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Brands missing out on £820bn opportunity by not pushing sustainability

Brands missing out on £820bn opportunity by not pushing sustainability | Sustainable Procurement News | Scoop.it

According to new research by Unilever, 33% of consumers buy a product because they believe it is doing social or environmental good. Plus one in five say they would choose a brand if its sustainability credentials were made clearer on packaging or in marketing. That equates to a €966bn (£817bn) untapped opportunity, according to Unilever, given that the size of the marketing for sustainable goods is €2.5tr (£2.1tr).

EcoVadis's insight:

As consumers are increasingly demanding for more sustainable products, enterprises are feeling the pressing need to act quickly to prove their social and environmental credentials. How are you ensuring to your consumers that they can trust your products? 

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Sustainability Best Practices Part 1 | Fair Trade & Social Programs | Transworld Business

Sustainability Best Practices Part 1 | Fair Trade & Social Programs | Transworld Business | Sustainable Procurement News | Scoop.it
how companies are re-imagining the supply chain to integrate sustainability into every step
EcoVadis's insight:

"if Millenials have $1.4 trillion in annual spending by 2020 it will be roughly one-third of all retail spending.” Millenial buying habits that skew toward favoring sustainable business practices can’t be ignored if a company wants to stay in business over the next decade."

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Tyler Blackburn's curator insight, May 6, 2016 12:53 PM
This article does a great job of using real world companies as examples of what 'true' sustainability practices mean.

Where more energy efficient lighting, and recycling are all key activities in keeping our planet healthy while doing business, we also need to re-imagine the current business model.

Not only from paying workers fair wages, but souring materials from secondary sources, using those who are involved in the area, and tackling a social issue at the same time.

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