Climate crisis is a collective effort. Although consumers know their eco-friendly choices to an extent, they are still left with confusion if companies and governments are making the right usage of the available resources to make a true difference!

Additionally, organisations are also expected to take responsibility of their carbon footprint and prove their positive impact. Let us see how:

Green fatigue is sinking in and consumers have made noticeable strides in recent years to protect the planet. In fact, more than 60% of consumers tried to have a positive impact on the environment in 2023.

But climate catastrophes haven’t slowed down. Extreme weather events like intense wildfires, severe droughts and devastating floods are wreaking havoc on communities around the world. And as temperatures continue to rise, so does consumer scepticism.

Environmental concerns remain top of mind. Some consumers will keep making sustainable choices within their means, whilst others who feel discouraged might not make as much of an effort. Barriers like affordability and distrust are big challenges preventing further action.

Accountable, affordable

Corporations have made misleading claims or under-delivered on sustainability initiatives for years. But Green-washed consumers see right through these deceptive antics.

Emission reduction should be a focus area to cut through the noise. Offsetting isn’t enough, but accurately mapping out your carbon footprint is complex. Businesses need to measure direct and indirect emissions, including upstream and downstream value chains.

That’s not only challenging to track but also extensively regulated. However, the good news is that investing in long-term energy-efficient measures can be a cost-cutting strategy.

Partnering with the right suppliers helps you avoid future penalties, and eco-friendly operations could have an immediate effect on your bottom line.

Complete transparency is critical here. One needs to share concrete evidence of responsible business practices and validate progress. At the same time, demonstrate sustainable impact with specifics.

Affordability is another sticking point—especially in strained economic conditions. Sustainable items often carry a higher price point. Manufacturers need to democratise these options for shoppers.

Governments are cracking down on corporate greenwashing. South Korea introduced a draft law that would fine companies for falsely advertising environmental impact. And the EU issued legislation to prohibit the use of claims like climate-neutral and environmentally friendly without proper accreditation.

• Develop strategic partnerships across your supply chain to reduce carbon footprint and embrace the circular economy.
• Be forthright and factual: back-up claims with tangible proof and help your customers understand their impact.
• Re-invest revenue or re-benchmark profit margins to manufacture products that are both affordable and sustainable.

Source: Euromonitor International Voice of the Industry: Sustainability Survey, fielded February 2023.