Dive Brief:
- Wal-Mart Stores Inc. has updated its sustainability plan, building on the original goals the retailer announced in 2005, Food Business News reported.
- These sustainability goals cover various sectors of its supply chain, ranging from doubling the sales of locally grown produce and improving the sustainable sourcing of key commodities to using 100% recyclable packaging for its private brands by 2025.
- The retailer has also committed to sourcing half of its energy from renewable sources by 2025. It pledges to reduce greenhouse gas emissions in its own operations by 18% by 2025, and by 1 gigaton in its suppliers by 2030.
Dive Insight:
With these smaller, varied goals in mind, Wal-Mart's overarching goal is to "become the world’s most affordable retailer of safe and healthier foods by 2025 and we are going to be transparent about it,” CEO Doug McMillon said during a presentation at the Net Impact Conference earlier this month.
That's a bold goal, even for a retailer as massive as Wal-Mart, and it's unclear how other retailers will be able to keep up. Wal-Mart, as the world's largest retailer, likely has the capital to invest in these initiatives. Smaller retailers may not have the funds, capability or relationships to make and adhere to the same commitments.
But that hasn't stopped other retailers from making sustainability goals and plans of their own. Earlier this month, Albertsons announced an expanded responsible seafood sourcing program, which includes "a large-scale ‘Top 20 by 2022’ goal for fresh and private-label frozen seafood, whereby 100 percent of the top 20 wild and farmed seafood products sold at Albertsons Companies’ stores will meet the Responsible Seafood Policy by year-end 2022," according to a news release.