Showing posts with label consumer demand. Show all posts
Showing posts with label consumer demand. Show all posts
Saturday, June 27, 2015
Market Based Green Growth: Natural Capital and Sustainable Economic Growth (Videos)
Tuesday, June 10, 2014
The Monetary Value of Toronto's Trees
"Urban forests do more than beautify the scenery," the TD bank's chief economist Craig Alexander said. "They represent an important investment in environmental condition, human health and the overall quality of life."
Monday, May 26, 2014
UNEP's NCD Roadmap: Implementing the Four Commitments of the Natural Capital Declaration
The core objectives of Phase ll of the NCD are to
1. Stimulate Financial Institutions that have signed up to the NCD to show progress towards implementing the NCD commitments.
2. Develop practical tools and metrics to integrate natural capital in all asset calsses and rlevant financial products.
3. Increase the number of signatories so as to build a greater level of acknowledgement within the financial sector about the materiality of natural capital.
UNEP's Natural Capital Declaration (NCD)
Saturday, April 26, 2014
Video - Pricing Nature is Far Harder than you Think
While there is a lot of interest in market based solutions to price nature, it is far harder in practice than it would appear in theory. This short animation from Joss Tantram, partner at UK sustainability strategy firm Terrafiniti, LLP, explains in very simple terms some of the problems associated with pricing ecosystems.
Thursday, April 24, 2014
Rhino Horn Economics: The Perils of Putting a Price on Nature
Rhinos are being hunted to extinction for their horns, which are considered to be a magical cure-all in some traditional Asian cultures. The trade in rhino horn is currently illegal, but one approach to address this problem strives to indulge the demand by farming them. The advantage to this approach is that the horn can be removed without killing the animal, thereby protecting the animal from extinction.
Thursday, April 21, 2011
The Rise of the Green Consumer
Increasing numbers of consumers are considering green factors in their purchase decisions. According to Forrester Research, 41 percent of the U.S. population are either interested in or are already purchasing from green companies or they are choosing green products and services. The Natural Marketing Institute reports that 63 million adults in the United States are considered lifestyles Of health and sustainability (LOHAS)consumers.LOHAS consumers spend more than $230 billion dollars per year and are much more likely to purchase from a company that shares their green values.
An extensive survey of 1,254 international executives by the Economist Intelligence Unit on corporate responsibility showed that do-gooder companies [companies that implement strong green programs] … saw profits rise 16% last year [2007] and enjoyed price growth of 45%.” Perhaps the most interesting aspect of this study was that “companies that rated their own sustainability [green] practices poorly registered only 7% profit growth and 12% price growth.
Although current research on consumer attitudes towards green is murky, taken as a whole the trend in this data offers compelling reasons for businesses to adopt green programs and communicate green efforts to customers.
© 2011, Richard Matthews. All rights reserved.
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US Consumer Attitudes on Green
The most significant obstacle to the growth of the green economy involves consumer ignorance. Consumer attitudes on the green market need to be understood in the context of consumer segments. Exaggerated reporting also confounds an accurate portrayal of consumer attitudes on green.In a recent GreenBiz article, Joel Makower provided his annual review of surveys, polls, and analyses related to the green market. His review of the research suggests that a lack of understanding about climate change is adversely impacting US consumer attitudes toward green business and green shopping.
Despite the plethora of consciousness raising events, the American public is confused about climate change. A report by the Yale Project on Climate Change Communication found that while 63 percent of Americans believe that global warming is happening, “many do not understand why.” This study echoed other research that indicates many Americans do not understand the issues surrounding climate change.
Americans have growing misconceptions about their actions. The Shelton Group, found that “more Americans than in previous years 1) think that they’re doing more than they really are, 2) think that they’re doing all that they can, or 3) think that they’ve done enough already. All three of these perceptions are troubling because they increase resistance to taking on the more substantial home improvements that truly reduce energy consumption.”
Research by the polling firm Harris Interactive found a one-year drop in the number of Americans who say they are “going green.” American adults, “are now less likely to engage in various green behaviors in their daily life,” says Harris, including purchasing locally grown produce, locally manufactured products, and organic products; using less water; and composting food and organic waste.
