The chief executive of the world’s biggest retailer Wal-Mart will favour suppliers providing high quality and ethically sourced products, foodproductiondaily.com reports.
Wal-Mart will launch a major retail-industry effort to improve social,
ethical and environmental standards in the factories of its suppliers, CEO and
president Lee Scott told a meeting of store managers. But the firm will also
raise the bar for suppliers on sustainable sourcing, putting pressure on them to
provide evidence that they are meeting ethical and quality criteria.
Wal-Mart says it is already
demanding that some of its suppliers demonstrate that their factories meet
specific environmental, social and quality standards and this will increase in
coming years. It will also make certification and compliance part of its
supplier agreements and ask suppliers to report on their activities
Wal-Mart also spoke out that it will reduce the energy use with 25% on products
sold in the store. Wal-Mart plans to increase its sourcing of products that are
more energy efficient but also more affordable. Coming months will see the US
retailer asking suppliers to reduce prices on energy-saving items, with the goal
of doubling the sale of products that help make homes more energy efficient,
according to the chief executive.
Weblog – 2008: The year of
2/3 articles remaining | Register to continue reading.