Walmart Contributes $1.42B to Advance ESG Commitments
(3BL Media/Justmeans) – Several studies over the last few years have revealed that businesses that maintain robust ESG standards command lower capital costs, higher profitability, and superior shareholder returns. A Harvard study published in Management Science in 2014 showed that more sustainable companies consistently outperformed the ones that lacked in ESG commitment.
Walmart has followed a “whole systems” approach to continue advancing its commitments to improving sustainability, strengthening communities, and creating economic opportunity for associates and others. In FY2016, Walmart and the Walmart Foundation donated more than $1.42 billion in cash and in-kind contributions to support extensive social and environmental work.
In FY16, Walmart gave grants totaling $39 million in support of the Retail Opportunity Initiative, which aims to increase upward mobility of retail and adjacent sector workers in the U.S. The company gave $122 million in grants to support women’s economic empowerment and provided training for more than one million women farmers, factory workers and others.
Through FY16, Walmart has invested $14.5 million to start a three-year pilot to identify new ways to serve veterans. The company achieved its goal to sustainably source 100 percent of its private brand palm oil by the end of 2015. Walmart U.S. diverted from landfills 82 percent of materials previously considered waste and has protected more than one million acres of wildlife habitat through support to Acres for America.
Walmart successfully met and exceeded its ambitious goal of eliminating 20 million metric tons GHG emissions from its supply chain. To mark the 10-year anniversary of Hurricane Katrina, the company made a $25 million commitment over five years to improve community disaster response.
In FY2016, the company gave $95 million through community, state giving and volunteerism grants. In addition, Walmart associates volunteered more than 1.25 million hours in their local communities and the Walmart Foundation awarded more than 800 scholarships to associates and their dependents to support higher education. The company also donated 611 million pounds of food and $61 million in funding to organizations working to alleviate hunger.
Source: Moultrie News
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