American consumers are unimpressed, according to the Cone Shared Responsibility Study, 75 percent of American companies get a grade of ”C” or worse when it comes to how well they are engaging consumers around critical social and environmental issues.
On a brighter note, the public’s awareness of sustainability is growing. According to the Hartman Group, 15 percent more consumers are now aware of the term “sustainability” compared to three years ago (69 percent in 2010 vs. 54 percent in 2007). However, with only 21 percent of consumers able to identify a sustainable product and only 12 percent able to name a sustainable company, consumers still do not understand what is meant by sustainability in the marketplace.
While companies are becoming more sustainable, they are not effectively communicating their sustainability efforts to consumers. According to the Sense & Sustainability study by the public relations firm Gibbs & Soell, 29 percent of executives believe that a majority of businesses are committed to “going green,” compared to only 16 percent of consumers.
When considering consumers’ attitudes towards green, it is important to acknowledge that different market segments are going green at different rates. According to the advertising insight firm Crowd Science, men over 55 are almost twice as likely to hold the opinion that shopping for green products makes no difference. Conversely, Harris Interactive research found that lesbian, gay, bisexual and/or transgender (LGBT) adults are increasing their personal commitment to environmental issues faster than their heterosexual counterparts. A majority (55 percent) of LGBT adults say they “personally care a great deal about the current state and future of the environment,” compared to just 33 percent of heterosexual American adults.
Although there are risks, there are also tremendous opportunities for companies who are ready to honestly and clearly engage customers through new media. Consumers want to contribute, but the perception is that the companies do not want to listen. According to Cone, 84 percent of Americans believe their ideas can help companies create products and services. But only 53 percent of consumers feel companies are encouraging them to speak up on corporate social and environmental practices and products. Cone found that 92 percent of consumers say they want companies to tell them what they’re doing to improve their products, services and operations. But 87 percent believe that companies share the positive information about their efforts, but withhold the negative. Many consumers (67 percent) say they are confused by the messages companies use to talk about their social and environmental commitments.
Research by the Natural Marketing Institute, found that four out of five of the consumer segmentations it tracks are “much more involved in the sustainability marketplace and lifestyle than they used to be,” as NMI’s Gwynne Rogers told Makower earlier this year, only one segment, the “Unconcerneds,” representing 17 percent of the marketplace, are holdouts.
When parsing data derived from surveys, it is important to understand that consumers profess a higher level of interest in environmental shopping and living than they actually demonstrate in their actions. For example, at the beginning of 2011, a survey by Opinion Research for the paper company Marcal revealed that 80 percent of Americans planned to be greener in 2011, but as noted by Makower, consumers are more exuberant about green shopping in word then they are in deed. NMI’s research recently led one green marketing author to say that “83 percent of consumers … are some shade of green.” But once again these numbers are a function of exaggerated statements made by consumers that do not match their actual buying behaviour.
More realistic figures come from reports like Brand Sustainable Futures, by Havas Media and MPG. They found that while sustainability remains a key issue for consumers worldwide, only 5 percent of US consumers always consider environmental/social aspects when making purchase decisions. Their research reveals that American consumers are deterred by confusion, lack of clarity and perceived higher prices.
The recession has had an impact on the priorities of Americans. Gallup found the widest margin in nearly 30 years in Americans prioritizing economic growth (54 percent) over environmental protection (36 percent). “Americans for the most part have given the environment higher priority since Gallup first asked this question in 1984.”
A BBMG report on The New Consumer — defined as that portion of the US adult population that are “values-aspirational, practical purchasers who are constantly looking to align their actions with their ideals; yet tight budgets and time constraints require them to make practical trade-offs every day.” BBMG estimates about a third of Americans fall into this category, but only one in three “strongly agrees that it’s important to purchase products with social and environmental benefits, even in a tough economy.” According to these numbers, only about 10 percent of the population consistently make green buying decisions. That seems a more realistic appraisal of who’s really committed to green shopping and lifestyles.
