Afternoon Coffee: Wal-Mart Launches Project to Reduce Emissions in Supply Chain, Big Beef’s Beef with Trump

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Wal-Mart launched a sustainability program Wednesday that focuses on reducing emissions in its operations and supply chain by working closely with suppliers, according to a press release. Called Project Gigaton, the initiative “will provide an emissions reduction toolkit to a broad network of suppliers seeking to eliminate one gigaton of emissions, focusing on areas such as manufacturing, materials and use of products by 2030.”

Big Beef’s Trade Beef

The U.S. beef industry, one of the most ardent backers of the Trans-Pacific Partnership (TPP), is lobbying the Trump administration to deliver a replacement to the defunct trade agreement that is “at least as favorable,” CNBC reports. Japan’s tariff on U.S. beef, for example, was slated to drop to 9% from 38.5% over the next 16 with TPP, and beef lobbyists are expecting any new pact to guarantee similarly favorable conditions.

China and Coal

China’s Tianjin Port will stop receiving coal by truck and by the end of April will clear its storage warehouse of the commodity, Reuters reports. The move, executed months earlier than expected, reflects a strong government push to reduce smog in the country.

Pound Rises

And finally, a forex update: The British pound jumped over 2% against the dollar Tuesday after Prime Minister Theresa May called for an early election, the Wall Street Journal writes. Winning a larger conservative majority could yield more stability for the government as it heads into Brexit negotiations, creating a more attractive market situation for sterling.

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