Wal-Mart sets ambitious renewable energy goalsMay 1, 2013
Retailer plans to take renewable energy to new heights
Wal-Mart is quickly becoming one of the strongest supporters of renewable energy in the world of business. As one of the largest retailers in the world, Wal-Mart consumes vast amounts of fuel in order to remain operational. For most of its existence, the retailer has relied heavily on fossil-fuels. Recently, however, Wal-Mart has begun to focus more on renewable energy in the hopes of reaching new energy efficiency standards it has set for itself as well as becoming more environmentally friendly.
600% increase in use of renewable energy by the end of 2020
Wal-Mart has announced plans to reach 7 billion kilowatt/hours of renewable energy annually by 2020. This represents a 600% increase over the company’s renewable energy use in 2010. The retailer has several plans in place to help it reach this ambitious goal. Energy efficiency is one of these plans and Wal-Mart is keen to reduce the energy consumed by its stores and distribution facilities significantly over the next few years. A stronger focus on renewable energy is expected to have some environmental benefits, but the shift away from fossil-fuels is also expected to hold some financial promise as well.
Financial prospects of clean power prove interesting to retailer
Wal-Mart expects to see more than $1 billion in annual savings as it moves away from fossil-fuels. The financial aspects of renewable energy are among the reasons that Wal-Mart has chosen to forsake fossil-fuels. As renewable energy becomes more of an economic issue rather than one concerning the environment or politics, more support is being found in this sector. Indeed, much of the support that the renewable energy sector has been seeing over the past year has come from businesses and governments that are interested in the economic potential of clean power.
Wal-Mart begins showing more concern for the environment
For years, Wal-Mart has been the target of criticism among environmentalist groups due to the company’s extensive use of fossil-fuels. The company has taken such criticism in stride over the years, but has finally taken to adopting renewable energy. Beyond its 2020 goals, Wal-Mart is eager to receive no less than 100% of its energy from renewable sources.