A new report by American Express has revealed that UK consumers are placing increasing importance on sustainability when deciding which businesses to support. The report emphasizes that consumers have high expectations for companies to address climate change and environmental issues and are more likely to trust and shop with businesses that demonstrate a commitment to sustainability.
According to the Amex Trendex report, 91% of UK adults believe that companies should tackle environmental issues, and 89% agree that businesses should be transparent about their climate impact. Moreover, 61% of respondents pay attention to how a business takes action to reduce the impacts of climate change.
The report also highlights that businesses that take proactive measures to address climate change and reduce their environmental impact will be rewarded with a more loyal customer base. Around 80% of UK adults would choose to shop with a business that actively works to mitigate climate change, and 79% would be more likely to trust a company that takes steps to address environmental issues.
Furthermore, the research indicates that consumers are looking to businesses for guidance in making more sustainable choices. A significant 78% of respondents want companies to educate them on ways to reduce their carbon footprint while shopping, and 82% would appreciate companies offering options to offset carbon emissions associated with their purchases.
Stacey Sterbenz, General Manager of Global Commercial Services UK at American Express, emphasizes the importance of businesses taking action on climate change. She states, “The findings… clearly show that consumers expect businesses to step up when it comes to plans and policies around tackling climate change. The data also shows a significant opportunity for those companies that are acting on this critical issue, and the role they can play in helping to better inform their customers.”
In line with the report’s findings, American Express has made a commitment to promoting sustainability. The company plans to increase the availability of cards made from recycled materials globally, with the aim of having the majority of its plastic cards made of at least 70% recycled or reclaimed plastic by the end of 2024. American Express will also offer an expanded Carbon Footprint Dashboard to its global Corporate clients, enabling them to track emissions associated with employee travel and entertainment spend.
Overall, the report demonstrates the growing expectation among UK consumers for businesses to prioritize sustainability. Companies that showcase their dedication to environmental issues and take concrete action can expect to attract more loyal customers. This presents a significant opportunity for businesses to not only meet consumer demands but also contribute to a greener future.
Useful links:
– Carbon Trust
– Green Alliance
