60% of businesses 'off track' to meet sustainability goals, despite consumers willing to pay 12% more: Survey

livemint.com:

surveyed in India are "off track" to meet their sustainability goals despite the consumers are willing to change their behavior and pay more for sustainable products. To get a broad sense of environmental concerns around the world, Bain surveyed 23,000 consumers, the results underscore the growing urgency of sustainability topics.

Some 64% of people reported high levels of concern about sustainability. “We have spoken to thousands of executives about their sustainability ambitions and the associated trade-offs," said François Faelli, partner and head of the global Sustainability practice at Bain & Company, the report said adding that “They know they have a key role to play in the energy and resources transition.

Many view this as their legacy, but they are worried about the growing gap between their progress and public commitments. While it will not be easy, there are three levers CEOs must prioritize: policy, technology, and behaviour.

Bain’s new research offers some promising news for businesses—their customers and employees are adaptable and eager to contribute along the path to progress." The report said that driven by the rising pollution levels in major cities and increasing incidents of flash floods and other natural calamities, a large number of people surveyed expressed a high level of concern about environmental sustainability. Almost 64 % of people surveyed said their worries have intensified over the past two years and that their concern was first prompted by extreme weather.

The report said, “Consumers in fast-growing markets, where Bain found environmental concerns to be highest—such as India, Indonesia, Brazil, and China—are willing to pay an even greater premium, between 15 and 20%. Consumers in the UK,