Walmart Inc. (WMT) Chief Executive Doug McMillion said that a financial incentive would make it easier for both product manufacturers and shoppers to switch to making or buying products that are climate-friendly or sustainable. He was speaking at a panel discussion, at Davos.
Walmart CEO Doug McMillion was a part of a panel discussion at the World Economic Forum in Davos, Switzerland. He said that there were shoppers who buy merchandise keeping climate in mind. However, he said that a large population faced “price pressure” and were unable to make choices that would result in them paying more, in order to buy sustainable products.
He added that their job at Walmart, the nation’s largest retailer became one where they had to “design a system so that the easiest path, the lowest-cost path, no negative trade-off associated with it is actually the more sustainable path.”
The Walmart CEO also said, “People will make the decisions they are going to make.” He added that they wanted to eat, they wanted to wear apparel and they would want a stroller if they had a baby. He added that it was Walmart’s “job to make those products as sustainable as possible should they need them.”
Other consumer goods CEOs, including those who manufacture food and beauty products, also had views similar to that of the Walmart CEO. They spoke of the need to incentivize farmers and cosmetic manufacturers to produce sustainable products that were inexpensive, in order to be chosen by many shoppers.
Earlier, Microsoft co-founder and philanthropist Bill Gates had also answered questions on climate change in a social media forum. He spoke of the necessity of making climate friendly products cheap so that they could be bought by shoppers all over the world as climate change affects entire humanity and not just specific countries or societies.
Walmart has always considered the needs of its millions of shoppers and has said that it would provide quality goods at the cheapest prices. Now, the giant retailer is also looking to provide sustainable products at affordable prices so a multitude of its customers can shop for such products and feel good that they are playing a small but important role in tackling climate change.
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