New year, new sustainable trends…
In response to consumers growing demand for eco-friendly products, here’s some of the biggest sustainability trends impacting retail in 2023…
1/ Shining a light on sustainability practices:
75% of surveyed countries have implemented or are planning regulations with penalties for noncompliance in order to promote sustainability in the manufacturing industry, such as the Supply Chain Due Diligence Act in Germany.
2/ Better delivery, fewer emissions:
Due to the pandemic, companies have been investing in electric vehicles, drones, and cargo bikes to reduce carbon emissions and move their businesses online. Amazon has partnered with Mercedes-Benz to add electric vehicles to its European fleet.
3/ Get circular:
Retail produces a large amount of waste, and companies are beginning to implement sustainable solutions such as circular economy and demand planning to reduce it. Ikea and McDonald’s are two examples of companies that are transitioning to circular practices.
4/ Eco-friendly, fair workplaces:
Retailers are prioritizing sustainability, health, safety, diversity and inclusion initiatives in order to comply with regulations. Target, Walmart, CVS Health, and Walgreens have been recognized for their commitment to these initiatives which were listed in DiversityInc.‘s 2022 top 50 companies for diversity.
5/ Ethical supply chain:
Leading companies such as Home Depot, Patagonia, and Peet’s Coffee are prioritizing ethical supply chains in order to meet sustainability goals by 2023. They are focusing on environmental stewardship, sourcing, and worker conditions in their vendors and suppliers.
6/ Data and AI boost environmental projects:
AI is proving to be a key factor in reducing greenhouse gas emissions and companies like Google are taking advantage of this to help promote climate change action. Sweep.net is also helping brands to gather data to better understand their carbon footprint.
In 2023 the private sector has a vital role to play in turning the economy into a force for good. Let’s create positive impact together.
We don’t need brands. We do need future-proof brands.
#sustainability #climatepositive #positiveimpact #climatechange #sustainableeconomy #economicaldarwinism #transition #happynewyear