Terra Carta TERRA CARTA — For Nature, People & Planet
We thought you might be interested in page 6 of the Terra Carta:
"The 'Terra Carta' offers the basis of a recovery plan that puts Nature, People and Planet at the heart of global value creation – one that will harness the precious, irreplaceable power of Nature combined with the transformative innovation and resources of the private sector."
REIMAGINING THE FUTURE Article 3
The Power of Consumers
With consumers controlling an estimated 60% of global GDP, people around the world have
the power to drive the transformation to sustainable markets. Yet, we cannot expect consumers
to make sustainable choices if these choices are not clearly laid before them. As consumers increasingly demand sustainable products, they deserve to be told more about product lifecycles, supply chains and production methods. For a transition to take place, being socially and environmentally conscious cannot only be for those who can afford it. If all the true costs are taken into account, including the cost to Nature, being socially and environmentally responsible should be the least expensive option because it leaves the smallest footprint behind.We must communicate better with consumers about the sustainability of the goods, services and investments we offer.
Actions that the private sector and economic actors could adopt that will further the ambition and deliver the results required include:
Improving consumer-level communication, transparency and education related to organisational sustainable impact and the sustainability footprint of products and services, inclusive of supply chains. Consumer and shareholder demand for disclosure, transparency and traceability can be powerful in moving both corporate behaviour and regulation.
Identifying, developing and improving sustainable alternatives that are high in quality, consumer experience and affordability.
Improving consumer feedback loops to enhance satisfaction with the sustainability of products and services.
Exploring sustainability labelling and warranting to help inform consumer decision-making while driving-up demand for sustainable products and services.
Working within and across industries to make consumers aware of industry-wide efforts, helping consumers to make cross-industry comparisons.
Supporting industry-wide consumer awareness campaigns around sustainability, including the changes needed and being advanced around sustainable products and services across the value chain – noting sustainable impact on people, communities, Nature and climate goals.