Net 0 Tracker

Walmart

"Walmart's net zero target is to achieve zero emissions across global operations by 2040. Net Zero Tracker
This target covers carbon dioxide and other greenhouse gases, as well as scope 1 and scope 2 emissions. Net Zero Tracker
The company has set interim targets of reducing emissions by 35% relative to 2015 emissions by 2025, and a 65% reduction by 2030. Net Zero Tracker
An interesting fact about Walmart's environmental policy is that it explicitly states it will achieve its targets without carbon offsets, but it does not have a target that covers scope 3 emissions. Net Zero Tracker
In …"

Current Score (vs. LY)

61.3 pts (-7.8)

Last Update: Dec. 12, 2023

Current Rankings

Global: #35

S&P100: #22

Consumer Staples: #6

85.0%

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

70.8%

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

25.0%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

	Y2021	Y2020	Y2019
Scope 1	7,312,245	7,250,000	6,850,000
Scope 2 - location-based	9,475,167	NA	NA
Scope 2 - market-based	6,544,173	8,680,000	10,370,000
Scope 1-2 - location-based	16,787,412	7,250,000	6,850,000
Scope 1-2 - market-based	13,856,418	15,930,000	17,220,000
Scope 3	242,835,480	0	0
Total - location-based	259,622,892	7,250,000	6,850,000
Total - market-based	252,905,085	15,930,000	17,220,000

Note: Data sources detailed here

	Y2022	Y2021
Total CO₂e estimate (by Net0Tracker)	269,922,915	252,905,085
Methodology	Previous year intensity (revenue)	As reported

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.

Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)

Please refer to the library for viewing the supporting documentation

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

Walmart belongs to the sector Consumer Staples.

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

Scope	Reduction Objectives	Base Year	Target Year	Comments
S1S2MKT	35.0	2015	2025
S1S2MKT	65.0	2015	2030

Net Absolute Emission Reductions

Scope	Reduction Objectives	Base Year	Target Year	Comments
S1S2S3MKT	100.0	2020	2040

Net Zero Future Commitments

Scope	Scope 3 Coverage	Target Year	Comments
S3	FULL	2030
S1S2S3LOC	FULL	2040

Science-based Targets (SBTI)

Date Published / Updated :01/11/2016

Near-term	Long-Term	Net Zero Standard
Targets Set : 1.5°C by 2025, 2030	No target	Yes

Walmart is a member of the Business Ambition for 1.5 campaign (link here )

Walmart commits to reduce absolute scopes 1 and 2 GHG emissions 35% by 2025 and 65% by 2030 from a 2015 base year. Walmart will also work to reduce CO2e emissions from upstream and downstream scope 3 sources by one billion tonnes between by 2030 from a 2015 base year.

Data source: SBTI

Offsets

Last update for Walmart by zerotracker.net: Sept. 4, 2024

Planning to use external offset credits	No
Separate targets for emission reductions and removals	Yes
Conditions on use of offset credits	None
Plans for carbon dioxide removal (CDR)	No

Additional notes: "We were the first U.S. retailer to make a zero emissions commitment that does not rely on carbon offsets." https://corporate.walmart.com/esgreport/esg-issues/climate-change However for the scope 3 target: Project Megatron mentions "protect manage and restore forests through certification". (This is under "actions we encourage suppliers to take" - implying that they are fine letting others use credits in order to achieve their scope 3 target - however they don't plan on buying any themselves it seems.) "Explicitly states that it will achieve its targets without carbon offsets, but does not have a target that covers scope 3 emissions." --> https://newclimate.org/sites/default/files/2023-02/NewClimate_CorporateClimateResponsibilityMonitor2023_Feb23.pdf

Score Summary

Ref	Principle	Score (points)	Max (points)	Delta (points)
1	At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified	10.0	10.0	0.0
2	Scope 3 emissions are fully reported and externally-verified	7.5	10.0	0.0
3	CDP score demonstrates the level of transparent disclosures	8.0	10.0	2.0
	Transparency	25.5	30.0	2.0
4	Net Zero Commitments by 2050 include an intermediate target and cover all the emissions	10.0	10.0	0.0
5	Net Zero targets demonstrate a high-level of emergency	3.333333333333334	10.0	0.0
6	Emission reduction targets on a forward-looking basis are ambitious	5.0	10.0	2.7
7	Targets are science-based as validated by SBTi	10.0	10.0	0.0
	Commitments	28.333333333333336	40.0	2.7
8	Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets)	0.0	10.0	-10.0
9	Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets)	0.0	10.0	0.0
10	Implied Temperature Rating by MSCi	7.5	10.0	-2.5
	Results	7.5	30.0	-12.5
	Total	61.3	100.0	-7.8

