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Thursday August 11th, 2022 10:08PM

A Large Majority of Americans Are Willing to Pay More for Sustainable Products, Study Finds

By The Associated Press

ATLANTA--(BUSINESS WIRE)--Jun 21, 2022--

Despite high inflation, 66% of Americans and 80% of young Americans (ages 18-34) are willing to pay more for sustainable products versus less sustainable competitors, according to the second by , a PDI company.

However, 78% of Americans say they don’t know how to identify environmentally friendly companies, despite wanting to buy from them. To confirm a company’s environmental friendliness, 50% agree that clear language on products is important, and 46% say third-party or independent source confirmation is important.

Among those that shop for environmentally friendly products, 72% use labels or third-party certifications on the product’s packaging to confirm if it’s environmentally friendly.

“Americans are very clear—they want sustainable solutions and are willing to pay more for them, if only they knew how to find them,” said Pete Davis, CEO and Co-Founder of GreenPrint. “We are in the midst of a significant acceleration in public demand for sustainability, and companies that do not meet that demand will quickly fall behind their competitors, especially with young Americans.”

The study also revealed a significant trust gap between Americans and corporations when it comes to sustainability. Only 38% of Americans believe corporations most or all of the time when they make claims of environmental friendliness, a noticeable drop from 47% in GreenPrint’s 2021 study.

Overall, 41% say American corporations are doing a poor job at reducing their carbon footprint. When it comes to demonstrating an actionable commitment to becoming more environmentally friendly, 56% of Americans say airlines and fleet services are not doing well, followed by the energy/gas industry (48%).

“Over the past year, public trust in the authenticity and effectiveness of companies’ sustainability efforts has eroded significantly,” said Davis. “This puts businesses making genuine progress in a bind because their actions are less likely to be recognized. To win back trust, the data clearly shows Americans want companies to validate their sustainability claims through independent sources, both on the corporate level and for their products.”

Other key findings from GreenPrint’s second Business of Sustainability Index include:

This index and its future editions will continue to track sentiment around sustainability in the economy—how climate consciousness impacts consumer preference and perceptions of companies and their products, as well as the overall effectiveness of the sustainability benchmarking ecosystem across various sectors and demographics.

This was fielded from March 7 to March 8, 2022, among a demographically balanced and nationally representative sample of 1,062 U.S. adults 18 years of age and older. To ensure consistent and accurate representation of the U.S. general population 18 years of age and older, data was weighted by the following variables: sex, age, geographic region, race/ethnicity, and education.

GreenPrint is a global environmental technology company, offering sustainability as a service with patent-protected programs that deliver environmental impact and bottom-line results. A member of 1% for the Planet, GreenPrint’s turnkey offerings help companies meet sustainability goals while increasing brand value and customer loyalty—making it easy for businesses to do well by doing good. GreenPrint is on pace to offset over 30 million metric tons of carbon by 2025. Learn more at .

Professional Datasolutions, Inc. (PDI) software helps businesses and brands increase sales, operate more efficiently and securely, and improve critical decision-making. Since 1983, PDI has proudly served the convenience retail and petroleum wholesale industries. Over 1,500 companies, representing more than 200,000 locations worldwide, count on PDI solutions and expertise to deliver convenience and energy to the world. Among PDI solutions are the Fuel Rewards® program and GasBuddy, two popular consumer brands that together represent 15 million monthly active users. For more information about PDI, visit us at .

View source version on businesswire.com:

CONTACT: Prosek Partners

Zach Harris

315-409-9435

[email protected]

KEYWORD: GEORGIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY PROFESSIONAL SERVICES BUSINESS SMALL BUSINESS OTHER TECHNOLOGY GREEN TECHNOLOGY DATA ANALYTICS SOFTWARE OTHER PROFESSIONAL SERVICES ENVIRONMENT HUMAN RESOURCES

SOURCE: GreenPrint

Copyright Business Wire 2022.

PUB: 06/21/2022 09:00 AM/DISC: 06/21/2022 09:02 AM

http://www.businesswire.com/news/home/20220621005065/en

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