Brits demand businesses stump up billions for the planet
Three quarters (74%) of Britons believe UK businesses have a responsibility to financially contribute to environmental initiatives, new research from 1% for the Planet, the global organization that mobilizes businesses to commit 1% of annual turnover to vetted environmental solutions, reveals.
The findings come after another summer of extreme weather in the UK. More than half (52%) of Britons say periods of very hot weather this summer have increased their sense of urgency around environmental action and climate change. That rises to 70% of Gen Z and 63% of Millennials.
Even a relatively small contribution from businesses could translate into significant funding for environmental solutions. Just 1% of UK private sector turnover would represent approximately £55 billion each year.
And while 1% could unlock billions, the research suggests the public may expect businesses to go further. When asked how much of their annual revenue businesses should allocate to environmental solutions, the most popular specified response was 3–5% (22%), followed by 1–2% (20%).
Expectations are particularly high among younger generations, with 84% of Gen Z and 82% of Millennials agreeing that UK businesses have a responsibility to financially contribute to environmental initiatives.
More than half (54%) believe large corporations and multinationals have the greatest obligation to financially support environmental protection, while 30% say all businesses should contribute the same percentage of turnover, regardless of their size.
When asked where business contributions should be directed, climate and decarbonisation (52%) and conservation and restoration (49%) emerged as the public’s leading priorities.
Yet as expectations of businesses increase, the research also reveals widespread scepticism about what companies say they are doing for the environment.
More than half (52%) of Britons say they do not trust the environmental and sustainability claims UK companies typically make in their marketing and advertising.
Independent verification makes a difference. 51% say they would be more likely to choose a company with independent third-party certification when deciding between two similar products or services. That figure rises substantially among younger consumers, to 73% of Gen Z and 61% of Millennials.
Kate Williams, CEO at 1% for the Planet, said: “People are feeling a growing sense of urgency to take action for the environment, and they expect businesses to shoulder their share of the responsibility.
“But simply making another green promise isn’t enough. Businesses need to demonstrate that their contribution is real. That’s why independent verification matters, and why making a clear, accountable commitment can be so powerful.”
