Most Americans see climate change as a major threat. But income level seems to guide one's willingness or ability to live a greener lifestyle.
Fifty-nine percent of high-income consumers always or often choose sustainable products, whereas that's true for only 44% and 42% of mid- and low-income households, respectively, according to a new Deloitte survey. The poll was global, but the findings were consistent across individual countries such as the U.S., said James Cascone, partner at Deloitte.
A sustainable purchase would largely aim to reduce your planet-warming greenhouse gas emissions — for example, replacing a household appliance with a more energy-efficient counterpart or buying an electric vehicle.
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Low earners were much more likely to cite cost as a barrier to an environmentally friendly purchase than high earners, Deloitte found.
«Cost is a big factor,» said Gregory Keoleian, director of the Center for Sustainable Systems at the University of Michigan.
High earners generally have the largest carbon footprints, noted Deloitte's Cascone. They own bigger homes, have more vehicles and travel more by air, for example, but they can also more easily afford to change their behavior.
Sustainable products tend to carry a «green premium,» meaning they're generally more expensive than the standard, experts said.
Even if a purchase would ultimately save money over the long term — due to lower household energy costs, for example — people living paycheck to paycheck generally can't afford to invest in things such as new home insulation or
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