News / How can renewables boost the “Ethics-Factor” for your brand?

How can renewables boost the “Ethics-Factor” for your brand?

Ethical brands are among the most successful – and fastest-growing – in the UK. Here we examine how choosing renewable energy could help your business develop its brand and succeed.

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According to the Markets Report 2017 from publisher and consultancy Ethical Consumer, the UK market for ethical products and services is worth £81.3bn per year. What’s more, the sector’s grown by over £43bn – more than doubling in size – since 2015.

Across all sectors, more businesses are using renewable energy to help promote their sustainability and ethical credentials. And for good reason. Using data from 3,500 companies, research shows that businesses committed to 100% renewable electricity consistently out-perform others in terms of net profit and EBIT (Earnings Before Interest and Taxes) margins.

During 2018, 97.19% of Haven Power’s new customers opted for our 100% renewable electricity. This reflects a more widespread trend: Government statistics show that renewables’ share of electricity generation was 31.7% in Q2 2018, at 24.3 TWh (an increase of 3% on the 23.6 TWh in Q2 2017).

Consumers have long said that they were prepared to pay extra for brands that treated the planet, their workers and their customers well. And that is now being proved to be true – in spades.

In May 2018, multinational FMCG giant Unilever “revealed its fourth consecutive year of growth for its ‘sustainable living’ brands, which grew 46% faster than the rest of the business and delivered 70% of its turnover growth.”

Grace Farraj, SVP, Public Development & Sustainability, Nielsen, explained what’s so positive about ethical brands for their owners:

“Brands that establish a reputation for environmental stewardship among today’s youngest consumers have an opportunity to not only grow market share but build loyalty among the power-spending Millennials of tomorrow, too.”

On a smaller scale, family-run holiday company Low Costa Mill is using its commitment to renewable energy to help grow its brand and reduce its carbon footprint. Having decarbonised its business with renewables, solar photovoltaic (PV) cells, insulation and heat pumps, the company’s getting rave reviews on TripAdvisor and has achieved Gold Eco Leader status with the same travel website.

By choosing renewables, the company saves money on its energy bills, reduces its carbon emissions and differentiates its brand. Owner Dave Goodfellow says: “Low Costa Mill Holiday Cottages are proud to be supplied with renewable energy from Haven Power.”

Established businesses such as Gatwick Airport are also using sustainability to build their brands. This was the first London airport to achieve 100% carbon neutrality, partly by using only renewable energy sourced through Haven Power.

To find out how Haven Power can help your business switch to renewable energy and thrive, please get in touch via our contact form.

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