• New research shows support for sustainable business is growing in both developed and developing economies.

• Many consumers believe brands bear as much responsibleness for positive modify as governments.

• Business must commit to protecting nature and natural systems.

Momentum has been building for some time around brand purpose – a reason to exist across making money. Now, given the latest research published today, we know that it's no longer acceptable or smart to ignore sustainability in business concern.

Information technology should be of considerable involvement to the business concern community and so that a fundamental finding in a new global report from The Economist Intelligence Unit, commissioned by WWF, shows a staggering 71% rising in online searches for sustainable goods globally over the by five years.

This "eco-wakening" is non but occurring amid consumers in loftier-income countries, but is also strong in developing and emerging economies, with an increase of 24% in Indonesia, for example, and a astounding rise of 120% in Republic of ecuador.

Over the same time frame, public concern for nature globally has risen by sixteen% and has continued growing during the pandemic. Since 2016, over 159 million people accept signed online petitions in support of nature, with protests growing in force and frequency. A remarkable 96% of survey respondents in Brazil see nature loss equally a serious problem.

Waking upwardly to nature

Early in my career in the agricultural and nutrient sector, I spent long hours driving through the Pampas in Argentina and Sao Paulo land in Brazil, encouraging large soy and sugar cane farmers to invest in socio-environmental initiatives and supply-chain sustainability. The answer I got was nigh ever the same: "Consumers don't care nearly sustainability or deforestation – they only want cheap nutrient."

Mayhap at the fourth dimension, they were right, peculiarly in those developing economies. Today, things accept inverse. While economic development is notwithstanding the priority for most countries, we realize that for cheap products today, we may pay a very high price tomorrow as nature loss and climate breakdown actually bite.

And for many people, and especially those living in emerging economies and supplying global value bondage, eco-wakening is driven by personal experience of the devastating impacts of fires, floods, droughts and COVID-nineteen.

Nature means business concern

The bulletin is loud and clear. Today, consumers around the world do want to live more sustainably. Many expect businesses to play a positive role in society and experience that when it comes to driving positive alter, brands bear as much responsibility as governments.

In one survey, 66% of all respondents, and 75% of millennial respondents, said they consider sustainability when making a purchase. In China, 41% of consumers say that they want eco-friendly products. And as social media channels keep to burgeon, the voice of younger generations will only increase the demand for sustainability.

With customers switching products or services when a visitor violates their values, there are without uncertainty growing market opportunities for companies willing and fix to respond, especially those offering eco-friendly products or speaking upwardly confronting weakening of environmental protection.

In the United kingdom, the market for ethically and sustainably sourced appurtenances in 2019 was worth £41 billion, its value having risen about fourfold within xx years, and in India sales of organic products have grown past 13% since 2018.

Born of our destructive relationship with nature, COVID-xix has fabricated the states reflect on our priorities, and ask ourselves questions like: "What if we fabricated smarter choices and consumed less?" If nosotros want a better time to come, we cannot go back to business every bit usual. The good news is that some sectors and companies are responding.

In fashion and textiles, over l% of C-Suite executives say consumer demand is driving their pursuit of sustainability, and many accept committed to sourcing sustainably produced raw materials. And in the nutrient, cosmetics and natural pharmaceuticals sectors, many famous brands have committed to sourcing practices that benefit people and biodiversity, with membership of the Marriage for Upstanding BioTrade increasing by 45% from 2016 to 2020.

Consumer preference is driving entire industries to modify, and no market place or sector is unaffected.

Going nature-positive

At a macro-economic level, nature-positive transitions for the food, infrastructure and extractives sectors could generate over $ten trillion in annual business organization value to 2030 and create 395 meg jobs. And the Earth Economic Forum's own analysis puts nature'southward value to the global economy at $44 trillion – more than half of global GDP.

With the business example clear, what more can companies do to contrary nature loss and realize the promise of a nature-positive global economy?

Companies can commit to protecting nature and natural systems, including by setting science-based targets for nature and aggressive greenhouse-gas emissions reductions. They tin can deliver on these commitments by protecting nature and natural systems in the landscapes where they operate, or from which they source commodities, by using tools and approaches such equally the Accountability Framework, and through reshaping markets. And they can call for an aggressive Paris-style global agreement for nature that helps secure a nature-positive world by 2030.

sustainability

What is the World Economic Forum doing about the circular economic system?

The World Economical Forum has created a series of initiatives to promote circularity.

1. Scale360° Playbook was designed to build lasting ecosystems for the circular economic system and help solutions scale.

Scale360° Playbook Journey

Image: Scale360° Playbook

Its unique hub-based approach - launched this September - is designed to prioritize circular innovation while fostering communities that allow innovators from around the world to share ideas and solutions. Emerging innovators from around the world can connect and work together ideas and solutions through the UpLink, the Forum'south open innovation platform.

Find how the Scale360° Playbook can drive round innovation in your community.

2. A new Circular Cars Initiative (CCI) embodies an ambition for a more circular automotive manufacture. It represents a coalition of more than sixty automakers, suppliers, research institutions, NGOs and international organizations committed to realizing this near-term appetite.

CCI has recently released a new series of circularity "roadmaps", developed in collaboration with the World Economic Forum, the World Business Quango for Sustainable Evolution (WBCSD), McKinsey & Co. and Accenture Strategy. These reports explain the specifics of this new circular transition.

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Brands that deliver on pursuit of purpose, that drive a culture of sustainable innovation, are the front runners in consumers' eyes – and they are watching.