U.S.-based retail giant Walmart has unveiled new initiatives to reduce its global carbon footprint while preserving the world's natural land and sea habitats.

The company announced Monday that it is aiming for zero carbon emissions by 2040 in all of its global operations by utilizing 100% renewable energy in all of its facilities, switching to an all-electric vehicle fleet, and transitioning to low-impact refrigerants for cooling and electrified equipment for heating in all of its stores and other facilities.

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The so-called "big box" retailer is also pledging to preserve at least 20 million hectares of land and 171 million square kilometers of ocean by 2030, including the preservation of at least one acre of natural habitat for every acre of land it develops in the United States, and adopt natural preservation techniques such as regenerative agricultural practices, sustainable fisheries management and forest protection and restoration.

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Doug McMillon, Walmart's president and chief executive officer, said in a statement the company aims to become one "that works to restore, renew and replenish in addition to preserving our planet, and encourages others to do the same" through its new environmental commitments.

According to the Fortune Global 500 list of 2019, Walmart is the world's largest company by revenue. It is also the largest private employer in the world with 2.2 million employees. (VOA)