According to BBMG, the New Consumer represents US demographics but skews younger, female, and educated. BBMG research indicates that New Consumers are looking for brands that deliver “total value” — products that work well, last longer, cost less and, hopefully, do some good. They want brands that deliver the “triple value proposition” — uniting practical benefits (e.g., cost savings, durability and style), social and environmental benefits (e.g., local, fair trade and biodegradable), and tribal benefits (e.g., connecting them to a community of people who share their values and aspirations).
Americans need to be informed about the basics regarding climate change and consumers’ interest in green comes down to the value proposition (energy savings, health) and acceptable tradeoffs (higher prices, inconvenience).
Source: Global Warming is Real
© 2011, Richard Matthews. All rights reserved.
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Monday, February 28, 2011
Social Media Marketing and Environmental Sustainability
As we reviewed in a preceding post, social media can be used as a weapon against unsustainable businesses, but it can also be a powerful tool to help companies to engage in conversations with an environmental theme.Social media sites have changed the way we communicate, not only by connecting people, but by providing valuable promotion opportunities. With research showing that Americans now expect companies to have a social media presence, companies cannot afford to avoid this marketing channel.
Most leading companies employ social media, however, small and mid-sized companies are actually better candidates for social media because they are more agile than larger companies.
Research conducted in 2009 by Minneapolis-based Russell Herder and Ethos Business Law surveyed management, marketing and human resources executives within companies across the US. This survey revealed that the most popular Social Media Channels are Facebook (80%), Twitter (66%), YouTube (55%), LinkedIn (49%) and Blogs (43%).
In association with efforts like search engine marketing, search engine optimization (SEO), pay per click advertising (PPC), and online branding, social media sites like the ones listed above can be an important part of green marketing.
Social media sites provide opportunities to network with those with shared interest and link up relevant causes. Facebook, Twitter and Youtube are the largest and best known social media sites, but some social networking sites focus exclusively on green issues (e.g., Greenwala, WiserEarth and MakeMeSustainable).
Posting articles, ads, updates, pictures and videos on social media sites drive traffic. However, such posting does not help search engine rankings because backlinks from sites like Facebook are not given any value by search engine crawlers. For SEO purposes it is important to get sites to post links to your site. This can be achieved by asking site owners to post your link, but one of the best ways to achieve this is to publish organic content.
Join green groups, and explore green apps and events. Check out LinkedIn's events calendar and connect with other green business people. Blog about green issues, customize your profile with green widgets, videos and updates. Join up with causes, on Facebook add a causes app that allows you to raise awareness and help raise funds.
The best social media campaigns avoid over-selling and are focused on organic content. A step by step roll out is usually preferable to an all at once approach. Social media is a conversation not a monologue, so it is best to listen much more than you sell. Successful campaigns employ frequent posts, involving items of interest to a defined target market. These posts should encourage a dialogue through comments and a forum for conversation.
Encouraging participation is one of the keys to using social media effectively. One of the easiest ways to foster participation is to start a contest or offer coupon codes with enticing value. Self interest is always the most compelling reason for people to act, but a social media campaign should also provide incentives to share with others. This can sometimes be achieved by offering an environmentally redeeming message.
It is not enough to be environmentally sustainable, organizations must also effectively communicate this effort. A great example of an organization using social media comes from the Co-operators Youth Conference for Sustainability. Its success can be attributed to several factors including the ability to share stories online, proven learning materials and a high profile partnership with David Suzuki. A survey produced by Hewitt on employee engagement, indicated that 94% of Co-operaters participants believe the company is socially and environmentally responsible.
Enterprises that are using social media promotion to promote their brand and serve the environment include the Pepsi Co. Social media is not only for communicating it is also a powerful technology for market research. According to ReadWriteWeb, in 2011 companies are harnessing the power of the social media to “inform strategic decisions, and execute on the organization’s objectives, marketing plans, product roadmaps and more.”
There are many examples of how Enterprises and organizations are using social media for external marketing, but many are also using social media internally for collaborative learning and/or performance and productivity improvement.
Online social networking is sewn into the fabric of our daily lives, and companies that promote their green initiatives with social media are doing good for the planet while engaging in effective marketing communications.
