The growing concern over climate change is transforming into consumers demanding that companies develop a "green" conscious.
With consumer spending the real fuel that powers the economy, the demand is likely to foster a shift in corporate social consciousness -- or at least branding more deeply rooted in the land and air above.
When asked what socio-economic areas companies should support the largest percentage, 45 percent of those asked, said protecting the environment and wildlife was No. 1 on their list.
That's more than those who chose as their No. 1 concern fighting poverty (42 percent); education (33 percent); health care (25 percent); help for older citizens (23 percent) and a host of other issues, according to "I-Rep" a survey of consumer perceptions of corporate reputations, by survey-based market research company Ipsos.
What's more, 77 percent of those surveyed said companies have a responsibility to work to improve the social and environmental impacts of their products and services and 62 percent said with enough information about a company's social, environmental and ethical behavior the knowledge would influence their buying decisions.
The problem is 61 percent apparently aren't getting that information because they say it is difficult to know which products are better for society and the environment, according to Ipsos' I-Rep survey.
The study has widespread implications for the real estate industry from industry professionals who've historically been active in local community charities to larger corporations which literally live off the land.
Americans aware of good corporate practices act on their knowledge -- one-in-five (19 percent), for example, have bought a product or service because of an established link to a charity.
"While quality of products and services is the most important factor for consumers judging companies, environmental and social responsibility is as strongly related to goodwill as customer service and value for money," said Annabel Evans, vice president of Ipsos Public Affairs and author of the study.
"Companies that are spontaneously thought of as particularly responsible are primarily recognized for their environmental initiatives," she added.
Apparently, if you build it green, consumers will come.
When consumers are aware of a company's green approach and aware a product or service is environmentally responsible and sustainable, consumers will pay through the nose for it.
Green Builder Media, publishers of the Green Builder magazine, recently surveyed more than 250 residential builders and more than half of them reported buyers willing to pay a premium of between 11 to 25 percent more for green-built homes.
A "green" home, built with sustainable and conservation-minded materials, designs and technology, uses less energy, water, and natural resources; creates less waste; and is healthier and more comfortable for the occupants than homes built otherwise. Less energy needed, means less dependence on fossil fuels. Burning fossil fuels contributes to global warming which leads to potentially disastrous climatic change, according to the vast majority of scientists.
I-Rep also found Americans overwhelmingly saying that companies do not pay enough attention to their social and environmental responsibilities (60 percent) and should work to improve their products and services’ wider impacts (77 percent). Only one-third (35 percent) believe that companies are listening and responding to the public’s concerns.
"Companies that put good social, environmental, and ethical behavior at the core of their business have great potential for winning the hearts, minds, and wallets of increasingly ethics-savvy consumers," according to the report.
