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Consumer Loyalty Hinges Upon Corporate Environmental Responsiveness; Latest Amex Trendex Finds

UK consumers are increasingly expecting businesses to be more vocal on environmental issues and efforts to tackle climate change, the latest research from American Express has found.

As revealed in its ‘Amex Trendex’ report, 91 per cent of UK adults want companies to address environmental issues, whilst 89 per cent agreed these businesses should be transparent about their climate impact.

The Amex Trendex is a trend index that tracks how consumers, small businesses, and merchants are feeling about spending, saving, travelling and more. Data is sourced on a monthly basis in the United States and biannually globally, including in the UK, Australia, Japan, Mexico, India and Canada.

Over six in 10 also agreed that they pay attention to how a business takes action to reduce the impacts of climate change.

Those businesses that do demonstrate action in this critical area will be rewarded with a more loyal customer base.

Around eight in 10 UK adults agreed they would choose to shop with a business that takes action to reduce the impact of climate change, and they would be more likely to trust a company that works to address environmental issues.

The research showed that consumers are also turning to businesses for help when it comes to making more informed choices about their purchases.

Again, almost eight in 10 want companies to provide relevant consumer education on ways to reduce their carbon footprint when shopping with them. Furthermore, 82 per cent of respondents would like companies to provide options to offset carbon emissions associated with their purchases.

In light of its own findings, since 2018, American Express has remained a carbon-neutral company across its operations and has been powered with 100 per cent renewable energy.

Last year, the company committed to net-zero carbon emissions by 2035 and announced a $1million grant commitment to organisations and initiatives that drive action on climate change through 2025.

American Express is taking further action to support the reduction and removal of carbon emissions through a range of innovative solutions.

To reduce consumption of virgin plastic and eliminate waste, the company is expanding the availability of cards made from recycled materials globally with the goal of having the vast majority of plastic cards issued by American Express be made of at least 70 per cent recycled or reclaimed plastic by the end of 2024.

Alongside this, an expanded carbon footprint dashboard will also be available to American Express’ global corporate clients, including those in the UK, to help track emissions associated with their employees’ travel and entertainment spending

This allows these businesses to better understand purchasing behaviours so they can find opportunities to manage carbon emissions.

Stacey Sterbenz, general manager, global commercial services UK at American Express
Stacey Sterbenz

“The findings of our latest Trendex research clearly show that consumers expect businesses to step up when it comes to plans and policies around tackling climate change,” comments Stacey Sterbenz, general manager, global commercial services UK at American Express.

“The data also shows a significant opportunity for those companies that are acting on this critical issue, and the role they can play in helping to better inform their customers.

“At American Express, we’re proud to be helping back our business customers on this journey by offering them tools and insights to reduce their carbon emissions and promote more sustainable spending.”

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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