Consumers are four to six times more likely to buy from a brand with a corporate purpose they support. But if an organization does something they disagree with, 75% claim they will stop buying from that brand and encourage others to do the same.
Carbon-intensive industries like coal, oil and gas are also finding it more difficult and expensive to raise capital, as leading lenders decline to do business with them.
Contrary to this, according to McKinsey, sustainable organizations are more likely to:
- Win contracts
- Reduce costs by using fewer resources
- Face less regulation
- Retain staff
- Avoid losing money on carbon-intensive processes
According to Reuters, global organizations took in USD 859 billion in sustainable investments in 2021, including USD 481.8 billion in green bonds that raised money for specific environmental initiatives. The level of sustainable finance is growing. According to Bloomberg, the total value of ESG investments could exceed USD 53 trillion by 2025, more than a third of all global investments.