000-plus suppliers worldwide — including seafood suppliers — to fill out a 15-question survey rating their sustainability efforts so that it can assemble a single database for evaluating the sustainability of its products, called the Sustainable Product Index.
Walmart asked its top-tier suppliers to complete the survey by 1 October and is working with other suppliers to determine an appropriate timeline. Its ultimate goal is to provide its customers with product eco-ratings so that they can make sustainably-minded purchasing decisions.
In a live webcast from its Bentonville, Ark., headquarters on Thursday, Walmart assured participants that its Sustainable Product Index is on track.
“We are aggressive on the goals we have set,” said Leslie Dach, Walmart’s executive VP of corporate affairs. “In order for this to work, this must be a broader initiative that is adopted around the world.”
“Let’s challenge ourselves to drive this faster and more effectively,” added Walmart President and CEO Mike Duke. “The world wins. Our business wins. Our customer wins.”
During the webcast, Walmart executives provided several examples of ways it is reducing waste, improving logistics and raising food in a more environmentally and socially responsible manner; pizza and bananas were among the products mentioned.
Though seafood was not brought up during the webcast, WalMart said earlier this year that it will purchase all wild fish from Marine Stewardship Council-certified fisheries by 2011 and will work with the Global Aquaculture Alliance and Aquaculture Certification Council to certify that all of its foreign shrimp suppliers adhere to Best Aquaculture Practices standards by 2011.
As of 31 January, 49 percent of the seafood sold at U.S. Walmart stores, in terms of volume, has received either MSC or ACC certification.
“Companies can really do well financially by focusing on doing good,” said Duke during Thursday’s webcast. “When you see something that is working well don’t you want to go after it even more?”
Also on Thursday, Walmart released its third-quarter results, including a 3.2 percent increase in profit, to USD 3.24 billion (EUR 2.18 billion), and a 1.1 percent jump in revenues, to USD 99.4 billion (EUR 66.9 billion).
