File photo. Photo: mullerm/123RF
Consumers and corporations are looking for ways to take meaningful action on climate change and sustainability, two studies suggest.
A report by the Sustainable Business Network found sustainability was a key focus for almost all organisations it interviewed, although second to profitability.
The network conducted 30 interviews with senior executives at organisations that had an annual turnover above $50 million.
Meanwhile, a Westpac survey of more than 1000 customers, found nearly two-thirds would consider using an interest-free loan to make their home and transportation more energy-efficient.
Sustainable Business Network head of advisory and impact Tori Calver said firms wanted to take climate action.
She said market pressure and regulation were the main drivers.
"Organisations exporting to Europe are seeing strong pressure to prioritise action in emissions reduction.
"Plus, new regulations like the climate-related disclosures, which makes it mandatory for big companies to report on climate risk, are having an impact," Calver said.
Customer expectation was another factor driving businesses to action on climate change and sustainability.
"Some businesses see sustainability as a competitive advantage, while others have noticed an increase in job seekers wanting to work for purpose-driven companies," Calver said.
The Westpac survey found only a quarter of customers were prepared to pay more for higher-emissions goods - if it helped fund initiatives to reduce the country's climate impact.
"Banks are stepping up with products and solutions to help people make meaningful changes in an affordable way," Westpac NZ chief executive Catherine McGrath said.
The Westpac survey found 31 percent of customers felt New Zealand was doing enough to counter the effects of climate change, while nearly two-thirds were concerned about the impacts of climate change.
