Green Light: how corporate responsibility can evolve with conscious consumerism

In recent years, the awareness of the effects of climate change has increased across the Gulf Cooperation Council (GCC), with environmental sustainability becoming a higher priority both for governments and their people. Saudi Arabia in particular is striving to create a more diverse and sustainable economy, and to promote social responsibility, in line with Vision 2030. In order to adapt to these ambitions and rapidly evolving standards for corporate responsibility, retailers must demonstrate their culture and purpose, holding sustainability at the heart of their business.

A Greener World

According to research conducted throughout the GCC, a?sizable proportion ?of consumers are considering changing elements of their daily lives due to environmental concerns: 56% of respondents stated they strongly believe that adopting a sustainable lifestyle is of great importance. Indeed, consumers identified environmental sustainability as one of the most pressing socioeconomic issues. Depending on the nation, between?80% and 95% of respondents ?stated they are eager to start or are currently taking action as a result of climate change.

In recent years, business leaders have also begun to pay far more attention to the environmental impact of their products, from sourcing to distribution, and have adapted the purpose and culture of their brand to the innovative wave of sustainability practices.

Beyond evolving their values and priorities, retailers have also felt an increasing responsibility to develop more sustainable standards for their business: to monitor their production’s environmental impact, to utilize sustainable materials and minimal, eco-friendly packaging, and to consider the afterlife of their products – potentially requiring new infrastructure for recycling or re-use. It is clear that corporate responsibility holds a crucial role in developing new standards of sustainability, and that a harnessing of new technologies and infrastructures offers businesses an opportunity to stay ahead of the curve.

Riding the Wave

Retailers must continue to raise the bar for business sustainability in order to evolve alongside the increasingly environmentally and socially conscious retail sphere, and to demonstrate their commitment to environmentally retail practices. As highlighted by Meshaal Bin Omairh, the Group CEO of Abdullah Al Othaim Investment Company: “Dynamic and forward-looking retailers should fully understand the need for sustainable development. As a company dedicated to the highest standards of sustainability, Al Othaim is prioritizing environmental protection and energy efficiency towards a greener future for the Kingdom and the region as a whole, in line with Vision 2030”.

By setting ambitious sustainability targets for their brand, retailers can demonstrate that a lower environmental footprint and the development of sustainable business practices are core values of their company. As a result of the increased connectivity of social media, retailers now have access to a wide array of news and resources supporting corporate responsibility and are growingly aware of the potential to rapidly transform their business’ production, distribution, and waste management practices.

A key challenge for retailers setting high targets for sustainable practices across the GCC is that the countries only recycle, reuse or recover?10% of all the plastic and metal waste ?they produce. As agents of influence on the public as well as the private sphere, retailers must also remember their agency to induce truly positive change for the society they live in. Companies must recognize their unique influence and responsibility, as their mission and values hold the power to promote social responsibility and create a diverse and sustainable economy.

The potential for collaboration between the public and private sector to inspire positive change should be recognized by all retailers in order to evolve with the tide of rising conscious consumerism. Raising public awareness, investing in green infrastructure, and providing a wider choice of environmentally friendly products and services are only a few of the tools available to business leaders to positively impact the society around them. The Kingdom of Saudi Arabia, for example, has introduced a?Green Initiative ?which provides great investment opportunities for the private sector to contribute to the country’s energy transition and reduction of carbon emissions.

As well as revitalizing business practices for a new age, these actions can make a big difference in global efforts towards mitigating the effects of climate change on our planet. In order to develop high standards for corporate responsibility, businesses must seize the opportunity to convert ‘green’ environmental momentum into concrete action, which will impact not only on their local communities but their surrounding regions.