Wal-Mart Chairman: It Pays to Go Green
When H. Lee Scott, Jr., Chairman of the Executive Committee of the Board of Directors and former CEO of Wal-Mart Stores, Inc., spoke at the Fortune Brainstorm GREEN conference on April 19, 2010, he clearly stated that Wal-Mart’s motivation for going green was economically-motivated. According to CNET.com, Scott said, “What Wal-Mart has done is approach this from a business stand point and not from a point of altruism. If we as a company focus on waste, we can make Wal-Mart a better company and at the same time, become a better citizen.” (For more of Scott’s thoughts on the environment, check out this interesting interview with Grist from 2006.)
While I wish that Wal-Mart – a retail giant with more than 8,400 stores in fifteen countries and over $400 billion dollars in revenue each year – had greened its supply chain out of a desire to be “a better citizen” rather than seeing that result as almost accidental, I appreciate the bottom line:
It pays to go green.
And if Wal-Mart can take steps in an environmentally responsible direction, then I will keep my fingers crossed that a multitude of other businesses – both big and small – will follow suit.
Comments
Helping the environment has to be good for the economy, the more we harm our environment the more longterm economic damage we must of course inflict. Long-term is the key concept here, companies have so far been able to place short-term profit goals over longer-term environmental implications, but as those implications unfold they become increasingly short-term concerns. It’s great that Walmart is taking the initiative, but ti remains a minute step in an uphill batter against the prodominating concern with corporate profits. Good news then, just need a lot more of it.
Not all companies are concentrating on going green especially after the grim economic climate
Didn’t think Wal-Mart would take so much initiative to be honest, but great to see.
Till then,
Jean
Long-term is the key concept here, companies have so far been able to place short-term profit goals over longer-term environmental implications,
what.. walmart would take so much initiative to be honest ??
Walmart is taking the initiative, but ti remains a minute step in an uphill batter against the prodominating concern with corporate profits.
I like this move by the walmart chairman. It is essentially telling other companies to be green as well. When there is a savings attached to the green initiatives, it is much more likely that companies will jump on board.
They just got hit with a 26 million dollar fine for pollution in california…. or something along those lines.