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A CEO agenda to make sustainability accessible
These five strategies will help your organization give consumers the sustainable products they increasingly want, at a price they are willing to pay, while ensuring you meet their evolving expectations about how companies should behave:
1. Embrace sustainability as a driver of value creation
How are you changing the culture in your organization so people see sustainability as a way of growing the business, finding efficiencies and creating new value pools – not just a cost? 54% of consumers have reduced or stopped altogether purchasing from organizations they believe acted inappropriately on environmental or social issues. This isn’t just a turn away from brands that are part of the problem; it’s a turn towards those that are an active part of the solution.
- Position your purpose-led brands for growth. Sustainability is a differentiating factor that drives growth. Even if most consumers are unwilling to pay more for sustainable brands, they are still more likely to buy them than alternatives.
- Invest in sustainable practices that drive efficiency. Products that produce less waste or fewer emissions, and last for longer can drive down costs, making sustainability more affordable for the consumers.
- Create value, don’t just avoid harm. The sustainability agenda is focused on reducing negative impacts. But a more regenerative mindset actively creates value. This is about designing new products, services and business models that can profitably serve people and the planet as part of a circular economy.