In a recent article published by Forbes, Cornerstone advisors conducted a US study to understand thoughts around climate change as a social issue and to gauge what action has been taken and if there are barriers to taking action.
According to Cornerstone’s survey of 3,150 US adults, nearly one in four Americans consider climate change to be the most important social challenge facing the country. No other challenge was cited by that many respondents.
The article reveals some surprising facts…that nearly six in 10 Americans are very concerned about climate change, however only half have taken steps to reduce their carbon footprint.
The main takeaway is that consumers are looking for ways to take action and banks are uniquely positioned to offer the right tools to do so, “The (potentially) surprising news is that many — in particular, Gen Zers and Millennials — want help from the banks and credit unions they do business with.”
It’s not about value-signaling or pandering to a small group of Birkenstock clad tree-huggers. Climate-conscious and climate-aware consumers are mainstream consumers and there are opportunities for banks and credit unions to focus their corporate strategies around products and services to serve these consumer segments.
Forbes is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features original articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics, and law. Its headquarters is located in Jersey City, New Jersey. Primary competitors in the national business magazine category include Fortune and Bloomberg Businessweek. Forbes has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide.
The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America’s Wealthiest Celebrities, of the world’s top companies (the Forbes Global 2000), Forbes list of The World’s Most Powerful People, and The World’s Billionaires. The motto of Forbes magazine is “Change the World”. Its chair and editor-in-chief is Steve Forbes, and its CEO is Mike Federle. In 2014, it was sold to a Hong Kong-based investment group, Integrated Whale Media Investments.