Walmart President and CEO Mike Duke today announced the company's next step on the path to achieving its goal of being supplied 100 percent by renewable energy. Unveiled at Walmart's Global Sustainability Milestone Meeting, the company committed to achieving the following by Dec. 31, 2020:
Drive the production or procurement of 7 billion kWh of renewable energy globally every year, a 600 percent increase over 2010 levels; Reduce the kWh/sq. ft. energy intensity required to power Walmart's buildings globally by 20 percent compared to 2010 levels.
Walmart's six-fold increase in renewable energy projects is expected to be equal to eliminating the need for roughly two U.S. fossil fuel power plants. Based on external estimates of projected energy costs and other factors, the two new commitments are anticipated to generate more than $1 billion annually in energy savings once fully implemented.
We will also avoid 9 million metric tons of greenhouse gas (GHG) emissions, the equivalent of taking 1.5 million cars off the road, in effect halting the growth of GHG emissions from the company's largest GHG source — energy used to power buildings — by 2020.
Over the term of its power purchase agreements (PPAs), the renewable energy Walmart buys either meets or beats non-renewable power prices. In 2012 alone, Walmart added nearly 100 renewable energy projects, bringing the total number of projects in operation worldwide to nearly 300 today.