With global income inequality on the rise, multinational corporations are key players in building sustainable systems to economically elevate those living at the base of the pyramid. Answering the question of how companies can redefine business globally to tackle current challenges, Judith McKenna emphasized the importance of a business being a good citizen in the countries in which it operates. McKenna highlighted Walmart’s approach to good governance in the supply chain, which includes auditing and investigating Walmart suppliers to ensure compliance with company standards, ethical guidelines, and transparency.
Considering the current debate around companies’ involvement in environmental, social & governance (ESG) issues and increasing consumer activism, Judith McKenna discussed Walmart’s recent commitment to attaining zero emissions by 2030 and the notion that ESG principles accentuate Walmart’s approach to business during a global pandemic.
While the devastating effects of COVID-19 in Latin America have largely been underreported in the U.S., McKenna spoke about how Walmart’s operations have changed to address some of the immediate challenges, such as pick-up in-store options, omnichannel, and ecommerce.