This article was originally published in the World Economic Forum on August 11th, 2022. It was co-authored by Simon Glynn, partner and climate and sustainability co-lead at Oliver Wyman.
A powerful group of consumers is mobilizing to change the way companies interact with the environment. But they aren’t who you might think they may be.
Emerging from the pandemic even more committed to climate goals, these passionate activists are trying to drum up the same sense of urgency for protecting the planet that governments and businesses applied to COVID-19.
They’re avoiding companies that don’t address the issue and seeking out those they see taking a lead on tackling climate change – and encouraging others to do likewise.
In this age of Greta Thunberg and social media-fuelled activism, you might assume the leaders of this burgeoning consumer movement are Gen Z-ers looking to change a world they see as mismanaged by their elders.
Instead, they’re elders themselves — mostly middle-aged and older folks who are worried about the impact climate change will have on their children and grandchildren, according to new research by the Oliver Wyman Forum.
The New People Shaping Our Future report analyzed data from more than 125,000 survey respondents in 10 countries to identify the eight key groups driving global business in the 2020s.
In all, the “Climate Catalyst" cohort accounts for about 13% of the global adult population. Almost 80% of them are age 35 or older, versus only 22% between ages 18 and 34.
Educated but not affluent, and disappointed with the lack of progress by global leaders, they said they plan to vote and shop differently if they don’t see fresh signs of progress.
The research found that almost 75% of Climate Catalysts avoid companies that don’t value climate goals, while almost 70% look for brands that are sustainable.
A hefty 84% said they would pay more for sustainable offerings.