Wal-Mart, the world's largest retailer, is to convene a meeting of hundreds of its Chinese suppliers to set out goals for significant reductions in the environmental impact of its vast supply chain.
Wal-Mart accounts for about 30 per cent of all foreign buying in China and just under 10 per cent of total US imports from the country, which were worth $321bn (€204bn) last year.
About 1,000 Chinese companies are expected to attend the Wal-Mart event in October, marking a push by the retailer to globalise a drive on environmental sustainability that has hitherto largely been focused on its US operations.
Lee Scott, Wal-Mart's chief executive, said in an interview with the Financial Times that “we are really ambitious” about what can be achieved in China, given increased evidence of government concern over the environmental damage done by rapid industrialisation. “I'm very confident that we are going to see in China more progress than any of us has imagined,” he said.
See full Article.
Posts
