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Walmart Inc., the world’s largest retailer, expects to miss short-term climate targets as issues including the availability of low-cost clean technologies slow the task of cutting emissions.
Previous pledges to reduce operational greenhouse gas emissions by 65% by 2030 and 35% by 2025 are probably not achievable, and the company will consider reviewing its climate targets next year.
“We anticipate achieving our near-and mid-term emissions reduction targets later than our 2025 and 2030 target dates,” the company said in a statement dated Wednesday. The firm’s operational — or scope 1 and scope 2 — emissions rose almost 4% in 2023 from the previous year on business growth and other factors, Walmart said.
Walmart in November pulled back on some diversity, equity and inclusion initiatives, and follows firms including the Coca-Cola Company and Air New Zealand Ltd. in retreating from climate and sustainability pledges.
President Joe Biden on Thursday outlined a target for the US to reduce planet-warming pollution by at least 61% over the next decade, calling on companies, cities and states to continue investment and action, even if Donald Trump’s administration leads the federal government to back off.
Walmart will continue to target a goal to have zero operational emissions by 2040, though achieving that threshold “depends not only on our own initiatives but also on factors beyond our control,” the company said.
Curbing emissions relies on policies and infrastructure across global markets, the availability of low-cost technology to curb the climate impact of refrigeration and HVAC systems, and on the emergence of less polluting solutions for heavy tractor transportation, according to the statement.
By David Stringer
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