If you are looking for EIA UK, it's overhere.

First-Ever Walmart Shareholder Resolution on Climate-Damaging Refrigerants Passes Key Threshold for Support

Washington, D.C. – Today, Walmart investors voted on the first-ever shareholder resolution on refrigerants and their related climate impacts. The initial count indicates 5.5 percent of investors voted in favor of the proposal filed by Rhode Island Treasurer Seth Magaziner, urging Walmart to disclose how it will limit its impact on climate change by increasing the scale, pace, and rigor of its plans to significantly scale back hydrofluorocarbons (HFCs) used in its operations.

The 5.5 percent outcome is particularly significant, since the first-year resolution only needed to meet the threshold of 5 percent support to be considered in a second year. This puts considerable pressure on Walmart to listen to concerned shareholders and take action on HFCs. Walmart had advised its investors to vote against the resolution to report on its HFC emissions and its notable that the Walton family holds nearly half of Walmart’s shares.

Walmart uses highly potent HFCs, which are greenhouse gases with thousands of times the warming power of carbon dioxide. HFCs are rapidly leaking out of Walmart facilities and make up 48 percent of the company’s direct climate-damaging emissions. Walmart emits over three million metric tons of HFCs, equating to more than half a million cars on the road each year. Several competitors of Walmart, including Aldi and Target, are far ahead in adopting climate-friendly refrigerants in their stores.

“Today’s shareholder vote shows that a growing number of investors are concerned that Walmart’s 2040 target for phasing down HFC climate super-pollutants is out of step with global and domestic policy,” said Beth Porter, Climate Campaigns Director for Green America. “The resolution received enough support to be re-introduced next year, and in the meantime, investors and consumers will continue pressuring Walmart to cut its HFC emissions on a more rapid timeline.”

“Today’s vote is a pivotal step in investors calling on Walmart to address its largest source of direct climate emissions,” said Christina Starr, Senior Policy Analyst for the Environmental Investigation Agency. “As more and more investors care about meaningful climate action, pressure will mount on supermarkets like Walmart to address refrigerant leaks and stop using super-polluting HFCs quickly.”

Green America and the Environmental Investigation Agency are running campaigns to mobilize consumer pressure to get Walmart to address its HFC leaks and adopt ultra-low-Global Warming Potential (GWP) alternatives rapidly. The company took a voluntary pledge in 2010 to begin phasing out HFCs, but its emissions have steadily increased since then.

In September 2020, after years of mounting public pressure through advocacy campaigns and growing regulatory progress on refrigerants, Walmart finally announced a goal to transition to “low-impact” refrigerants by 2040 but has provided no details of how it will meet this target nor specifics on what refrigerants it plans to adopt. The best practice for lowering climate impacts is to use “ultra-low GWP” refrigerant options with a GWP less than 5 instead of “low-GWP”, which can still have hundreds of times the warming potential of CO2.

Contact:
Lindsay Moran, EIA Head of Communications, lmoran@eia-global.org

View all Press Releases

Recent Blog Posts

Unkept Promises: Chemours Newest Targets Miss the Mark
04/16/2021
Following EIA’s call to cease irresponsible operations and subsequent mounting press pressure, the American chemical giant, the Chemours company released a new statement on their climate goals yesterday.
Major Climate Win: Lessons for the Montreal Protocol
02/10/2021
Two new papers published in Nature suggest that the CFC-11 emissions are back on a downward trajectory potentially avoiding substantial delays in the recovery of the ozone layer. The papers show an accelerated decline in global atmospheric concentrations of CFC-11 from 2018 to 2019, and attribute 60% of the decline to China. This is a huge win for the ozone layer and our climate, which would not have been possible without a concerted global response to the findings from the ground and the atmosphere.

Recent Reports

EIA briefing to OEWG43: Unexpected CFC-11 emissions
07/09/2021
Briefing to the 43rd Meeting of the Open-ended Working Group of the Parties to the Montreal Protocol (OEWG 43)
Template: Letter of Support for EIA AIM Act Petition
04/13/2021
Interested organizations can submit a letter of support for EIA’s petition to EPA to restrict HFC uses under the AIM Act. Please download the attached template above to submit a letter to newberg.cindy@epa.gov.

Recent Press Releases

Landmark EPA Climate Rulemaking Takes Aim at U.S. Phasedown of Super-Pollutant HFCs
09/23/2021
The Environmental Protection Agency has published a landmark new climate regulation to establish an allocation system to cap and begin phasing down hydrofluorocarbons (HFCs), the super pollutant greenhouse gases used mainly in cooling.
U.S. EPA Proposes Landmark Climate Rule to Initiate HFC Phase-down
05/03/2021
Today the Environmental Protection Agency (EPA) released a proposed rulemaking to establish an allocation system for the phasedown of hydrofluorocarbons (HFCs). The proposed rule is the first step to implement the American Innovation and Manufacturing Act (AIM Act), the new climate law that sets the U.S. on course for compliance with the Kigali Amendment to the Montreal Protocol. The rule proposes an allowance allocation and trading system, which will determine the amount of HFCs an entity can produce or consume, and create the mechanism to phase-down domestic HFCs.

Recent Videos

Leaking Havoc: Exposing Your Supermarket’s Invisible Climate Pollution
02/15/2021
An EIA investigation into dozens of supermarkets in the greater Washington, D.C. area, including Virginia and Maryland, found a majority of stores to be leaking super-pollutant hydrofluorocarbon (HFC) refrigerants
What are the HFC-free Technologies?
Widespread adoption of HFC-free technologies is cost-effective, energy efficient, and climate-friendly. Read EIA’s report Putting the Freeze on HFCs for hundreds of examples of HFC-free technologies available and in use today.
A Global HFC Phase-down
The October 2016 Montreal Protocol meeting in Kigali, Rwanda yielded a global agreement to phase down HFCs. Now countries must ratify and implement the Kigali Amendment! Read and share EIA's briefing on this great opportunity and obligation to avert climate catastrophe.
Help us mitigate climate destroying gases
Where are HFCs used?
What are HFCs?
How to Recycle Your Fridge