Walmart is the world’s largest company by revenue, with about US$570 billion in annual revenue, is planning to get 100% green.
Walmart Inc. has announced $2 billion green bond offering to fund projects to advance Walmart’s sustainability goals.
“The closing of our first-ever green bond offering directs capital toward projects that will advance our environmental sustainability goals now and in the years to come. These goals include achieving 100% renewable energy by 2035 and zero emissions in our operations by 2040,” said Kathleen McLaughlin, Executive Vice President and Chief Sustainability Officer, Walmart. “Becoming a regenerative company is a journey. This green bond signals that we continue to make headway. We remain steadfast in our commitment to addressing climate change, transitioning to a circular economy and restoring natural ecosystems, all while supporting the communities in which we operate.”
Walmart Inc. helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity.
Walmart added the most solar of any company in the U.S., increasing our solar use by more than 35%. This growth in solar was driven by several large offsite solar projects added to our long history of using solar at our facilities. And according to the EPA Green Power Partnership Top 30 Retail Ranking, Walmart was the top retailer in terms of annual green power usage in the U.S. in 2020.
These recent strides have moved us closer to meeting our goals. In 2020, renewable sources supplied an estimated 36% of our electricity needs globally. To date, our actions will have helped to bring more than three gigawatts of new renewable energy capacity to power grids since 2008. As of the end of 2020, we had more than 550 onsite and offsite projects in operation or under development in eight countries, 30 U.S. states and Puerto Rico.
Last year, the renewable energy supplied by our projects globally grew to over 4 billion kWh, and we’re not planning on slowing down.
Beyond our efforts to scale renewable energy for our own operations, we’re encouraging our suppliers to take action in theirs through Project Gigaton, our initiative to avoid a gigaton of greenhouse gas emissions from our global supply chain by 2030. In September 2020, in collaboration with Schneider Electric, we launched Gigaton PPA™ to help engage our suppliers in accessing renewable energy purchases and accelerating greater renewable energy adoption.
Securing innovative, scaled energy transactions is another solid step toward our goal of being powered by 100% renewable energy by 2035 and achieving zero emissions across our operations by 2040. With a mixture of infrastructure and innovation, we can set an example for what one company can do to move toward a cleaner future.
