Sustainability Study Reveals Changing Behaviours of Business Professionals

There is a powerful ancient proverb that says: “Never ask a question unless the answer makes a difference.” This resonates with us at Panasonic. When we think about our evolving sustainability journey, we are mindful of the need to take time to understand the shifting motivations and concerns of our business customers. It is only by asking the right questions – to the right people and in the right way – that we can build a picture to help us shape, change and enhance the way we respond through our actions – and the way we communicate.

Connecting with stakeholders

We know that our sustainability efforts – which are underpinned by our Panasonic GREEN IMPACT Initiative – are already resonating with many of our key stakeholders.

In December 2022, we were ranked #3 in the NIKKEI BP ESG Brand Survey 2022. This impressive ‘jump’ from #13 in the previous year is confirmation that our efforts to deliver on internal change – and to disseminate information on our sustainability efforts – are working.

But, what about business professionals – our current and potential customers? How do they perceive us??Do they know about the work we are doing to ‘green’ our and potentially their operations and reduce global impact? Do they understand our commitment and aims to drive positive change through our technology and our activities in all areas of society?

Asking the right questions

This is where measurement comes in. Having access to independent and valuable data that captures shifts in purchasing behaviour and brand perception is highly valuable in any kind of business.

Last autumn, we commissioned Echo Research to carry out a detailed Sustainability Study to find answers to these questions. The study sought to understand general awareness and relevance of sustainability for business professionals and hearing what their needs for information are and their policies when it comes to sustainability.

This work has given us a picture of the perceptions of over 1,000 senior (Managers up to C-Suite) business professionals throughout Germany and the UK. Respondents were drawn from an online panel across a wide range of sectors, from private and public sectors to non-profit organisations.

?

"Sustainability = license to operate”, say customers

So, what did we learn? One of the most significant learning points concerns the importance of environmental sustainability to business professionals. The data showed:

• 80% of respondents agree that sustainability ‘plays an important role in purchase decisions and the procurement process’.
• 79% confirmed that ‘environmental sustainability is fully embedded into all decisions across the [their] organization’.

It was encouraging to learn that an environmentally responsible procurement really does matter to business purchasers:

• 77% agreed that ‘it is critical for our business to know that our suppliers and partners are environmentally sustainable’.

This valuable business intelligence confirms that sustainability is no longer a “nice to have” credential - it is now a “license to operate”.

Throughout the data, there were no major variations between the two countries noted in the respondents’ answers (the survey covered both Germany and the UK). This shows that views and perceptions of responsible businesses are often shared across countries and borders.

Top sustainability priorities of the purchase departments

The study also shed light on the top sustainability priorities for businesses. Respondents were given a set of nine sustainability issues to choose from. They were also given the option of highlighting an open issue and were asked to choose the top three.?Almost half of respondents cited carbon reduction as their top priority – with equal weighting given to reducing emissions across their products/services and business operations. Given net zero is the defining challenge of our time, the answers are not entirely unexpected for the top three issues:

1. 44% - Reducing carbon emissions of products / services
2. 43% - Reducing carbon emissions of business operations
3. 41% - General climate action

Other issues that fell outside of the ‘top 3’ include:?Improving the environmental sustainability of manufacturing / production (33%); reducing the carbon emissions of consumer lifestyles (32%); use of clean energy / renewables (28%); clean mobility / electric vehicles (26%); circular economy (23%); and water conservation (20%).?

What next?

This survey has helped us to understand our customers’ top priority areas for greening their own businesses. This intelligence will help us to shape our focus. As we commit in our Panasonic GREEN IMPACT:

The majority of emissions we pledged to reduce shall be “avoided emissions” (ca. 200 m tons / year until 2050). Around 50% of these 200 million tons of avoided emissions will come from our current technology portfolio which includes heat pumps, fuel cell systems, battery technology, energy and EV related components, etc. The other 50% is expected to come from future technologies and innovations.

It is our clear plan and commitment that we continue to innovate for the better of our planet and contribute to the massive societal challenge tackling climate change.

Curious to know more?

If you want to discover more about our Panasonic GREEN IMPACT Initiative and the technologies and solutions we offer for smarter homes and cities ; green mobility ; and net zero production , head over to the new Sustainability area on our website. Here, you’ll find a wide range of information about the many ways we can support you on your own sustainability journey.

Is sustainability important in your organization? We would love to hear more about the relevance of sustainability in your business and the extent to which it drives your decisions. Drop us a line to let us know!