Ask 130.000 representative people from 125 counties about their support for actions to tackle the climate crisis and “only” 89% will tell you they want more action!
That is what four scientists did and published as a peer-reviewed article in Nature. Quite interestingly the study also finds that people are ready to contribute personal income to see change but also, that they systematically underestimate how much other people are ready to do! The findings tell something interesting to business leaders and politicians.
My top three takeaways from it directed at you business leaders are as follows:
1) The Rising Tide of Expectations
Most people want to see more action – so as a business leader, you should expect growing pressure and growing expectations from the marketplace and community that you also deliver more sustainable results. As CEOs in the manufacturing sector, it’s crucial to recognize the growing pressure and expectations and not just think it is directed at the politicians.
The call for more sustainable practices and results is louder than ever, driven by a majority who wish to see tangible action. This isn’t just about compliance; it’s about seizing opportunities in a market that increasingly values responsible practices.
2) Breaking the Myth of Minority Concern
A common misconception holds many businesses back: the belief that concern for sustainability is a niche interest. This couldn’t be further from the truth. The reality is that a significant portion of your consumer base, and even your employees, are yearning for sustainable solutions. They are looking to you for leadership. By dispelling this myth, you can more confidently promote your sustainability efforts, knowing there’s a ready and receptive audience for your green products and initiatives.
3) Leadership as the Keystone of Change
People long for strong leaders and if you show that leadership and direct the path going forward you can gain a strong followership. I don’t think the role of leadership in driving sustainability cannot be overstated. As a CEO, your ability to articulate a clear, forward-thinking vision on sustainability can galvanize your organization and attract a loyal following from consumers and employees alike. Leading by example, setting ambitious yet achievable goals, and transparently communicating progress can position your company as a beacon of responsible manufacturing.
$779.840.000.000 to fuel the change
Almost $Bn 780 is what people are ready to contribute from their personal income if we follow the answer of 69% of the surveyed people. They answer they would give 1% of their income and according to the World Bank, the average personal income in 2021 was $9.748, so even though 1% does not sound like a lot it adds up as we are 8 billion people on the planet.
If you as a business can create a trustworthy and real impact, you have a good chance of tapping into this significant amount.
Remember, in the journey towards sustainability, action speaks louder than words. It’s time to lead from the front, demonstrating not only to your stakeholders but also to the industry at large, that sustainability and profitability can go hand in hand.
The question is what are you ready to do? And how prepared are you to meet the growing expectations and take advantage of the opportunity it represents?
Do you feel you miss something to be able to transition your business?
Let me know via a DM or the comments, and I will address it in future articles.
Extract of the report
The document “Actual and perceived support for climate action” outlines a comprehensive study on global attitudes towards climate action. It reveals a significant majority of the global population is willing to contribute financially to combat climate change, with stronger willingness observed in countries more vulnerable to its effects. However, a notable perception gap exists where individuals underestimate the willingness of others to take action, suggesting a global underestimation of support for climate initiatives. This gap indicates a potential for greater collective action if awareness of mutual support is increased. The study emphasizes the importance of leadership in addressing climate change, suggesting that strong, decisive action can harness the widespread but underestimated willingness to act for more effective sustainability efforts.
Find the report here: https://www.nature.com/articles/s41558-024-01925-3
