New research has found that many businesses are not prioritising sustainability. However, the consumer demand for sustainability has not wavered. Businesses for the near term are looking toward maintaining their environmental credentials, but not doing any more to ensure their business continues to become environmentally sustainable.
This shift in business is mainly due to current economic circumstances. The cost of keeping business operations going has already forced some businesses to reduce services or close completely. The cost of energy has been arguably the biggest expense for businesses now, with a lot of businesses seeing a significant increase in their bills.
However, when looking at consumers’ opinions, they are still expecting businesses to still be practising environmental action. A lot of the public is currently concerned with the effect the cost-of-living crisis is going to have on the environment with policymakers potentially backtracking on green policies.
Given the cost-of-living crisis, consumers are shifting to become more concerned about the availability of sustainable and affordable products. People are also currently actively switching to an environmentally friendly lifestyle to reduce environmental impact and cut costs.
Concern for environmental issues is becoming a lot more apparent as global consumers are seeing the personal effects of climate change. For example, this summer countries across Europe and the UK have seen record-breaking heat and droughts which have further affected the price of necessary products such as food and energy. This has prompted an increased desire for environmental protection.
Due to this research, it is clear there is going to be a gap in the market between businesses that abandon environmental practices and those that couple sustainability and affordability to generate further profits. Businesses that focus on prioritising sustainability are also likely to save their business money in the long run which will help strengthen their bottom line and ability to survive through further economic hardship.
How can your business become sustainable?
Although environmental sustainability is becoming increasingly important, it is not easy for businesses to stay on track with this.
However, with our net zero services, you can let us work with you to develop a carbon management plan and gain competitive market advantages. We can help future-proof your business and maximise savings with our plans that can be completely customisable to your business.
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