Consumers happy to pay premium for green products

Over a third of European consumers are prepared to pay a premium for environmentally friendly products, according to a new study by Panasonic Europe.

The research found that over a third of European consumers claim to make a conscious effort to help the environment. One in eight said that they would always choose the environmentally friendly brand given the option; and 36 per cent said they would be prepared to pay a premium for environmentally friendly products.

This comes at a time when Panasonic Europe has just announced its European targets on its ‘eco ideas’ initiative - a ’statement of eco intent in Europe’ in which it is committing to reduce CO2 emissions by more than 6,000 tons.

Twelve months ago Panasonic announced its global environmental strategy. One year on, it is announcing a new strategy across the continent in which it is committing to reduce CO2 emissions by more than 6,000 tons until end of March 2010 based on level of end of March 2007 - enough to fill the Panasonic factory in Cardiff twice over or take more than 2,000 cars off the road - based on Energy Saving Trust estimate of 2.9 tonnes annual CO2 emissions per car. At the same time Panasonic is committing to launch 20 new industry-leading products by spring 2010.

The new commitments for Europe reflect Panasonic’s ‘eco ideas’ declaration that focuses on three key areas: producing energy efficient products, featuring the new ‘eco ideas’ label; reducing CO2 emissions at all manufacturing sites; and encouraging the spread of environmental activities for people such as employees as well as customers. CO2 emission reductions have also become one of the key management indicators, impacting directly on executive bonuses.

Yoshiiku Miyata, CEO of Panasonic Europe, comments: “At Panasonic, we are not interested in making promises we cannot keep. What we are interested in is achieving sustainable change that will make a real difference to the global environment in the twenty-first century.

“At its foundation Panasonic placed the role it plays in society at the core of its business and the modern business has retained the same philosophy. As early as 1918 the product which launched our founder, Konosuke Matsushita, into consumer electronics was actually made from recycled materials. Ninety years on, I am delighted to be able to announce the action we’ll be taking to deliver against the ‘eco ideas’ strategy set-out last October in Japan.”

Pelham Morgan, Environmental Officer at Panasonic Manufacturing Company in Cardiff, Wales, added: “The eco relay is a great opportunity for us to involve all our staff and get our hands dirty at grassroots level as well as raising awareness of the new ‘eco ideas’ targets we’re all working towards in Europe. We’re looking forward to turn ‘eco ideas’ into eco action that will ensure we achieve lasting change to create a truly sustainable future for everyone.”

For further information about the Panasonic ‘eco ideas’ and its most recent Environmental Data Book, go to www.panasonic.net/eco