To pull these workstreams together into a cohesive, well-executed strategy the organization is thinking and working in new ways. Whether it’s working in an agile way, prioritizing digital acumen and diversity in our talent base, or developing new ownership structures around the world – we are evolving as a company and functioning in a way that supports innovation, speed and productivity. We’re doing all of this while keeping true to the core values we share at Walmart.
Our values are simple and guide our business decisions, but the outcomes also have a powerful impact on the world given Walmart’s scale. We believe trust is a competitive advantage. We run our business using a shared value approach. It’s an ideology that guides us in all aspects of the business. The best way to create a valuable company is to build for the long term, manage the short term, and serve all relevant stakeholders.
In September of 2020, Walmart announced its aspiration to become a regenerative company. This is a holistic approach through which we have set aggressive targets, including:
- Zero emissions in our own operations by 2040, with no offsets
- 100% renewable energy to power our facilities by 2035
- Electrify our vehicles by 2040, and
- Manage or restore at least 50 million acres of land and one million square miles of ocean by 2030
These are not one-off projects we’re working on. They are strategic and core to what we do. I encourage you to read more about our efforts on regeneration as well as our leadership on other priorities in the upcoming Environmental, Social and Governance report to be published in June.
Our company has also taken a leadership role to help tackle other challenges that face our society. I’m really proud of the work we’re doing on racial equity. It’s something we’re committed to. We’re finding ways to leverage our size and influence to shape financial, healthcare, education and criminal justice systems and create more equity, more often. Ensuring equality for all citizens is the right thing to do, and it’s smart business. A more diverse and inclusive workforce is a more powerful workforce.
In closing, I’ll once again thank our associates. They serve customers and their communities in a way that’s simply incredible. That’s why so many customers trust Walmart. They trust who we are as a company, our values and what motivates us. They also trust us to keep them at the center of all that we do. Our business model has evolved and will look different in the future than in the past. We’re innovating on behalf of our customers and increasingly touching more parts of their lives and providing solutions. We’re driven to create a seamless, value-added and more digital experience, and we have the assets to deliver that for them. We have momentum in our business, which is a direct result of investments we’ve made in recent years. Today, we see a unique opportunity to step up investments in key areas to make our business even stronger and grow faster. We’re confident our strategy will allow Walmart and its stakeholders to win for many years to come.
President and Chief Executive Officer