Boston, MA 05/16/2014 (wallstreetpr) – There are not many things that Unilever Plc (ADR) (NYSE:UL) can learn from the U.S. giant retailer Wal-Mart Stores, Inc. (NYSE:WMT). However, renewable energy strategy is one thing that the fast-moving consumer goods supplier may want to study from Wal-Mart.
Unilever has a goal to reduce its carbon emissions by shifting to renewable energy by 2020. The company also intends to double its business by that time. Therefore, it seeks to achieve a perfect balance between growing its business while reducing impact on the environment.
Previous attempts by Unilever Plc (ADR) (NYSE:UL) to trim its carbon emissions have achieved little. Although the company celebrated a 32 percent reduction in carbon emission over a five-year period at its manufacturing process, the company saw its overall emissions up 5 percent over the same period.
As such, Paul Polman, Unilever CEO, recently said the company intends to do more. Doing more means looking into better strategies to lower carbon emissions, and this is where the company looks to Wal-Mart as a good example.
Renewable energy
Wal-Mart at the end of 2013 had about 240 solar installation projects completed. It generates about 15 percent of its energy from the solar projects. The solar energy supports activities at the retailer’s stores and distribution centers across the U.S. Its solar systems partner is SolarCity Corp (NASDAQ:SCTY) that is responsible for the building and installation of its solar farms.
During a recent high-profile meeting with President Obama, Wal-Mart U.S. President Bill Simon revealed that the company intends to save more than $1 billion on energy bill per year once it meets its 2020 energy goals.
Can the same apply to Unilever?
Unilever Plc (ADR) (NYSE:UL) intends to generate 100 percent of its energy supply for the U.S. operations from renewable sources by 2020. That move will help the company to reduce it carbon footprint and make the business more profitable because of the potential cost-saving opportunities.
Towards that end, the company recently announced a partnership with NRG Energy Inc (NYSE:NRG) as part of its energy strategy to meet its self-imposed 2020 renewable energy capacity.
