Why is conscious consumerism the key to a sustainable future?

Did you know that one third of all food produced around the globe ends up in the bin? It has also been estimated that, by 2050, we will require the equivalent of almost three planets to ensure the natural resources necessary to maintain our current pace of life. 

Many of the environmental problems that today pose a threat to our planet are both cause and consequence of our consumption patterns. While big business has a major responsibility in this issue, consumers have more power than they realise. Here is a small - but great - step that can be taken which might just prove vital: conscious consumerism.

What is conscious consumerism and why is it so important?

Conscious consumerism is an attitude and a lifestyle, which above all deals with two matters: consuming less and ensuring that what we do consume is as sustainable as possible. Following this concept, the main features of conscious consumerism are:

1. Ethics: it prioritises values such as responsibility and respect. 
2. Critique: it entails the deconstruction of imposed beliefs.
3. Consciousness: deliberately fighting against fashion and advertising.
4. Sustainability: it promotes a less wasteful, more environmentally friendly lifestyle. 
5. Solidarity: with fair-trade producers, other species, and with future generations. 
6. Health benefits: conscious consumerism inspires us to have healthier habits, as well as being a powerful source of wellness and happiness, living in a way more aligned with our values.

Conscious consumerism can be a powerful tool when it comes to driving change in our society and on our planet, forming part of official and urgent agendas in most countries around the world. For the United Nations, for example, sustainable consumption is Goal 12 of Agenda 2030, a guide for the transition towards a more supportive and greener global economy. una guía para la transición hacia una economía global más verde y solidaria.

What is the current profile of a conscious consumer?

In Europe, the European Consumer Payment Report was recently published, analysing the data of more than 24,000 consumers in 24 different countries. This report paints a picture of who "conscious consumers" are.

For example, in Spain, Generation Z is leading the change: six out of ten young people between the ages of 18 and 21 say they are committed to sustainability and have significantly reduced their expenditure. In the 22 to 37 age range, the rate of engagement is 54%. However, some 74% of the Spanish population says that the pandemic has changed the way they consume and, today, they are more likely to buy locally. In fact, Spain ranks third out of countries most likely to buy locally, behind only Portugal and Ireland. 

Meanwhile, a study by The Nielsen Company shows that this movement is also booming in Latin America. Gen Z and millennials are also leading the Latin American change, with 80% to 85% of respondents in this age group considering themselves to be well-informed about sustainable production. Indeed, in countries such as Colombia and Mexico, half of the population opts for sustainable products, even when these are more expensive. Conversely, on a global scale just 37% of consumers do so.

Do you want to reorient your professional career towards sustainability or to play an active role in your organisation's sustainable initiatives? Banco Santander has launched the Santander Course | Skills for the Green Transition 2024, all this with Santander Universities and Cambridge Judge Business School, with which you will acquire the necessary tools to engineer a cleaner future.

Over six-weeks, in this 100% online course, you will gain an understanding of environmental challenges and acquire the tools you need to address them. You will create your own individual action plan, explore the impact of green initiatives on markets and organisations, as well as how companies are reacting to environmental pressures.

Additionally, if you successfully complete the course, you will receive a certificate from Cambridge Judge Business School, the world's leading research institution on today’s environmental issues. And remember, the course is free for all beneficiaries, whether or not they are Banco Santander customers, and does not require a university degree.

Are you over 18 and want to work for a cleaner future? If you want to acquire all the knowledge and tools to contribute to a sustainable development, sign up for the Santander Course | Skills for the Green Transition 2024. Make the most of this opportunity and start generating solutions to lead the change!