The 2024 Watermark Study by Ecolab indicates a global trend of consumers abandoning products with high water usage due to escalating concerns over water scarcity. The majority of consumers in major regions are worried about access to clean water, with trust in companies and governments waning. Ecolab officials highlight the necessity for businesses to adopt responsible water practices to address these issues effectively.
A recent analysis, the 2024 Watermark Study conducted by Ecolab, a leader in sustainability, indicates a significant shift in consumer purchasing behaviors due to rising concerns regarding water scarcity. The study revealed that a considerable majority of consumers in various regions, including 80% in China, 69% in India, and 65% across the Middle East, Africa, and Latin America, have curtailed their purchases of products that excessively consume water. Furthermore, it underscores that access to clean and safe water remains a top concern globally, with a striking 90% of respondents in Latin America expressing serious worry about water-related issues. In the United States, that figure stands at 80%, highlighting that 71% of Americans are particularly troubled by the availability of clean water. The study uncovers a troubling trend: a decline in consumer trust towards businesses and governments when it comes to tackling water conservation, with less than half of the surveyed individuals in the U.S. and Europe believing that relevant entities genuinely prioritize water-related issues. Emilio Tenuta, Ecolab’s Senior Vice President and Chief Sustainability Officer, emphasized that the data significantly highlights the necessity of addressing water scarcity. He stated, “The data is clear that consumers care about water and the environment, and they are holding all of us responsible to act.” Tenuta further elaborated on the critical nature of clean water, indicating that many consumers prioritize clean water access above other environmental matters, as it is a tangible concern affecting daily life. He acknowledged the rise in global awareness campaigns regarding conservation and pointed out that companies are increasingly recognizing the relevance of comprehensive water management strategies in mitigating climate change effects. Victoria Edwards, Chief Executive and Co-Founder of FIDO Tech, remarked on the growing understanding among consumers, especially in urban settings, regarding the vulnerability of their water resources. She observed, “In the most enlightened corporations, like the multinationals we work with, water is rapidly becoming an issue for CFO and CEOs, not just for sustainability teams.” Edwards noted that businesses are now proactively seeking ways to enhance their water management practices, particularly at the community level, to honor pledges of water positivity appreciated by their customers.
The global discourse surrounding water scarcity has intensified, prompting consumers to reevaluate their purchasing decisions. Concerns regarding access to clean and safe water are paramount, with studies revealing a direct correlation between consumer behavior and environmental sustainability. Companies are beginning to recognize the pressing need to adopt responsible water management practices while consumers demand greater transparency and accountability from brands. This heightened awareness about water issues is steering corporate strategy, compelling organizations to integrate sustainable practices into their operations.
The 2024 Watermark Study underscores a transformative moment in consumer behavior regarding water scarcity and conservation. With a significant number of consumers actively altering their purchasing habits in response to concerns about excessive water use, and with a noticeable decline in trust towards businesses and governments, it is clear that sustainability has emerged as a vital concern. As organizations seek to navigate these challenges, the need for effective water management strategies becomes crucial, marking a fundamental shift in corporate responsibility towards environmental stewardship.
Original Source: www.forbes.com
