REGIONAL ROUND-UP
AFRICA APAC EUROPE MIDDLE EAST NORTH AMERICA
82 % OF BRITS CHANGE THEIR MIND ABOUT BUYING BECAUSE OF CLIMATE CHANGE INACTION
More than a third of Brits ( 34 %) believe the majority of businesses they purchase from are not doing enough to combat climate change . What ’ s more , 82 % have changed their mind about purchasing something from a company because they felt it did not do enough about climate change .
This is according to the new People , Planet , Data : Why Climate Change Action and CSR Have to be Data Driven study by Exasol , which indicates that climate inaction is now a huge risk to business . In fact , 55 % of CSR decision makers believe that if their companies fail to act on this , their business will no longer exist in 10 years .
Consumers demand action
Over four in five ( 84 %) Brits cite a company ’ s credentials in climate change , diversity and inclusion , and ethical business practices as a key factor in whether they buy from or do business with organisations . In fact , almost nine in 10 ( 86 %) say ethical and sustainable business practices are a key factor .
What ’ s more , almost two thirds of consumers ( 64 %) reveal they would stop buying from a business that did not have credentials in these areas or plans to work on them in the next three years .
A roadmap for change
The challenge for businesses is that only a third ( 34 %) have a fully formed roadmap in place to ensure more climate friendly business practices are put into place in the next 36 months . And three in 10 ( 29 %) of those with no strategy at all had no plans to change this in the next 12 months .
A total of 81 % of CSR decision makers agree they could make better decisions around climate change , diversity and inclusion practices , and ethical and sustainable business practices if they had access to data-led insights that informed these decisions .
Peter Jackson , Chief Data & Analytics Officer , Exasol said : “ At Exasol , we believe in the power of data and using this to build a community that has a positive impact on our planet , from people and resources to policy . Companies , and importantly their senior leaders , have a central role to play in this .
“ As such , it is critical that they educate themselves on , and invest in , digital tools that can help them democratise data . This will empower them to give ‘ green teams ’ – comprised of the CDO , data scientists and individuals from every business unit – access to the insights needed to evidence the value of CSR initiatives . With this insight they can affect real change .”
Jackson continued : “ Taking these steps now is essential . We have an undeniable responsibility to do all that we can to save our planet for future generations , while also protecting our stakeholders ’ interests .
" We have the data , we have the resources and now we have the opportunity to make a difference .” x
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