SUSTAINABILITY IN THE SPOTLIGHT
DID YOU KNOW?
All eyes are on retailers and manufacturers as they increasingly shift their focus and their investment towards profitable and sustainable growth.
From Walmart to Best Buy, IKEA, Pepsi, Ralph Lauren and beyond, CEO’s have been prominently speaking out about how their companies are responding to changing customer concerns about climate change, clean energy, energy efficiency and packaging composability.
According to Deloitte, almost 79% of executives see the world at a tipping point for responding to climate change, compared to 59% eight months prior. Many are committing to ambitious new environmental goals and are demonstrating that sustainable growth can be good for the environment — and the bottom line.
Now is the time to recognize these leaders and share best-in-class practices and ideas. Together, we can accelerate adoption and collaborate on new ideas that will support the future of sustainable retail.
Retailers are adapting their priorities based on consumer demand:
of consumers indicate that they want businesses and brands to take action, putting people and the planet before profit.
(source: Talkwalker / Khoros Media Trends Report 2023)
of consumers say they're willing to pay more for products with a positive environmental impact or health benefits. (source: Morgan Stanley)
There is also increasing pressure from investors:
of investors indicated that they invest in companies that align with their values. 22% indicated that they integrated ESG into at least 75% of their portfolio and this number is expected to grow over the next two years. (source: BNP Paribas)
ESG concerns are starting to propel the M&A sector:
the number of ESG-themed acquisitions and funding rounds in retail and consumer products in 2021 (vs. 14 in 2010). (source: Morgan Stanley)
But there is a long way to go:
retailers have made less — or far less — sustainability progress than they expected. Sharing best practices and collaborating on new ideas has never been more critical. (source: Bain & Company)