Impacts of sustainable consumption and production

Decarbonization and the energy transition are the result of government choices and specific corporate strategies. But the attitude of people is also making a decisive and often underestimated contribution to sustainability. Citizens are the real engine of sustainability through lifestyle choices, habits and consumer behavior, they have the power to drive the market from the bottom up, and more generally, create a social context that is favorable to actions to safeguard our planet. The climate crisis as a priority Phenomena that are raising awareness of the urgency to change our lifestyles are becoming increasingly evident. From climate change to pollution, the effects produced by the use of fossil fuels, from the exploitation of resources to economic models that are no longer sustainable: all these issues are becoming more and more apparent. People are becoming increasingly concerned. Leaving aside for a moment the Covid-19 emergency, the changing climate as a result of human activity is considered the number one risk at global level. According to a survey carried out by the Pew Research Center prior to the pandemic, global warming is considered the main threat to the future of the nation for the majority of countries around the world, naturally to a varying degree from country to country. Next in the rankings were the threat of terrorism and the possibility of international-scale cyber attacks. Aside from the public’s perceptions, there is no doubt that climate change has had a strong and direct economic impact: it is estimated that, between 1980 and 2017, climate change cost 450 billion euro in Europe alone and provoked, through its effects, more than 90 thousand deaths. According to the USA’s Natural Resources Defense Council, the price of global warming in terms of energy costs, damages caused by hurricanes and desertification by 2100 could reach 3.6% of the USA’s GDP. The choice of the “Green Generation” Concerns linked to environmental conditions are increasingly widespread. The increase in noise pollution in cities, the contamination of the soil and the air with toxic substances and the waste of material and energy resources are driving people towards new behaviors that are increasingly attentive to sustainability and circularity. There are numerous examples: from the decision to install photovoltaic panels on the roofs of our homes to intelligent devices for managing consumption more efficiently, from choosing electric mobility to the purchase of products that are greener and more sustainable. The renewed environmental sustainability is widespread above all in areas of the world that are economically more developed and among the younger generations, although there are naturally exceptions from country to country. In Europe two-thirds of young people consider sustainability and the fight against climate change as priorities. This is reflected in their daily behaviors, such as being willing to pay a higher price for sustainable products or to prefer companies or organizations that incorporate consideration for the Earth into their working practices. In this sense the younger generations are rightly becoming known as the “Green Generation” and are accelerating the energy transition and changes in models of societal behavior. Companies and sustainability as a competitive factor Today attention to the issue of sustainability in general, and decarbonization in particular, is a competitive factor for companies that is increasingly decisive not only in terms of reputation. This is also because being sustainable translates into a series of tangible benefits, from the creation of shared value for stakeholders, to the prevention of damage caused by natural catastrophes, to the reduction of environmental and social risks to the capabilities of anticipating decisions of the regulatory authorities. What’s more, focusing on sustainability means investing in innovation, creating products and solutions not only with a low environmental impact but also with better quality and with less waste. These choices lead to a reduction in costs in the medium and long term and therefore an increase in profit margins and financial performance. Investors, who are increasingly attentive to global consumer trends when it comes to the management of capital, tend to prefer companies and organizations that have committed to a precise direction: that of the energy transition and the fight against climate change.

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How sustainable consumption is guiding the energy transition

How sustainable consumption is guiding the energy transition