The study is based on 633 interviews with a global sample of senior marketing leaders. While CMOs in APAC were among the most invested in sustainability globally, the broader picture is less encouraging.
Only one-in-three (30%) global CMOs believe their customers expect their brand to address sustainability issues. Yet, wider GfK studies show that almost three-quarters (73%) of global consumers say it’s important that companies take environmentally responsible actions. A shocking perception gap.
“This finding represents a wider mental debate among marketing leaders,” says Garcia Villaneuva, CMO at NielsenIQ/GfK. “There are many consumer markets that put their money where their mouth is. They say they care about sustainability, and they buy sustainably, but there are a lot of big markets where this is less true. Marketing leaders know they have a finite budget and I suspect too many question themselves about putting the majority of it into sustainability-focussed activity.”
“Engaging with sustainability also presents a massive opportunity for CMOs to actually capture and show off the real purpose of their company,” concludes Garcia Villaneuva.
Gonzalo Garcia Villanueva, CMO at NielsenIQ/GfK
Meanwhile a senior marketing decision-maker at Vodafone told GfK that consumers want brands to be actively involved and to care for society. “They expect brands to behave sustainably, even if there is a cost—because it’s inappropriate not to. However, they need to continue to be authentic and ensure what they do has impact and meaning.”
The GfK findings come at a time when regulators in the Asia-Pacific region are paying closer attention to businesses that might be exaggerating their environmental credentials.
This occurred less than a month after the South Korean government warned some of the major energy and steel businesses in the country about making false statements about climate change and after Japan tightened the regulations on which funds can label themselves “ESG.”
Asia-Pacific isn’t on track to achieve any of its sustainability targets by 2030
According to Zahedi, the region has experienced a “rollback” in some sectors and is “going backwards” in terms of tackling climate change and promoting sustainable production and consumption.
Zahedi added that the regression is especially worrying given that the Asia-Pacific region is particularly vulnerable to climate change.
