Younger Generations Are Willing to Pay More for Sustainability

Recent research has revealed that millennials and gen Z in particular will deliberately spend more for sustainably developed products.

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An analysis of two surveys, published in the Journal of Cleaner Production, shows that millennials and generation Z are more sustainability-orientated when it comes to money. The researchers investigated how people support the United Nations' Sustainable Development Goals (SDGs), which is made up of goals and targets to achieve by 2030 such as ending poverty and access to clean water.

The first survey of 12,098 adults, which took place in Japan, found that those between the ages of 18 and 30 were far more likely to value and practice sustainable behaviors, such as paying more for sustainably developed products. 

The second survey sampled 668 university students to understand job preferences among younger generations. It revealed that the probability of a participant selecting the least SDG-minded company was about 28%, even when offered a high salary. The probability of selecting a highly SDG-minded company increased to 56%, even with the lowest pay. The probability of a person selecting to work at an SDG-minded company with high pay was 87%.

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