Some 56% of firms operating in the pet industry say that sustainability is integrated into their corporate strategy, according to a report by the Pet Sustainability Coalition (PSC).
The PSC’s report, State of Sustainability in the Pet Industry, was based on data collected through the coalition’s Annual Benchmark Assessment, and found that sustainability is now embedded in the strategic planning of many pet industry businesses.
‘Proactive strategy’
‘Key findings show that while the industry is keenly focused on climate risk and supply chain ethics, a significant gap remains in translating core consumer demand into sustainability-focused purchasing,’ the PSC noted.
‘To succeed in a future defined by intensifying global legislation, companies must adopt a proactive strategy that integrates sustainability into financial planning now, leverages the power of ethical claims, and prepares for shared solutions.’
Among the findings, half of respondents described themselves as being in the early stages of their sustainability journey, however progress is being made in terms of sustainability governance, with four fifths (79%) reporting that they have a formal sustainability representative or team in place. More than two fifths (42%) say that they also publish a regular sustainability report.
Some 81% of respondents reported increasing their use of renewable energy, while three quarters (75%) said that they are making efforts to reduce overall energy consumption.
Consumer expectations
Consumer expectations are a key driver of these changes, with 84% of pet owners believing that businesses should take responsibility for addressing climate change, and pet owners more likely than non pet owners to purchase products that are positioned as sustainable.
However, just a small proportion state that they actively prioritise sustainability when making purchases, with cost of living pressures still having a major influence on buying decisions.
Elsewhere, younger pet owners, particularly Millennials and Gen Z, show stronger expectations around sustainability. Read more here.
