Majority of customers would pay more for sustainability
A survey of 6,000 consumers across Europe, North America and Asia has found that more than half would pay more for sustainable products designed for reuse and recycling.
Nearly three-quarters said they are buying more eco-friendly products than they were five years ago, with eight in 10 planning to buy more; 83% said it was “important” or “extremely important” for companies to design goods that are meant for reuse and recycling.
“The shift in consumer buying reinforces the need for companies to increase their commitments to responsible business practices,” said Jessica Long, managing director at professional services company Accenture, which carried out the survey.
The research also found that plastics are perceived as the most damaging type of packaging on the market, with paper seen as the most environmentally friendly.
However, one in four consumers said the chemicals industry – which plays a key role in driving recycling and reusable technologies and materials – is the sector least concerned about its environmental impact. This is despite a circular economy for plastics and advanced recycling technologies potentially boosting US GDP by billions of dollars and providing 38,600 jobs.
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