© 2011, Richard Matthews. All rights reserved.
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Sunday, February 27, 2011
The Growth of Social Media as an Increasingly Important Vehicle for the Environment
The rapid growth of social media has made it a revolutionary force for prosocial change. Facebook is a great illustration of this rapid growth. In less than seven years Facebook has accrued more than 500 million users. This gives Facebook the distiction of having more users than the population of any country in the world except China and India.Organizations of all sizes are incorporating social media into their marketing programs. According to Kiwano, 9 in 10 organizations use social media in Canada and thirty-one percent say social media plays a major role in public communications around their brand.
There are many social media campaigns that have benefited the environment including 10/10/10, Earth Day, Earth Hour and WWF's Online Event. These events relied on social media tools to facilitate massive public participation.
Nowhere is this growth more evident than during the most recent social media week conference. In 2011, the fourth social media week was celebrated between February 7-11. The two year old social media week conference has become one of one of the world’s most important platforms to explore emerging trends in social and mobile media.
Here are the nine cities took part in the first social media week conference of 2011, Rome; São Paulo; Toronto; Paris; San Francisco; London; Hong Kong; Istanbul; and New York. Around the world there were over 1,800 speakers and 600 events. More than 30,000 participants were present, an additional 80,000 unique viewers watching events live via Livestream.com and nearly 200,000 unique visitors engaging through Socialmediaweek.org. Real-time conversations included more than 75,000 tweets shared during the week, which created almost 300 million impressions in the social sphere, according to social media monitoring company Sysomos.
“This year’s Social Media Week was a truly global phenomenon—showcasing borderless brands and communications, via the power of social media,” said Bonin Bough, Global Director of Social and Digital Media for PepsiCo. “We are proud to have been an integral partner—with PepsiCo employees contributing to discussions and idea exchanges on three continents and there, demonstrating the depth and breadth to which digital media is permeating our company.”
“Social Media Week is more than an event, it’s a movement,” said Nokia’s Craig Hepburn, Global Director, Digital. “Such an innovative event that taps into the human networks of people across the world and encourages sharing and best practice will move us forward faster and more effectively than traditional event silos.”
© 2011, Richard Matthews. All rights reserved.
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Friday, February 25, 2011
The Revolutionary Power of Social Media Driving Corporate Environmental Sustainability
Businesses are increasingly reckoning with the revolutionary power of social and mobile media. New media is impacting our lives and changing the way we connect and communicate. In places like Egypt and Tunisia, social media has demonstrated itself to be a formidable force that is even capable of toppling governments.Social media sites like Facebook and Twitter, give individuals and businesses the ability to correspond with vast audiences.
There are many examples of social media's power to change corporate behavior. With the help of social media, environmentalists managed to reduce illegal logging of rosewood and other hardwoods in Madagascar. When a French company called Delmas continued with their shipments of illegally harvested rosewood, thousands of messages were directed at the company and the French government. This forced Delmas to cancel a major rosewood shipment (worth between $20-80 million), they then put an end to their rosewood business a few weeks later.
No one knows the power of social media better than Greenpeace. They have managed to force Nestle to adopt more sustainable business practices that will lessen deforestation in Indonesia. The scope and influence of new media are hard to resist. When Nestle tried to launch a misinformation campaign, social media users unearthed a multitude of Nestle's questionable business practices including the illegal extraction of groundwater in Brazil.
According to a BBC documentary, pressure from individuals is causing big corporations to flex their supply chain muscles. Food and cosmetics manufacturer Unilever dropped Sinar Mas Agro Resources and SMART for clearing rainforests and carbon-dense peatlands. Nestle, Kraft, Burger King, and General Mills have all followed Unilever's lead.
Pressure brought to bear through social media is driving corporations to cleanup their supply chains. Some businesses are responding to this pressure and changing the way they source commodities. Cargill, is now pressuring SMART's parent company, Golden Agri Resources, to clean up its operations. In the summer of 2009, a Greenpeace report on deforestation in the Amazon, caused Nike to make their supply chains more sustainable.
