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Wal-Mart CEO Lee Scott told a Wall Street Journal economics conference this week that the retailer is “gaining momentum because people need us more than ever” because of rising gasoline prices and food costs.

Among the real growth areas, according to the story about the conference, have been private label food products and apparel.

Also at the meeting, Scott conceded that while the retailer has taken many high-profile environmental initiatives in recent years, Wal-Mart is “not green.” He agreed that despite all his efforts, Wal-Mart’s global carbon footprint has continued to grow…a result, he said, if the company’s need to continue to grow.

The WSJ writes, “Asked when he expected the company to meet his goal of having zero waste and 100% renewable energy over time, Mr. Scott said, ‘I haven't a clue’.”

KC's View:
I don't think Scott is being disingenuous on the environmental issue…I think he is trying to do the right thing when it comes to sustainability because it makes 1) economic sense and 2) ethical sense. And I think it takes longer and is more complicated than any of us would like…but that Scott and Wal-Mart get major props for trying to do the right thing.