More than two-thirds of green business leaders consider it important to improve product sustainability performance during the next year, according to a recently published survey by Verdantix, a U.K.-based sustainable investment research firm.
The survey, "Product Sustainability: The Dos, Don'ts and Business Benefits," asked 250 corporate heads of sustainability in 13 countries to "identify the tangible business benefits of a product sustainability strategy, understand emerging best practices and anticipate future trends in product-level sustainability."
"Thirteen percent of respondents anticipate increasing spending on product sustainability in the double-digits and 32 percent plan single digit increases," Verdantix said. "At least 80 percent achieved cost savings on logistics and materials; 67 percent mitigated resource scarcity risks and regulatory risks."
The survey also notes industry-specific adaptations to sustainability, ranging from customer expectations and anticipated regulatory changes to meeting the green procurement requirements of governments.
"The positive results from product sustainability investments include improved consumer trust in the brand, reduced logistics costs and lower exposure to supply risks," said Rodolphe d'Arjuzon, Verdantix global head of research. "Insights into how to achieve these benefits are now diffusing across sectors such as footwear, consumer electronics and packaging."
Verdantix also stated that the survey provides information on using design, supply chain and communications to meet product sustainability goals.
This article originally appeared at Social Funds.
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