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78 percent of consumers in the United States say they feel better when they buy products that are produced sustainably.
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It is recorded that 21 percent of those surveyed would actively choose a brand if it made its sustainability credentials visible.
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It is estimated that there is an opportunity of 966 billion euros for brands that are committed to sustainability.
The mentality of many companies in the world have changed and all this due to the consumption habits of people today. Given that, a new report mentioned that business leaders view sustainability as an expensive obligation rather than an investment in the future.
In recent years, new issues have emerged such as business sustainability, which we can define as those companies that create economic, social and environmental value in the medium and long term to contribute to the well-being of the communities where they operate and of future generations.
According to specialists, companies with sustainable development do not exclusively seek profitability, but are also concerned with protecting the environment and making a more equitable distribution of resources and profits.
All this comes from living in a market where consumers increasingly value the practices and commitment of brands, with sustainable development, they have a competitive advantage.
According to a Unilever report, a third of consumers 33 percent are choosing to buy brands with a social or environmental profile. Therefore, the same source highlights that it is estimated that there is an opportunity of 966 billion euros for brands that are committed to sustainability.
The same research details that the study showed that 21 percent of respondents would actively choose a brand if it made its sustainability credentials more clearly visible on its packaging and in its marketing.
Business leaders and sustainability
A new report from the Capgemini Research Institute, “A World in Balance: Why Sustainability Ambition Fails to Translate into Action,” found that 21 percent of executives believe they are clear on their brand sustainability strategies. .
In this sense, the research explained that although the vision of sustainability is being integrated into the remodeling of business strategies and close to 64 percent of the executives affirm that sustainability is on the agenda of each one of the senior managers of Her organization.
The study revealed that there is still a gap between climate ambition and concrete actions, with less than half, 49 percent having a defined list of initiatives for the next three years, and 37 percent of respondents saying that their company is redesigning its operating model.
“Overall, the level of investment in sustainability initiatives by companies with revenues above $20 billion is just 0.41 percent of total revenue on average, while smaller companies (with revenues $1 billion to $5 billion) are investing more (an average of 2.81 percent), compared with an average of 4 percent for research and development (R&D) spending by companies of the S&P 500 index in 2020”, adds the research.
As part of the research findings, it is reported that many organizations lack a collective vision and coordination around sustainability efforts across their operations, with different teams still working in silos.
“For example, only 43 percent of respondents say sustainability-related data is available and shared across the organization, and less than half (47 percent) of companies actively hire new talent with strong competences in terms of sustainability”, details the source.
In that same order, the current leaders detailed in the investigation that the main drivers of sustainability initiatives are 60 percent of the company’s own employees. While 57 percent do so out of a need to anticipate tighter future regulation, or 52 percent of executives say they hope this will increase their revenue in the future.
“Many companies understand the need to be sustainable, but first they need to align themselves with a clear strategy and establish short-term objectives to obtain concrete results that allow society to live within the limits of our planet and not beyond them,” he says. Cyril Garcia, CEO of Capgemini Invent and member of the Executive Board of the Capgemini Group.
Finally, this research demonstrates the role of brands and companies in the social work that is currently taking place in the world, where consumers are the first critics to cancel a company that does not fit this way of life and sales.
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