Signed in as:
filler@godaddy.com
Make a difference...
Understanding Sustainability
Global warming, pollution, water scarcity. Our planet and the existence of our future generations to come is squarely resting on our shoulders. With the state of our planet today, it has become increasingly clear that individuals and companies must work together to protect our planet’s natural resources.
Our current activities will continue to have harsh effects on our environment and its people if we do not act quickly and succinctly. For this reason, many are embracing sustainable practices and product purchasing. Sustainability is not just a Buzzword. It is quickly becoming a way of living for many people who are grasping the reality of Earth’s condition. It is not only a matter of companies and manufacturers making changes to the way they produce their products, but a matter of every individual making a change in their personal buying habits that prioritize purchasing sustainable products as a lifestyle change. When one person makes a difference, they inspire others, and together we all win by creating world change. Sustainability goes far beyond environmental impact and plays an all-important role on economic and social impact. It not only ensures an environmental impact, but that workers get paid a fair wage, and that they are working in safe conditions. Together environmental protection and social responsibility create economic growth as a result.
People are purchasing sustainable products more than they ever have in the past. In today’s world it’s not surprising to learn that the largest consumers of sustainably produced products fall within the groups of people comprised of Gen-Z and Gen-Y, with a large number of Gen-X and Baby Boomers greatly contributing to sustainable purchases. The Top 5 concerns of this demographic state that their reasons for turning to sustainable purchases include the need to create waste reduction, reduce the carbon footprint, the need to produce sustainable products and packaging, as well as committing to an ethical work environment and the respect of human rights. In fact, nearly 1-in-3 consumers claimed to have stopped purchasing certain brands and products because they had ethical or sustainability related concerns about them.
Just the facts
Recent studies provide these encouraging statistics related to sustainable purchases:
• Sustainably marketed products delivered 54.7% market growth (2015-2019) despite representing only 16.1% share of the market category, up +2.4 ppts vs. 2015, and are responsible for more than half of the growth of consumer goods.
• Sustainably marketed products grew 7.1x faster than products not marketed as sustainable.
• Sustainably marketed products continued to grow despite the COVID-19 pandemic.
• Sustainably marketed branded products enjoy a significant price premium of 39.5% vs. their conventionally marketed branded counterparts, with a widening premium of +5.3 pts over the past five years.
• Projected sales of sustainable goods are expected to exceed $150B in 2021.
One of the largest contributors to the destruction of our ecosystem is unfortunately one of the top two most consumed products of buyers, fashion apparel. Fashion apparel is comprised of not only the clothes we wear, but products such as backpacks, tote bags, and other consumer goods used largely in promotional marketing. Not only are many of these products not built to last, increasing the carbon footprint when they are discarded, but more than 60 percent of fabric fibers are now synthetics, derived from fossil fuels, so if and when your clothing ends up in a landfill (about 85 percent of textile waste in the United States goes to landfills or is incinerated), it will not decay. Additionally, the fashion apparel industry is known for its significant use of natural resources and energy use in their manufacturing, using over 93 billion cubic meters of water every year, and accounting for 10% of the world’s annual global carbon emissions. Adding to the environmental issues, fast fashion companies have also been known to exploit their overseas workers to maximize profits. Fast fashion is bad for workers, especially young and underage women. These women work long hours with minimal pay, and they many times work in unsafe working conditions. As a result, many sustainable apparel brands have been springing up over the years. These brands have decided to produce quality clothes while reducing their carbon footprint. They also employ sustainable manufacturing processes that reduce waste, preserve resources, and preserve the working conditions, pay, and human rights of their workers.
Sustainability can be a bit confusing
Understanding the differences
Sustainable, Eco Friendly, Eco Conscious, Green, Recycled, Recyclable, Renewable, Compostable, Biodegradable, Carbon Neutral...all sustainable terms, but with a lot of differences. If you are confused and need a better understanding, Aloha Consulting is here to help point you in the right direction!
Look for these logos
These label certifications are assurance the products you are buying have sustainable attributes.
Aloha Consulting can guide you down the right path!