Emerging technologies like AI, IoT, and edge computing are unlocking new opportunities to not only foster sustainability, but also create new paths to help with profitability, efficiency, and better customer experiences.
Some of the key reasons sustainability has ticked up the priority list of organizations of all stripes include:
- Customers demand it According to McKinsey and NielsenIQ, 78% of US consumers say a sustainable lifestyle is important to them and 60% of consumers will pay more for products that are packaged sustainably.
- It boosts growth Brands that tout sustainability are shown to achieve more dramatic growth. McKinsey and NielsenIQ report that products making claims related to environmental, social, and corporate governance practices grew at an average of 28% over five years, compared to 20% for products making no such claims.
It can help business keep up with regulations In cities and states across the country, local and state regulators are taking up green building and operations policy proposals at an accelerated clip. By aggressively pursuing sustainable practices now, organizations can stay ahead of the curve, and implement change at a self-determined pace.
