Walmart, HSBC reward supplier emission cuts with better loan terms

Read the full story in Supply Chain Dive.

Walmart is partnering with HSBC to allow suppliers to apply for improved financing with the bank if they show progress under either Project Gigaton or the retailer’s Sustainability Index Program.

“In many industries it is a company’s supply chain — rather than the company itself — that is responsible for most of the environmental impact and therefore offers the greatest potential for sustainability improvements,” Natalie Blyth, HSBC’s global head of trade and receivables finance, said in a statement.

Walmart’s China-based suppliers have avoided 3.46 million metric tons of carbon dioxide as part of the Project Gigaton China, the retailer’s effort to reduce emissions by 50 million metric tons by 2030, Walmart announced last week. This comes just over a year after the launch of Project Gigaton China.

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