Millennials and Gen Z combine for 50% of the world’s population and are the future of your company.
As previously reported via our posts, these consumers care more about your sustainability commitment than your brand.
They will move their purchasing loyalty if they find a certified sustainable company; and they will move their employment if they find a certified sustainable company to work for.
This article discusses another industry, automakers and suppliers, that is accelerating its sustainability programs (the ‘E’ in ESG) to better compete for these consumers and workers.
In short:
- Search for talent – The auto industry is trying to become more sustainable to compete for, and retain, talent. Workers will go elsewhere if the auto industry does not improve its sustainability commitments….and follow through with its promises;
- Government compliance – The SEC and European Commission are putting teeth into laws that will help ensure companies comply;
- Cost of money – certified/verified sustainable and ESG-enabled companies are paying less for their money;
- Vendor impact – Supply chain vendors are being tasked with becoming certified sustainable, to help their clients meet their internal mandates;
- Price and margin – Sustainable products with a lower CO2 footprint are commanding higher prices
Your industry is facing the same demands and opportunities. You can make sustainability a powerful differentiation tool for your company. This webinar / PPP explains what you should look for in a sustainability program.