Businesses innovate but brands fall behind in race for environmentally conscious customers
Some of the world’s biggest brands are not innovating despite customers who demand more action on climate issues, a pressure group has warned.
Top companies such as Nestle, Coca Cola and Procter & Gamble are in a race to adapt to vegans and customers who are keen to reduce plastic packaging.
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Yet around 60 per cent of the top revenue-generating products for many major companies have not found low-carbon innovations for a decade, the CDP found.
“Given that most companies generate over 50 per cent of their revenues from these key brands, including Nescafe, Budweiser and Dove, they must up their game or risk falling foul of changing consumer demands,” the group said.
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Anglo-Dutch firm Unilever came top of the class for the household and personal care sector, the CDP said, after a push to develop vegan personal care ranges.
The survey found that five of seven food and drinks companies which once offered dairy and meat based products are now innovating to find vegan alternatives, and over half of companies are trying to introduce biodegradable packaging.