Number of consumers who would prefer to buy low carbon labelled goods doubles in last year
When consumers were asked whether they would buy low carbon labelled goods over non-labelled goods of identical quality, the survey found that 47% were more likely to choose low carbon labelled goods over non-labelled and one in five (21%) would pay more for carbon labelled products.
Tom Delay, chief executive, the Carbon Trust, said:“The Government’s decision to set a legally binding target on greenhouse gas emissions beyond 2020 makes it clear that the UK intends to be a global leader in the low carbon economy. Taken alongside increased consumer demand for low carbon products, 2011 is the year for businesses to develop strategies and set clear targets to help them plan and capitalise on green growth opportunities.”
The analysis also found that companies are also seeking to exploit revenue generating opportunities from the low carbon economy and are sufficiently confident of success to have set targets accordingly.
The Kingfisher Group, owner of B&Q and Screwfix, said it increased its sales of independently verified Eco products to £1.1 billion, accounting for 10.5% of total retail sales across the Group.
Ian Cheshire, CEO, Kingfisher, said: “UK consumers are reaching a tipping point. Increasingly driven by sustainability, they have high expectations of businesses to reduce their impact and are voting with their wallets by spending on brands that do so.
“Companies which innovate to deliver products and services that convert this consumer interest will benefit hugely from the UK’s low carbon leadership. Right now, Kingfisher is the only FTSE 100 to set a public target to drive revenues from eco products. We hope that more will follow.”
Peter Walshe, Global Director, BrandZ, said:“This new research builds on our own global analysis and shows that the public are in a very uncomfortable place regarding climate change, they understand the significance of the issue; they recognise that businesses’ are a major emitter of emissions, and they want them to do something about it.”
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