Can the Pariah be Rehabbed?Few companies raise the ire of the SRI crowd — or any other crowd, for that matter — as much as Wal-Mart (NYSE:WMT). Most readers of Green Options do not need for me to recap all of the allegations of exploitative wages, sweatshop abuse, sprawl-mongering, Main Street destruction, and overall corporate rapaciousness. Yet, in the last year, the company has unveiled the following initiatives:

• Wal-Mart Sustainable Packaging Value Network. The company is leading the largest effort in the retail industry to encourage sustainable packaging not only at its own stores, but throughout its value chain.
• ASDA, Wal-Mart's British subsidiary and the 2nd largest grocer in that country, has pledged to reduce its packaging by 25 percent by the end of 2008.
• The company has pledged to sell 100 million compact fluorescent lights, a goal which, if achieved, would save American consumers $3 billion in energy costs, and prevent the emissions equivalent to a fleet of 700,000 vehicles.
• The company has recently become the 2nd largest private purchaser of renewable power, second only to Whole Foods Market.
• The company is testing several concept stores, designed to use zero net energy. Succeeding would not only reduce Wal-Mart's giant impact, but it would light the way for other big box retailers.
• Wal-Mart has long had a favorable reputation among SRI investors who make diversity their social criteria. The company is among the largest employers of black and hispanic managers in the country, far exceeding some of its more unionized critics.

I am sure I missed some other initiatives, since CEO Lee Scott has been on a whirlwind tour promoting them all. If Wal-Mart even partially succeeds in accomplishing what it has announced, the net impact will be greater than the comparatively tiny initiatives of Target, Costco, Kohl's, Sears, and KMart combined. If British Petroleum (NYSE:BP), an oil company for Pete's sake, can be sainted in SRI circles, why should Wal-Mart continue to get such a bad rap?

In addition to BP, large companies have shown before that they can change their stripes. Nike (NYSE:NKE) used to be known as a sweatshop pariah. Now, they lead the charge against sweatshop abuses. Dell, Inc. (NASDAQ:DELL) faced e-waste picketers not more than four years ago. Now, they have the most comprehensive e-waste policy of any computer manufacturer. Denny's (NASDAQ:DENN) was once handed the most severe punitive judgement ever for discrimination. Now, they are getting awards.

What do you think? Is this Greenwashing, or has Wal-Mart gotten the religion?