Walmart's Sustainable Initiatives Challenge Other Retailers
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Walmart's Sustainable Initiatives Challenge Other Retailers
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Summary: Retail giant Walmart has adopted ambitious sustainability initiatives that are slowly but surely making a difference in the way goods are produced, sourced, and sold. The company's progress in sustainable textile production and eco-conscious supply chain is making a good example for other retailers to understand and develop more sustainable trade practices as well. Explore some of Walmart’s best sustainable trade initiatives that are relevant to fashion companies and can encourage the fashion industry to adopt similar sustainable methods.
The American multinational retail corporation Walmart has been in the public eye for striving to achieve a completely sustainable supply chain. While not all of its efforts have paid off on the very first try, the retail giant is learning from its defeats and coming back stronger with better solutions to reach its sustainability goals. The company’s constant efforts to make the ways goods are produced, sourced and sold more sustainable also challenge the way other retailers do business.
These sustainable initiatives taken on by Walmart are urging other retail giants to do the same or better. Even in the textile and gadget production space, Walmart has shown progress in achieving a greener supply chain that has less to no impact on the environment. Here’s how fashion companies can get inspired by Walmart’s sustainability initiatives.
How Walmart Began Its Commitment To Sustainability?
In 2005, Walmart declared publicly that the company aims to become more committed to achieving sustainability within its supply chain through its initiative called Sustainability 360. This sustainable business initiative focuses on reducing the company’s carbon footprint. The initiative also encourages its manufacturers, suppliers, distributors, and other stakeholders within its supply chain, including its customers around the world, to reduce its carbon footprint as well.
Ever since then, Walmart has made changes to reach its sustainability goals. The company has begun sourcing its energy supply from renewable sources. It has also worked towards attaining zero waste in its supply chain and opted to sell products that help sustain the environment.
Walmart’s Aim To Create A Sustainability-Driven Supply Chain
Walmart reached out to its external stakeholders within its supply chain to get them on the sustainability train. The retail giant began by first identifying the areas that are responsible for the maximum of the company’s environmental impact. After identifying these areas, the corporation then went on to invite the stakeholders associated with those areas to join in on their sustainable value networks to work towards bringing on environmental sustainability in those areas.