Global Companies Work with Consumers to Reduce Waste

As consumers, we are very wasteful. Annually, the world generates 1.3 billion tons of solid waste. This is expected to go up to 2.2 billion by 2025. The OECD countries are responsible for 44% of waste, and in the U.S. alone, the average person throws away their body weight in rubbish every month.

Conventional wisdom would seem to suggest that companies have no incentive to lengthen the life cycle of their products and reduce the revenue they would get from selling new goods. Yet, more and more businesses are thinking about how to reduce consumer waste. This is partly driven by the rising price of raw materials and metals, and partly due to both consumers and companies becoming more aware of the need to protect our environment.

More and more consumers are looking into sustainability—as opposed to just price and performance—when choosing what products to buy and which brands to buy from. In a survey of 54 of the world’s leading brands, almost all of them reported that consumers are showing increasing care about sustainable lifestyles. At the same time, surveys on consumers in the US and UK show that they also care about minimizing energy use and reducing waste.