We all know that green energy is good for the planet, but if you’re a business it’s also good for your profits.
A new consumer report commissioned by offshore wind power provider Ørsted shows three quarters of UK customers are more inclined to choose a manufacturer or retailer that uses renewable energy.
Interestingly, more than 20% are willing to pay a premium across product categories.
The report, by Kantar Millward Brown, breaks down into the following categories: supermarkets, food and beverages, beauty products, consumer electronics and clothing.
From the report’s conclusion:
In addition to the questions regarding green energy, respondents were prompted with two versions of the same logo for well-known brands, with the only difference being the words ‘Uses 100% renewable energy’ added to one.
57% of the respondents showed a clear preference for the logo displaying the green energy message, further showcasing how green energy could raise brand preference.
According to edie.net, global brewers Anheuser-Busch InBev (AB InBev) have placed a renewable electricity label on any Budweiser beer that has been brewed using 100% renewable electricity – showcasing their green credentials while no doubt encouraging their green-conscious customers.
As stated in the report: “[this report] clearly shows there’s an opportunity for businesses to use renewable energy as a competitive advantage, giving them the chance to move towards a more sustainable business, not only in an environmental sense, but also financially.”
As reported by edie.net, Ørsted UK’s managing director Jeff Whittingham said: “We know that a move to green energy makes sense for the environment, but these latest statistics show that it is also good for business, making renewable energy a commercial choice as well as an ethical one.”
The survey reinforces the notion that sustainability can act as a differentiator for consumers, and companies like Ikea and Unilever are are capitalising on this – delivering notable economic growth from sustainable products. In fact, Unilever’s ‘Sustainable Living’ brands accounted for a record 70% of its turnover growth last year and grew 46% faster than the rest of the business.
The full report can be downloaded from Ørsted’s website.
Want to invest? See our investment page.
Want a pod? Get in touch for more information.
Want to keep in touch? Follow us on Twitter at @PassivPod