Greenwashing Isn't Enough – Companies Must Put Sustainable Services At The Heart Of Their Business To Secure Their Future

We know that customer expectations are increasing, and they are choosing brands that care and invest in sustainability. A good service offering is no longer enough on its own to influence today’s consumers, they want more—they want a brand they identify with in terms of values around sustainability.

A recent report found, some 79%, are changing their purchase preferences based on social responsibility, inclusiveness, or environmental impact shown by a brand. With this, businesses are under increasing pressure to move away from the traditional break/fix service model. Marne Martin, President of IFS’s Service Management Business Unit, explains how service providers can deliver on the sustainable progress that customers now demand by opting into a circular model that minimizes waste and recycles resources in the economy.

From initiatives designed to increase recycling or upcycling, to becoming carbon-neutral, today’s businesses are more focused on sustainability than they were three years ago. These initiatives become a key element of competitiveness—they are what customers want, and frankly they also make good business. However, as awareness of “greenwashing” increases, many consumers are no longer content to take brands’ sustainability initiatives at face value, they want proof—and businesses must respond or risk losing out on valuable customer relationships. According to research by the Environmental Defense Fund (EDF), 93% of CEOs believe that consumers will hold a business accountable for their sustainable impact, whether that be positive or negative.