The World Bank suspended lending to all oil palm plantation projects, after the Wilmar Group, was found to be environmentally irresponsible and Cadbury New Zealand stopped using palm oil altogether after consumer complaints. This kind of public pressure has not only arrested the clearing of land in these areas, it has strengthened the market for sustainable palm.
The ability to foster change proves that social media has come of age. Social media is a powerful communication and coordination tool. As long as environmental groups accurately present the facts regarding a companies environmental problems, they are performing a highly beneficial public service.
Individuals now have the power to make businesses cleanup their supply chains, and adopt more environmentally friendly approaches to business. As the targets of these campaigns know, social media can seriously damage a firm’s reputation.
Companies must now acknowledge that the revolutionary power of new media make the risks associated with irresponsible business practices a serious threat.
© 2011, Richard Matthews. All rights reserved.
Next: The Growth of Social Media as an Increasingly Important Vehicle for the Environment / Social Media Marketing and Environmental Sustainability
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Wednesday, December 22, 2010
Growing Demand for Greener Vehicles
Demand for electric and hybrid cars has risen dramatically in recent years. The steady growth in this market is driven by a wave of new technologies, shifts in global competition and changes in public policy.We have come to expect green vehicle development from nations like Japan, South Korea, China, Germany and France, but even lesser automotive powers are responding to this growing international demand. Public opinion is getting behind greener vehicles.
Governments and private enterprise are responding to this growing demand. Consistent with public policy initiatives all around the world, Russian President Dmitry Medvedev is joining the chorus of countries that see electric and hybrid vehicles as a fundamental part of the move to a low carbon economy. Russian car maker YAROVIT Motors and financial company Onexim Group are making an electric hybrid vehicle called the E-Mobile (or Yo).
Demand for greener vehicles is growing almost everywhere. Even in America, where the public has been brainwashed by Republicans and corporations that are beholden to the old energy economy, acceptance of the new environmental and economic realities is growing. According to a 2010 survey from Ernst & Young, nearly 30 million Americans would consider buying a hybrid or fully electric vehicle. The commercial transportation industry is also getting serious about greener vehicles.
A late-2009 report from Pike Research forecast that hybrid fleet sales would increase from 300,000 in 2009 to nearly 4 million hybrid vehicles by 2015. "Manufacturers are beginning to turn their attention beyond light duty vehicles to the efficiency opportunities for hybrid drive in heavy trucks," Clint Wheelock, a managing director at Pike, said in the report. "For example, in North America nearly 10 percent of buses sold in 2015 will be hybrids."
A new study by California-based J.D. Power and Associates indicates that battery-based vehicles are likely to capture 7.3 percent of the global automotive market. However, J.D. Power researchers say that several factors could radically increase that number. These factors include battery cost reductions, increases in petroleum prices and new government mandates.
In a speech at the Fortune Brainstorm Green 2010 conference, Ford Motor Co. Chairman William Ford outlined some of the key forces influencing the demand for green cars in the US.
Federal subsidies are critical because, as Ford explained, it is "really important that we are competitive as a nation in this really critical technology." Removing subsidies would be a mistake because "that's not what other countries are doing."
China's funding of green automotive tech makes China a competitive threat. "They all have plans to come over, and we would be absolutely crazy" to underestimate China's affect on the US auto market, Ford said.
To make it easier to adapt to changing demand, Ford is developing common platforms using existing car models.
Due to increasing global urbanization automotive companies may consider alternatives to traditional ownership and leasing arrangements and provide "mobility as service," such as car sharing programs.
However, there are limits to the number of battery powered electric vehicles that can be manufactured. Lithium is a key ingredient in advanced batteries. The future demand for lithium is expected to outpace supply. Companies like BYD are already looking for new sources of lithium. According to a European Commission study of raw materials for high technology goods, if drivers continue opting for battery powered electric cars, by 2050 the supply will not be able to keep up with the demand.
To achieve real market penetration greener vehicles must appeal to consumers through features, functionality and price. Creative innovation in both business models and technology, will drive demand in the greener car market.
