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By Lee Kyung-min
Seven out of 10 consumers are willing to pay extra for products made by firms that have excellent track records in environmental, social and corporate governance (ESG) practices, a survey showed Friday.
The finding underscores the need for a continued green corporate drive, increasingly being revisited due to the second Donald Trump administration’s “America First” policy that deprioritizes diversity, equity and inclusion — a key part of the sustainable growth initiative that has dominated the world over the past decade.
According to a survey jointly conducted by the Korea Economic Research Institute and Korea Research, 73 percent of respondents said they were willing to pay more for products made by companies that bolster environmental protection.
About 70 percent said they would do the same for companies that fulfill corporate responsibilities.
Respondents in the 50 to 60 age group were more willing to pay extra, compared to their peers in the 20 to 29 age group.
More than a third —35 percent — said they would evaluate companies highly if they made significant corporate efforts for environmental protection.
About 23 percent said they would do the same for companies that prioritize the value of kindness over profit, with 13 percent also commending companies with inclusive efforts for underprivileged income groups.
More than half of the respondents said they recognized firms with excellent ESG practices through the “green mark” on their products.
They said ESG considerations are the most important when they buy beverages and daily necessities.
Around 55 percent of respondents said “continued commitment” to the ESG drive is the most important factor in buying from a company.
About 64 percent said they participated in a boycott of companies with questionable ESG practices.
English (United States) ·