CHALLENGEHow can regional entities strengthen the climate resilience of a global business?
Few areas are as exposed to climate change as our food systems. Farmers feel the consequences of heat stress on their livestock and climate-linked crop failures, while supermarkets and food companies face disruptions in supply chains and shifts in consumer demand. There is no doubt that companies must assess and manage these risks to keep their business, and ultimately our food systems, resilient.
As one of the largest retailers in the world, Walmart has developed a climate strategy to manage its risk exposure and remain competitive. However, risks vary across regions. Policies or landscapes that will affect a branch in one country will not impact another. As Walmart’s largest division outside the US, Walmart de México y Centroamérica, recognised that to support the retailer’s global climate strategy, it needed to break down the local risks and opportunities woven through its operations and verticals.
SOLUTIONZooming in on climate risks across Walmart de México y Centroamérica
Walmart periodically assesses its climate risks and opportunities to update its climate strategy. The last assessment, updated in 2020, was a good foundation from which Walmart de México y Centroamérica could cultivate its own risk assessment, covering commercial operations in Mexico, Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica as well as its verticals, including all physical stores, covering the 15 store brands; health services (Walmart Salud); financial services (CASHi); ecommerce; advertising platform (Walmart Connect); and phone and home internet services (BAIT). To get a clear picture at a local level, we: