Home > Financial Press Releases > Walmart a Pavilion Partner of USA National Pavilion at Shanghai World Expo 2010
Walmart a Pavilion Partner of USA National Pavilion at Shanghai World Expo 2010
Walmart Stores is now a Pavilion Partner of the USA National Pavilion at the Shanghai World Expo 2010. Walmart will support the USA Pavilion with cash and through in-kind commitments. For its support, the Company expects to obtain an “exclusive opportunity to share its efforts to bring high quality, high value and a sustainable approach with the 70 million visitors from China and around the world expected to attend.” The Company made this announcement at Walmart’s flagship “High Efficiency” store in Beijing alongside U.S. Commerce Secretary Gary Locke.
Secretary Locke congratulated Walmart's participation and announced, “Last week, the United States confirmed its participation in the Expo, and today we are celebrating a significant new development -- Walmart’s partnership with the USA Pavilion. It is important to see Walmart and other leading American companies embrace this effort. Their support will help ensure that our National Pavilion will offer all who visit it an unforgettable experience and make America proud.”
Locke further praised Walmart's High Efficiency store: “This eco-friendly site showcases the way American energy efficiency technologies, from companies like Honeywell, Copeland-Emerson, Carrier and Otis, can reduce the environmental impact of a large retail store. It’s a good example of Walmart’s willingness to lead by example.”
The Beijing Walmart High Efficiency flagship store uses a variety of energy saving solutions. Annually, the store saves 23.28 on electricity and 16.85 percent on water. They have an annual energy savings of 1,396,800 kWh. In other words, their energy savings per year could power 349 homes for a year. It has a payback period of 2.56 years using a 2005 baseline.
The project is supported by Secretary Locke, Chinese government officials from the Ministry of Environmental Protection and Ministry of Commerce as well as representatives of companies Honeywell, Copeland-Emerson, Carrier and Otis.
Ed Chan, President & CEO of Walmart China, remarked, “Walmart is delighted to partner with the USA Pavilion at the Shanghai Expo 2010 and to have the support of Secretary Locke. The Expo theme of ‘Better City, Better Life’ is aligned with Walmart’s mission of helping people save money so they can live better, and embodied in the company’s longstanding commitment to China and the communities around the world where we do business. We are especially excited about the USA Pavilion’s “sustainability” theme, because at Walmart, we believe that being an efficient and profitable business goes hand in hand with being a good steward of the environment.”
USA National Pavilion Co-Chair Ellen R. Eliasoph remarked, “We are thrilled to have the support of Walmart, whose commitment and approach to sustainability are a model for companies around the world. We look forward to working with Walmart to showcase its unique contributions in this area.”
Back to Financial Press Releases