The tides are changing at the store everyone knows for its always low prices. Wal-Mart’s new “greener” mantra is reducing waste as well as prices.
Already on the shelves at more than 200 Wal-Mart stores are EcoLogo-certified BioSource Solutions cleaning products and Oxi Brite’s Greenline cleaning solutions, which have been developed in partnership with Wal-Mart.
Novozymes, world leader in bio-innovations, is also working with Wal-Mart to provide their suppliers with ways to improve their products. At a Thursday, Aug. 7, meeting in Bentonville, Arkansas, Steve Schotta’s Doing Business in Bentonville and Novozymes representatives helped Wal-Mart to go the “sustainable” mile. Wal-Mart is reportedly asking buyers to submit innovative “green” products for selection that fall into its new sustainability criteria. According to The Morning News out of Arkansas, the products up for selection must be able to tell a story that incorporates an environmental impact that consumers care about and understand. Click here for more on this story.
Lee Scott, President and CEO of Wal-Mart Stores, made a speech in January 2008 at the Wal-Mart U.S. Year Beginning Meeting that sets the tone for this recent action. In his speech, Scott says that Wal-Mart will require its global procurement, domestic importers and manufacturer’s of Sam’s Club or Wal-Mart private brands suppliers to demonstrate that their factories meet specific environmental standards, as well as social and quality standards.
Suppliers take note; “…we will only work with suppliers who maintain our standards throughout our relationship. So we will make certification and compliance part of our supplier agreements and ask suppliers to report to us regularly,” said Lee Scott.
Wal-Mart will be applying pressure on suppliers over the next few years to meet their environmental standards and will favor those that share their commitment to quality and dedication to sustainability.
This is certainly a company to keep your eye on. To read Lee Scott’s Year Beginning speech, click here.
Posted by KateRusnak in Green products, Marketing