At a time when more than two-thirds of Americans say they prefer to buy from businesses that are stewards of the environment, no organization can afford to overlook the importance of prioritizing sustainability. Sustainability — the policies and practices embraced to safeguard our physical environment — encompasses reducing greenhouse gas emissions, minimizing pollution, eliminating processes that waste natural resources, and more.
Today’s climate-conscious consumers want to see governments and businesses take concrete steps to reduce the impacts of climate change, which much of the scientific community believes played a role in recent extreme weather events. In 2022, 67% of U.S. adults who had experienced severe weather within the previous two years said they prioritize environmental protection over economic growth.
In addition to addressing environmental concerns, many consumers and investors want businesses to adopt social and corporate governance policies that reflect their values. Environmental, social, and governance (ESG) strategies typically include efforts to support diversity, fair labor practices, and human rights — in addition to environmental stewardship.
Consumers take notice of such policies: 50% of respondents to one Gallup survey said buying from companies that go out of their way to prioritize the health and well-being of their employees matters a “great deal;” 34% said it matters a “fair amount.” The same survey also revealed that most Americans “value a company’s impact on the local community (81%) and its business ethics and transparency (79%).”
Other good reasons businesses are paying more attention to sustainability efforts exist today. The repercussions of lockdowns triggered by COVID-19 demonstrated just how fragile supply chains are. More companies and governments are focusing on supply chain sustainability to strengthen them.
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