If Wal-Mart is to be believed, the world's biggest retailer's latest slogan, "Saving people money, so they can live better," will soon need to be replaced with a greener, more socially conscious one. At a recent gathering of top company executives, nongovernmental organizations, and more than 1,000 suppliers in Beijing, the retailer announced an ambitious plan aimed at ensuring its products are made according to strict environmental and labor standards. That, too, will help ensure the quality of its products and help meet a goal of ending all defective product problems by 2012, says Wal-Mart CEO Lee Scott at the Beijing conclave. "Meeting social and environmental standards is not optional."
Source: Business Week