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Monday, July 12, 2010
Canadian Guidelines on Environmental Claims
The Competition Bureau of Canada and the Canadian Standards Association have developed guidelines based on ISO 14021 detailing the appropriate use of environmental terms. Their guide reflects the most current, internationally accepted, best practice information on the use of environmental claims. The guide is designed to help level playing field; reduce the risk of communicating misleading environmental claims; provide an incentive to improve environmental performance; and meet the growing consumer demand for products and packaging to have a reduced environmental impact.The second edition of the guideline titled Environmental Claims: A Guide for Industry and Advertisers, was published in June 2008 by Canadian Standards Association, a not-for-profit private sector organization. It supersedes the previous edition published in 2000, entitled The CAN/CSA-ISO 14021 Essentials.
The first objective of this guide is to provide the users of ISO 14021, with a best practice guide to the application of the standard and some practical examples of how the standard could be applied to environmental claims in the Canadian marketplace.
The second objective is to provide assistance to industry and advertisers in complying with certain provisions of the Competition Act, the Consumer Packaging and Labelling Act, and the Textile Labelling Act.
This guide provides examples of preferred approaches and discouraged approaches to illustrate commonly used environmental claims; shows how to avoid misleading or deceptive claims relating to an implied or expressed environmental benefit; establishes the guidelines for Mobius loop markings; and suggests methodologies for tests that can be used to clarify claims.
The guide offers best practices for complying with the provisions that prohibit false or misleading representations. Download the entire document (PDF, 589 KB, 72 Pages) .
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Monday, April 26, 2010
Earth Day 2010: The Business of Green
The first Earth Day was in 1970, it was a grass roots movement by people seeking to protect our environment. Now many leading environmental advocacy organizations accept sponsorships from corporations and these partnerships are helping to change social behavior.On Earth Day, businesses large and small play varying roles supporting the transition to more sustainable commerce.
Many companies are using Earth Day day as a premier marketing platform for selling a variety of goods and services. Businesses are using Earth day as an opportunity to inform their customers about their environmentally friendly initiatives but the business community is also increasingly leading the way in environmental innovation.
The Earth Day Network and Proctor & Gamble are collaborating on social networks. With the launch of the Billion Acts of GreenTM Facebook and iPhone applications, friends, family and followers are being asked to issue pledges of at least one "act of green" and share it with their Facebook network.
Greenpeace is working with technology giants like Cisco and Google to disseminate information on technologies like videoconferencing and "cloud" computing that can reduce a company's carbon footprint.
With the help of PepsiCo. NYC is reducing its impact on the environment in partnership with Keep America Beautiful, a nonprofit organization, that is introducing "dream machines," recycling kiosks. These machines are meant to increase the recycling rates for beverage containers, which is estimated at only about 36 percent nationwide.
Other smaller enterprises are also taking part. Fore example, across the US gardening businesses went into schools to encourage children to grow vegetables or plants as part of the Earth Day celebrations.
Most businesses are keeping an eye on the demand for environmental offerings. Smart businesses are responding to those seeking greener poducts and practices.
Although we still have a far way to go, increasingly consumers and business are being drawn together by the kind of free market capitalism that will build a more sustainable world.
_________________________________
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One Million Acts of Green: The Human Network Effect
What Business Can Do To Help Manage Climate Change
Friday, April 9, 2010
The Overwhelming Logic of Sustainable Business
Steady consumer demand and the rapid growth of green industries, makes sustainable business very appealing. Sustainable strategies and best practice are an increasingly important part of basic business planning.Those businesses that showed leadership in the early years are reaping the benefits. The companies that broke into the green market first are now leading the Dow Jones Sustainability Index.
Today green is not just about adding cache, it is increasingly a matter of survival. Using less energy per unit of output, reducing waste, and using less water are all part of efficiency efforts that decrease costs and contribute to the bottom line. Many of the world's most successful business owners recognized the value of efficiency long before it was fashionable.
Numerous consumer and industry reports are corroborating the ongoing growth of the green market. According to Mintel, US consumers are still willing to pay more for green products despite the recession. In the recently published paper “Going Green to Be Seen: Status, Reputation, and Conspicuous Conservation,” Griskevicius and co-authors find that people will forgo luxury and comfort for a green item.
