Wal-Mart, Clinton Climate Initiative in Partnership
NEW YORK (Reuters) - Wal-Mart Stores Inc said on Thursday it has partnered with the Clinton Climate Initiative to explore ways to use purchasing power to lower prices on "environmentally-friendly" technologies such as energy efficient building materials and lighting.
The two organizations said they will collaborate on the design and discovery of new products and work together to source new products.
"By combining our resources, we can help drive innovation, create new technology markets and ultimately reduce this country's dependence on foreign oil," said Lee Scott, president and CEO of Wal-Mart, in a statement.
One of the technologies the partnership will explore is energy-efficient LED lights for parking lots and street lamps.
By switching to LEDs, Wal-Mart, the world's largest retailer, estimates that cities could save 50 percent on street lamp energy consumption and reduce maintenance costs by 80 percent.
Additional technologies the partnership will explore include interior LED lighting, variable-speed heating ventilation and air conditioning technology (HVAC) and solar power purchases.