Score Details

Criteria	Results	2023 Score	2022 Score	Vs. 2022	2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period?	yes	5.0 / 5.0	5.0	0.0	5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year?	yes	5.0/ 5.0	5.0	0.0	5.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed?	full	5.0 / 5.0	5.0	0.0	5.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year?	partly	2.5 / 5.0	2.5	0.0	2.5
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)?	B	8.0 / 10.0	6.0	2.0	9.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050?	yes	3.0 / 3.0	3.0	0.0	3.0
Does the net zero target include an intermediate target by 2030?	2025	3.0 / 3.0	3.0	0.0	3.0
Does the net zero target include all the emissions?	yes	4.0 / 4.0	4.0	0.0	4.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2?	2040	1.7 / 5.0	1.7	0.0	1.7
Target year for achieving net zero emissions for S1+S2+S3 combined?	2040	1.7 / 5.0	1.7	0.0	1.7
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?	17.8	5.0 / 5.0	2.3	2.7	4.5
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?	No target found	0.0 / 5.0	0.0	0.0	0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to?	Targets Set 1.5°C	10.0 / 10.0	10.0	0.0	10.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target	Objective (in %): 21.0 Actual (in %): -126.9	0.0 / 5.0	5.0	-5.0	0.0
Momentum: last year % reduction vs. forward-looking target	Objective (in %): 17.8 Actual (in %): 13.0	0.0 / 5.0	5.0	-5.0	5.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target	Objective (in %): Actual (in %): No target found	0.0 / 5.0	0.0	0.0	0.0
Momentum: last year % reduction vs. forward-looking target	Objective (in %): Actual (in %): No target found	0.0 / 5.0	0.0	0.0	0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets?	ITR: 1.7°C	7.5 / 10.0	10.0	-2.5	7.5
Total		61.3 / 100.0	69.1	-7.8	66.9

Available Data Sources

Reporting Year	2021	2021	2020	2020	2020	2020	2020	2019	2019	2019	2019	2018	2018
Source	NZPDU	Public	Public	Public	CDP	NZPDU	Yourstake	Public	Public	CDP	NZPDU	Public	NZPDU
Publication Year	2022	2022	2022	2022	2021	2021	unknown	2022	2021	2020	2020	2021	2019
Scope 1	7,312,245	7,370,161	7,250,000	7,240,000	7,236,499	6,728,056	7,236,499	6,850,000	6,480,000	6,484,616	6,484,616	6,100,000	6,101,641
Scope 2 - location-based	9,475,167	9,548,504	NA	NA	11,031,800	9,891,120	11,031,800	NA	0	12,190,878	12,190,878	0	13,057,352
Scope 2 - market-based	6,544,173	6,617,509	8,680,000	9,190,000	9,190,337	8,108,016	9,190,337	10,370,000	11,080,000	11,078,980	11,078,980	12,020,000	12,022,083
Scope 1-2 - location-based	16,787,412	16,918,665	7,250,000	7,240,000	18,268,299	16,619,176	18,268,299	6,850,000	6,480,000	18,675,494	18,675,494	6,100,000	19,158,993
Scope 1-2 - market-based	13,856,418	13,987,670	15,930,000	16,430,000	16,426,836	14,836,072	16,426,836	17,220,000	17,560,000	17,563,596	17,563,596	18,120,000	18,123,724
Scope 3	242,835,480	0	0	0	171,269,374	171,269,374	171,269,374	0	83,474	184,474,411	184,474,411	0	184,474,411
Total - location-based	259,622,892	16,918,665	7,250,000	7,240,000	189,537,673	187,888,550	189,537,673	6,850,000	6,563,474	203,149,905	203,149,905	6,100,000	203,633,404
Total - market-based	252,905,085	13,987,670	15,930,000	16,430,000	184,368,336	182,777,572	187,696,210	17,220,000	17,643,474	198,710,133	198,710,133	18,120,000	199,270,261