5 key steps brands can take on the journey to a sustainable future
The COP26 Summit put climate change at the top of everyone’s agenda but now the conference is over, and as the dust starts to settle, government, businesses and individuals need to turn the talk into action.
And with consumers proving their commitment to sustainability by choosing greener businesses, companies must continue to demonstrate a commitment to net zero if they are to compete successfully, and the way in which they pay for and receive payment will be scrutinised.
Lemon Quarters Media in partnership with Attest, invited an expert panel to hear more about the future of sustainable payments and investments and the role cash, contactless, crypto will have in the transition to net zero.
1. Enhance education
Help consumers to understand where their money is and why this is important. The more individuals know about the impact their savings and investments can have in managing environmental, social and governance risks, the greater the opportunity for financial organisations to use that money to drive the sustainability agenda.
2. Keep it simple
Messaging on sustainability needs to be straightforward and easy to understand. Consumers benefit from clear guidance on how sustainable their payment methods are and the influence their savings and investments have. Armed with clear information about products, individuals can make better choices.
3. Collect data
Take the time to understand your consumers and find out their challenges, pain points and objectives. This helps to reinforce your value proposition and to develop the right products that both meet sustainability goals and serve your markets.
4. Demonstrate authenticity
Ensuring the products available to consumers are truly sustainable really matters. For financial organisations to shake off accusations of greenwashing, they need to offer products that demonstrate there are meeting clearly defined, measurable sustainability goals.
5. Work together
Multiple alliances exist which will help financial service providers accelerate the path to net zero by 2050. Collaborating with other financial organisations and joining collectives give financial organisations considerable influence over the likelihood of meeting ESG goals.