Wal Mart phases out illegal wood

Wal-Mart this week announced plans to stop purchasing furniture made with wood from unknown sources, and committed to increasing its selection of certified-wood products.

Bentonville, Ark.-based Wal-Mart (NYSE: WMT) recently joined the Global Forest & Trade Network (GFTN), an initiative of the World Wildlife Fund. The company this week announced plans to investigate its wood furniture supply chain and phase out any furniture made with wood obtained from illegal sources.

The retail giant's current wood furniture purchasing practices were made public in December 2007, when the Environmental Investigation Agency reported that some of the wood furniture sold at Wal-Mart stores is made with timber obtained through illegal logging.

China provides up to 84 percent of Wal-Mart's wood furniture, according to the report. China obtains much of its wood from the Russian far east, a region where endangered tigers breed and one the World Wildlife Fund is working to protect.

Wal-Mart, which sells more furniture than any other U.S. retail chain, says it plans to complete its assessment of its wood furniture supply chain within the next year.