This paper has been prepared in order to discuss sustainability theory, its principles and how it has developed over the years. The paper will also examine the strategy of retail giants Walmart and assess their sustainability strategy. The idea of sustainability stemmed from the early 1970s when theorists who took notice of certain trends such as on-going damage to the environment and realised that the human race is living beyond its means. Theorists developed the notion that society needs to change in order to protect the environment and ensure that future generations have a planet capable of meeting their needs. This paper discusses various international agreements made by governments for the protection of the environment. Next, it outlines the three principles of sustainability: the precautionary principle, the proximity principle and the polluter pays principle. Finally, this paper will review the sustainability strategy of Walmart " the biggest retailer in the world. It will look at their continued efforts to reach their three goals: to be supplied by 100% renewable energy, to create zero waste and to sell products that sustain people and the environment. The paper will pass comment on the sustainable activities of Walmart and draw conclusions on the success of their strategy.
Introduction.
While sustainability is considered a contemporary issue, it actually has its roots in the early 1970s. As awareness of environmental concerns increased, governments began to take action and put policies in place to protect the environment. It has been a slow and gradual movement for governments to look at each issue and set policies to prevent further harm to the environment from hazards such as pollution and climate change. Businesses have been even slower to follow suit and it has only been in the last decade that they have begun to take sustainability seriously. Now sustainability is very much at the forefront of societal concerns and businesses have finally begun to implement sustainable strategies.