Walmart’s ‘Live Better Scorecard’
By Tyler Collins
In 2005, in the wake of Hurricane Katrina, Walmart executives realized the company could do more for the environment and the communities it serves. As such, the company has recently announced the Live Better Scorecard, a sustainability index designed to assess the environmental impacts of its products.
The tool has been in development since 2009, in collaboration with a number of other companies, as well as The Sustainability Consortium (TSC). Keeping in line with Walmart’s broad goal of establishing a global retail standard for the 21st century, the Live Better Scorecard seeks to help:
- Improve the sustainability of products
- Integrate sustainability into the core business
- Reduce cost, improve product quality, and create a more efficient supply chain
The Live Better Scorecard has already been rolled out to buyers in over 100 categories—such as cereal, coffee, apparel, hardware, and electronics—with another 100 categories to be added by the end of the year. Walmart’s original goal was to have the scorecard in 100 categories by the end of 2012.
Walmart has said that the long-term goal is to evolve the scorecard as a product label for sustainability, similar to a nutrition label; however, the short-term focus is on providing the buyers in the merchandising team a tool to assess the sustainability of the products placed in shelves.
This tool comes at a time when many major companies are beginning to re-assess their sustainability and environmental impact.
Read about other companies using sustainability indexes here.
Mention of specific companies or securities should not be considered a recommendation to buy or sell that security. Past performance is never a guarantee of future results.
Posted: October 12, 2012