There is no pause in the amount of analysts that point to the importance of corporate impact on the environment will have in the near future. As the quality of what companies produce receded in value in comparison to the image companies transmitted, this is even more amplified now as image and values have to combine in order to shape the real value of the brands of the future. The increasingly demanding public will practically insist on business commitment coinciding with their own values and commitments, one of most important being with the environment.
As McKinsey & Company publishes, a company’s pro-environmental reputation will be the most relevant issue influencing future purchasing decisions of customers. In 2018, a study conducted by Nielsen, showed that 81% of global customers were in favor of companies committing to improving the environment. And that customers are willing
to support these brands with their money, deciding which products they want to spend it on – on companies that align with their principles. The same survey found that 73% of customers would be willing to change their shopping habits if this helped reduce environmental impact.
In this age of crisis communication we find ourselves in where a single misguided “tweet” can cause havoc, the best defense is to be as well prepared as possible and to do things right (and be able to prove it) and the company should adapt to the challenges before they occur.
One of the ways the company can help reduce the environmental impact it generates is, for example, by investmenting in water projects, as almost all companies operations have an impact on water, to a greater or lesser extent. Instead of addressing water use in all geographies, the most efficient way is for companies to understand how they are interacting with water sources and areas of action and focus their efforts there.
But the contribution of businesses should not be to make piecemeal investments in projects without measuring the impact of these investments. If real impact is not measured, corporate philanthropy is nothing more than a simple marketing action that is not aimed at improving any real environmental conditions, but simply the realization of a public relations campaign to improve the image of the company. So what consumers will start asking companies for is no longer information about Greenwashing campaigns, but rather information about actual impact achieved.
Mym3® is a platform that allows companies to unite their environmental action, providing them with investment opportunities in projects, as well as verifying the long term impact these projects are having on the environment.