Despite a decline in venture capital due to the recession, clean energy continues to grow and in 2009 it accounted for 12.5 percentage of total US venture capital investments.
According to a report entitled Clean Energy Trends 2010, the three major clean energy sectors, solar, wind power, and biofuels, grew world-wide to almost $140 billion in 2009, an 11.4% increase over 2008 revenue numbers.
The report also indicates that wind power is projected to expand from $63.5 billion in 2009 to $114.5 billion in 2019. Last year's global wind power installations reached a record 37,500 MW. China, the first-time global leader in new installations, accounted for more than a third of new installations, with 13,000 MW.
The same report indicates that solar photo voltaic (PV) sector is expected to grow from a $30.7 billion industry in 2009 to a $98.9 billion industry by 2019. New installations reached almost 6 GW worldwide in 2009, a nearly six fold increase from five years earlier.
The global solar PV and wind power industries together currently account for a total of more than 830,000 jobs worldwide. By 2019, global industry growth will push the total to more than 3.3 million jobs.
There are many economic inducements to go green, while ignoring climate change is expected to result in unacceptable costs to life and property. One study claims that global warming already is causing 300,000 deaths and $125 billion in economic losses annually.
Sustainable businesses are more efficient and more competitive, they provide jobs, and generate economic activity while reducing the impact on the environment. The logic is overwhelming and unavoidable, becoming more sustainable just makes sense.
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Wednesday, July 8, 2009
Consumer Demand for Green
Green is increasingly part of almost every survey measuring consumer interests and/or buying behaviour. A well informed public is asking businesses to make more responsible choices and rewarding those that do with their patronage. In response businesses of all sizes are finding ways to make their operations more sustainable and environmentally responsible.A recent article written by Dr. David Suzuki and Dr. Faisal Moola indicates that, "protecting our planet is no longer seen as a fringe activity. Most people now consider themselves to be environmentally aware and are taking steps to help. Caring for the environment has become mainstream – it’s the “new normal. Businesses respond to consumer demand, and the right demands can result in real benefits for the environment."
With the help of the David Suszuki Foundation, the Overwaitea Food Group has adopted a program that emphasizes sustainable seafood. Overwaitea president, Steve van der Lees said, "doing the right thing always pays off.”
As Kathleen McLaughlin writes, in an article entitled "Consumers Want Green Furniture Options, "environmentally friendly has transcended from a buzzword to a multi-million dollar revenue generator spanning many industries."
A "2008 Green Marketing Consumer Study," sponsored by the Sustainable Furnishing Council, indicates that appoximately half of respondents are "very interested in global warming and have started doing what they can, with the No. 1 action being to buy green products in a variety of categories."
According to another report, a majority of respondents indicated that businesses should reduce greenhouse gas emissions. The report also indicated that people are more likely to purchase products bearing a seal that proves corporate sustainability commitments.
Earlier this year Joel Makower wrote an article in which he reviewed the marketing data on Green and discovered that the vast majority of consumers say they have adopted, "greener habits in their daily lives, and shop for at least some products with a keen eye on their environmental provenance and energy and climate impacts. In other words: the marketplace is getting greener -- way greener.."
Consumers do not appear to be deterred by the current state of the economy. One study quoted by Makeover indicates that 82 percent of Americans say they're still buying green products despite changes in the economy.
Consumers have expressed real interest in making Greener purchases in everything from seafood to furniture and the business community is responding to this ever increasing consumer demand.
Business owners simply cannot afford to ignore consumers because if they fail to respond to consumer demand for Green, others will seize the opportunity.
Related Articles
The Future is Green
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People Remain Loyal to Green Even in an Economic Downturn
Green Drivers
The Greening of Cyberspace
Carrotmobs: Adding Incentives to the Consumer Arsenal
Green's Bottom Line: Staying Competitive in Volatile Economic Times
Efficiency and Auto Industry Bailouts
Financing the American Auto Industry
Green Stimulus and Free Markets
Creating a Sustainable Future
An Open Model of Innovation
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