Walmart
WMT:US US9311421039
Key Information
HQ:
United States
Market Cap:
$541.1bn
Primary Markets:
North America, LATAM, Europe & Russia
Protein Diversification Engagement
Analysis Overview
Climate Strategy - Integration of Protein Diversification Climate Strategy - Governance and Influence Climate Strategy - Adoption of Just Transition Product Portfolio - Resource Allocation Consumer Education - Consistency of Marketing Strategies
Analysis Breakdown
Climate Strategy - Integration of Protein Diversification
DNF
Quantify Potential/Opportunity
Low
TCFD-aligned scenario analysis
Walmart has completed TCFD aligned scenario to understand the physical risks to the business. However, the company has only disclosed the use of a 3-7 degree scenario (RCP 8.5). Moreover, it is unclear if the company has included all animal proteins within this risk analysis as Walmart has only identified animal feed, milk, and shrimp as at-risk commodities from this analysis.
No Evidence
Reporting of Scope 3 emissions from animal agriculture
Walmart discloses a break down of its Scope 3 emissions however it is unclear how much of the company's emissions are attributed to animal agriculture
No Evidence
1.5C aligned SBTi Scope 3 FLAG target
The company has an SBTi approved target of reducing upstream and downstream Scope 3 emissions by one billion tonnes by 2030 from a 2015 base year. However, this target does not include FLAG emissions and is not aligned to a 1.5 degree scenario.
No Evidence
Quantifying the opportunity of protein diversification
Walmart estimates that the sale of two plant-based protein brands in a limited number of its stores has a financial opportunity of $120,000 in the medium term. It is unclear what timeframe this medium term is.
Full
Protein Diversification Strategy
DNF
Integrating protein diversification into climate transition plans
There is no evidence for this KPI.
No Evidence
Protein diversification target is timebound
There is no evidence for this KPI.
No Evidence
Business coverage of protein diversification target
There is no evidence for this KPI.
No Evidence
Alignment of target with climate and health guidelines
There is no evidence for this KPI.
No Evidence
Measuring Progress
DNF
Disclosing progress against protein diversification target
There is no evidence for this KPI.
No Evidence
Annual reporting of progress of protein diversification target
There is no evidence for this KPI.
No Evidence
Climate Strategy - Governance and Influence
Partial
Board Oversight
DNF
Board support for protein diversification
Walmart does not have a protein diversification target and therefore does not have board-endorsed support or periodic oversight to meet this target.
No Evidence
Climate expertise of board
It is unclear from Walmarts disclosure if any of its board members have technical expertise in climate. Although the company has disclosed that its board has oversight of the company's ESG Steering Committee which manages the company's ESG strategy, it is unclear if this committee is an expert advisory group on climate.
No Evidence
Nutrition/health expertise of board
It is unclear from Walmarts disclosure if any of its board members have technical expertise in nutrition/health. Although the company has disclosed that its board has oversight of the company's ESG Steering Committee which manages the company's ESG strategy it is unclear if this committee is an expert advisory group on nutrition/health.
No Evidence
Advocacy
Lead
Disclosing a list of direct lobbying actions
Walmart offers a comprehensive insight into its direct lobbying activities. The company has disclosed lobbying on the following topics; corporate tax policy, energy and climate, healthcare, individual data privacy, marketplace trust and transparency, nature, biodiversity, sustainable commodities, racial equity, trade and manufacturing, transportation and supply chains, waste reduction and circular economy, and workforce development. Walmart has additionally disclosed its annual political contributions.
Full
Direct lobbying in line with climate and nutrition
Walmart has disclosed lobbying actions that are aligned for both positive climate and nutrition outcomes for the company's food business. On nutrition Walmart is supporting state and federal legislation around the Supplemental Nutrition Assistance Program (SNAP), Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), and Nourish my Health program. On climate the company is advocating for the US federal Farm Bill to include support for regenerative agricultural practices.
Full
Disclosing a list of indirect lobbying actions
The company discloses a full list of affiliations with associations and other organizations to which it provides support.
Full
Indirect lobbying in line with climate and nutrition
Walmart has disclosed that the lobbying of its trade associations are aligned with positive climate and nutrition outcomes. On climate, the company is a member of trade associations that advocate for renewable energy, responsible sourcing, regenerative agriculture, reducing climate change, and sustainable animal protein production. On nutrition, Walmart's trade associations are advocating for nutritional marketing and consumer health.
