What Is Secret Sustainability and Why Should You Care About It?
We live in an environmentally conscious world, where consumers are willing to pay more for green products. So why are companies reluctant to share their innovations and sustainable practices with their retail customers?
Companies from various industries are adopting innovative cost-effective methods which are also environmentally sustainable. Wineries are switching from conventional to organic practices and car manufacturers are reducing the amount of energy consumed to build a car, just to name a few. While these sustainable, resource efficient practices are giving businesses clear competitive advantages, people still believe that green goods are always more expensive.
Sustainable Practices Help Businesses Thrive
Sustainable practices are often mistaken for being the expensive option. Companies and consumers refuse to accept the fact that implementing green practices does not have to cost more to create an equally good product. It’s hard for people to believe that a business can be equally or more profitable while reducing its environmental harm.
A series of benchmarks assessing the sustainability of companies around the world provided by Dow Jones Sustainability Indices has repeatedly shown that those at the top end of the benchmark outperform those at the bottom.
Consumer Stereotypes on Sustainable Products
By advertising their green practices, businesses risk spooking their customers with possible increase in cost of the sustainable products.
Any indication of sustainable practices being used to create a product often signals the consumers that the costs are going to go up. The public’s belief about the expense and quality of sustainable products has ensued the companies to keep their achievements hidden in the shadows.
Green Alliance has shown that while people’s attitudes are overwhelmingly supportive of resource efficiency, 45% of people actively distrust big businesses. Company’s championing various innovations find it unnecessary to promote their sustainable practices since it might attract unwanted attention to parts of its operation that are less sustainable, potentially sparking accusations of “greenwashing”.
Businesses are concerned that introducing the sustainable option would lead consumers to question the quality of their product. They also fear that if they raised their prices to meet the expectation that a sustainable product costs more, they risked making their products unaffordable to their current consumers.
Time to Break the Sustainable Stereotype
Let’s face it, our planet is dying. We need as many sustainable products as possible if we want to have even the slightest chance to keep this planet a home, especially for future generations.
Pioneers are creating solutions to reduce environmental harm but are leaving other industry players and consumers in the dark. The public’s belief about sustainable products is preventing several companies from adopting environmental practices from industry leaders which would not only help their businesses thrive, but also help the environment along the way.
Libby Peake, senior policy advisor at Green Alliance says, “We know that the best manufacturers are improving their energy efficiency. These leaders have vital lessons to share with the laggards, so it’s a sad state of affairs if they feel they cannot boast about their achievements. We need sustainable goods and services to move to the mainstream instead of being hidden in the shadows.”
It’s high time for us consumers to break the stereotype and encourage industries to share their innovations with the world. Getting people to change their minds should not be harder than tackling some of the biggest environmental problems!
If you want to see 5 ways to be more sustainable right now, check out this article: 5 Ways To Be Sustainable During COVID Lockdown
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