The global Covid outbreak in early 2020 has sent environmental awareness into overdrive for both consumers and companies. No real surprise there.
We’re more self-aware, and more concerned about our consumption, than ever before. There is now more reflection and focus on what we are consuming that will create a better world.
In a survey conducted by strategy consultants at BCG, 70% of participants stated they were more aware after Covid-19 that human activity is a big contributing factor to the deterioration of the environment. That was back at the beginning of the pandemic.
There have been a few global natural disasters which have served as stark reminders to a largely locked down – and therefore captive – audience of the changes taking place. Recently, the North American wildfire season began in late December 2021. According to the National Interagency Fire Center, there has been a total of 58,733 wildfires reported in the last year.
In Boulder, Colorado, where there are typically 30 inches (76 centimetres) of snow, the city only had one inch (three centimetres) of snow from September to December last year. Thousands of homes were destroyed due to wildfires. Unusual for this mountainous state to be this dry, especially during winter.
Climate change is moving in fast, and consumer behaviours are changing. Purchasing locally produced items, recycling more frequently and minimising energy consumption.
Consumers now have a proclivity for more sustainable products and services which opens up new business opportunities. In our previous blog post about the rise of entrepreneurs during the pandemic (The courage to do something different), this really is the perfect time for any individual to start a business that’s focused on sustainability.
Technology such as AR and VR is also a great niche, and you can read more about it here.
We started having environmental issues in the mid-eighteenth century (Industrial Revolution) and have neglected the environment for over two centuries. It has become an increasingly worrisome issue that consumers are acting on it more actively now.
With the demand rising for practical solutions to our environmental challenges, and the concept of sustainability on the agendas of more and more consumers, supply must catch up.
And what better time than now to do something that helps the planet while generating healthy revenues?