Full
Climate Strategy - Adoption of Just Transition
Low
Just Transition Commitments
Low
Public commitment to Just Transition principles
There is no evidence for this KPI
No Evidence
Commitment to support workers
There is no evidence for this KPI
No Evidence
Commitment to support stakeholders
Walmart is supporting its beef suppliers decarbonise by providing them with technical support on-farms, grants, and investments. However, it is unclear if these support measures are pilots or large scale projects. The company has provided a high-level statement that its technical support includes assisting farmers implement grazing management techniques and incentivising regenerative agriculture for animal feed production. The Walmart Foundation has provided grants to improve grassland management in US Northern Great Plains and to implement regenerative agriculture in Mato Grosso, Brazil. The company has additionally invested in land-use change monitoring tools in Brazil. Although the company has disclosed that its Project Gigaton has supported 5,200 suppliers improve their sustainability practices, the company has not specified how many of these suppliers are animal protein suppliers.
Limited
Just Transition Strategy
Low
Public Just Transition strategy
There is no evidence for this KPI
No Evidence
Consulting social actors in Just Transition strategy development
Walmart does not have a Just Transition strategy but does have ongoing consultations with its suppliers to develop its decarbonisation strategy for its supply chain. The company conducts this engagement through the Sustainability Milestone Summit, Joint Sustainability Planning, Commodity Summits, and Pre-initiative Engagement. These forums allow suppliers to provide feedback on potential sustainability initiatives and for the company to discuss and gain insight on how to develop the best sustainability initiatives that will impact the company's supply chain.
Limited
Just Transition KPI
DNF
Disclosing Just Transition KPIs
There is no evidence for this KPI.
No Evidence
Reporting against Just Transition KPIs annually
There is no evidence for this KPI.
No Evidence
Product Portfolio - Resource Allocation
Low
Portfolio Diversification
Partial
Dedicating resources to expanding alternative protein offering
The company launched its own brand "Bettergoods" and two external brands "Voyage Foods" and "Planting Hope Brands" all of which have numerous plant-based products within their ranges.
Full
Annual evidence of resource allocation
There is no evidence for this KPI.
No Evidence
Improving Nutrition and Sustainability Attributes
DNF
Dedicating resources to improve the nutrition and sustainability of products
There is no evidence for this KPI
No Evidence
Reformulating products to improve nutrition
There is no evidence for this KPI.
No Evidence
Reformulating products to improve sustainability
There is no evidence for this KPI.
No Evidence
Consumer Education - Consistency of Marketing Strategies
Partial
Commitment Across Geographies/Brands
Good
Commitment to marketing alternative protein sources
Walmart's newly launched Bettergoods range which includes numerous plant-based protein products is being marketed as an affordable food option with most products being priced under $5 as part of its Every Day Low Price commitment.
Full
Business coverage of marketing commitment
Walmart has only provided evidence of using affordable pricing marketing for plant-based products in its Bettergoods range. It is unclear how the company is marketing plant-based products within other plant-based ranges.
Limited
Nutrition and Sustainabilty
Partial
Promoting the nutritional attributes of alternative protein sources
Walmart has implemented its Great For You Icon in-store and Built for Better - For You icon on its website and in-store to sign-post consumers towards healthy food options. However, it is unclear how much of the company's plant-based portfolio these icons covers.
Limited
Promoting the sustainability attributes of alternative protein sources
Walmart has implemented its Built for Better - For the Planet icon on its website to sign-post consumers towards sustainable food options. However, it is unclear how much of the company's plant-based portfolio this icon covers.
Limited
Consumer Research
DNF
Conducting consumer research on alternative protein sources
Walmart has found that 78% of consumers have expressed that sustainable lifestyle is important. However, it is unclear if the company understands if this sustainable lifestyle has translated into an increase in demand for alternative protein sources.
No Evidence
Conducting consumer research on healthy diets
There is no evidence for this KPI
No Evidence
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Workstream Information
Business Type:
Retailer
Company Feedback Given:
No
Last Updated:
8 July 2024
2024 Resources
Protein Diversification Phase 1 Progress Report Protein Diversification Engagement