Walmart Inc. of Bentonville on Wednesday released its first "Environmental, Social and Governance" report, detailing the retailer's progress toward goals involving sustainability, economic and climate change initiatives.
Walmart bills the annual report as a "streamlined update" on how it approaches "key issues facing society and initiatives across its business segments that make a difference in both the communities it operates and the world."
In addition to the ESG report, Walmart also released its annual update on ethics and compliance, and launched Walmart.org, a new website featuring the philanthropic efforts of Walmart and the Walmart Foundation.
"It's not enough to just serve one stakeholder group, the opportunity for business and their leadership is to add value for all stakeholders," Walmart CEO Doug McMillon said in a news release. "Throughout Walmart's history, we have understood that for a business to last, it must have a fundamental reason for being, which is found in the value it creates for all — customers, associates, communities, shareholders, suppliers, future generations, and the planet."
The ESG report included notes on employee pay in fiscal 2019. Walmart said the average wage for a full-time, hourly field employee in its U.S. stores was $14.26 as of March. The average total compensation and benefits for a full-time, hourly field employee in its U.S. stores was $19.31. It said the majority of its hourly workers in the U.S. are full-time.
The report said 55 percent of its total U.S. workforce are women, and 44 percent are "people of color." It said 75 percent of its U.S. store operation management employees began as hourly workers. It said U.S. store managers earn an average of $175,000 per year.
Walmart employs 2.2 million worldwide.
The retailer claimed progress in reducing employee turnover. It said turnover at U.S. stores is down by more than 10 percent to its lowest level in five years. It comes as Walmart has invested more in its U.S. stores, working to improve training and remake how it staffs them.
The report said Walmart has raised started wages by more than 50 percent in the past three years, and that all its U.S. employees now make more than federal minimum wage of $7.25 per hour. New workers now start at $11 per hour, and some department managers can earn as much as $24.70 per hour.
The report provided an update to "Project Gigaton," which aims to reduce emissions from its supply chains by 1 billion tons — a gigaton — by 2030. The project launched in 2017. It said its suppliers reporting avoiding more than 93 million metric tons of emissions over the last two years.
Walmart also aims to be supplied by 50% renewable energy by 2025. So far, renewable energy makes up 28% of its electrical sources.
And in 2018 in the U.S., Walmart said it diverted 81% of unsold products, packaging and other waste from landfills, and that it recycled more than 430 million pounds of plastic film and rigid plastics worldwide.