Milestone /ˈmīlˌstōn/
1. a stone set up beside a road to mark the distance in miles to a particular place.
2. an action or event marking a significant change or stage in development.
This past week during our time of pandemic, firestorms, civil unrest, hurricanes, economic volatility, and political fragmentation, humanity passed a mostly unrecognized milestone.
On Tuesday, September 22, the CEO of the world’s largest company, Doug McMillon, committed Walmart ‘to becoming a regenerative company, one dedicated to placing nature and humanity at the center of our business practices.’ This declaration comes 15 years after Lee Scott, Walmart’s CEO at the time, stood in front of millions of employees and committed Walmart to be supplied 100% by renewable energy, produce zero waste, and sell sustainable products.
Both CEO declarations were milestones. Bold in their time, they mark a change in focus for millions of people. They provide a clear picture of a desirable future without clarity on how to get there. They lay out timebound mini-milestones along the path. They inspire actions with different results. And, they require courage and humility to say.
The declaration’s power is found in its audacity and opacity. In 2005 it was crazy to think that Walmart’s CEO would aspire to be a sustainability leader. Along with most of the Fortune 500 at the time, Walmart was worlds away from leading. When Lee Scott declared Walmart would be supplied 100% by renewable energy, and that he had no idea how to do this, a storm of innovation ensued that has resulted in 28% use today and helped accelerate lowering the cost of renewables below coal and natural gas. The declaration had far reaching consequences.
Doug’s recent commitment to becoming a regenerative company is bolder (but only because it’s now; when it happens in 15 years, it will seem obvious). While most companies today, including Walmart, are still trying to be less bad, the CEO of the $514 billion company has committed to be measurably good by science-based criteria of healthy people and planet. Today there isn’t a single company, small or big, that meets these criteria. Most will say it’s impossible. And it is, if we look at the politics, economics, and social inertia right now. But, there’s no law of physics, biology or chemistry that says “impossible!” Just the opposite. The call to regeneration may be just what the doctor ordered.
Along the road to regeneration, Walmart’s new mini-milestone of reaching zero emissions across its operations, without offsets, by 2040 is also audacious, as is protecting 50 million acres of land and 1 million miles of ocean, but this is doable and the roadmaps have been designed. In all likelihood, these time-bound commitments are where most attention will focus. But it is the less clear vision of a regenerative company, economy and world that is most inspiring. It will continue to shape thoughts, decisions, roadmaps, and targets into the future.
Milestones with big consequences can also be quiet and personal. In 2003, while running through the redwoods at sunrise, I had an idea that shaped the last 15 years of my life: the greatest untapped source of competitive advantage is found in the radical application of sustainability principles into the core business of large companies. The corollary was that large companies were the least likely companies to adopt sustainability.
This personal declaration led to the creation of Blu Skye, that led to a lunch with a friend, that led to a call with Walmart’s chairman, that led to meeting with the CEO of Walmart, that led to being hired to explore how sustainability could be a core part of Walmart’s strategy. Thus began a journey with many colleagues and mini-milestones where for 15 years Blu Skye has continuously supported Walmart’s progression to now aspiring to be a regenerative company.
Blu Skye’s mission for the last 15 years is to tip business to sustainable practices. Now, it’s time to declare a new milestone: we will help tip business to regenerative practices.
Watch the full Walmart Sustainability Milestone Meeting here.
Lee Scott (left) and Doug McMillon