Environmental sustainability remains a primary concern for Gen Zs and millennials, a new study by Deloitte has found.
Around six in ten Gen Z and millennial consumers report feeling ‘worried’ or ‘anxious’ about climate change in the past month, with many of them actively taking steps to reduce their environmental impact, the Gen Z and Millennial Survey found.
In addition, consumers in this demographic believe that governments should exert more pressure on businesses to address climate change, and that businesses should help consumers make more sustainable purchasing decisions.
‘Protecting the environment is the societal challenge where respondents feel businesses have the most opportunity to drive change,’ Deloitte said. ‘Gen Zs and millennials are pushing business to act through their career decisions and consumer behaviours.’
Gen Z and Millennial Survey
Deloitte’s 13th Gen Z and Millennial Survey gathered insights from nearly 23,000 respondents across 44 countries, tracking their experiences and expectations in the workplace and beyond.
Among the core findings were that around a third of respondents believe their country’s economic situation will improve over the next year. According to Deloitte, this represents the highest level of economic optimism among this cohort since the 2020 survey, which was conducted before the COVID-19 pandemic.
Despite this, financial insecurity remains a significant issue among Gen Z and millennial consumers. Around 30% do not feel financially secure, and about 60% say that they ‘live paycheck to paycheck’.
The cost of living is their top concern, surpassing other issues such as climate change, unemployment, mental health, and crime/personal safety.
There is also some degree of uncertainty about the social and political outlook, with around a quarter of respondents expecting improvements in their country over the next year.
Purpose-driven work
In addition, nearly all Gen Zs and millennials seek purpose-driven work and are willing to reject roles that do not align with their values.
Reasons for rejecting employers or assignments include negative environmental impacts, contributing to inequality through non-inclusive practices, and lacking support for employees’ mental well-being and work/life balance.
