Panellists tilt towards wealth preservation, health and pragmatism
Our third annual CRR ESG survey reveals a shift in Chinese consumer mindsets towards personal economic sustainability. Socially, they are increasingly concerned over jobs and well-being. Environmental awareness remains high, but panellists are comfortable with action taken so far. In governance, attention towards companies’ boards and management has strengthened. Expectations over ESG investment vehicles have rationalised as investors demand more information.
Social: Income sustainability
Income sustainability is the priority for consumers as they feel the pinch of an economic downturn, bringing concerns about employment, wealth and well-being to the fore. We note a greater desire for a social safety net and tighter regulation in the healthcare and food & beverage (F&B) industries.
Environment: Consciously green
Attention to climate change remains elevated (86%), driven by personal experiences. But the urgency of action is softening as consumers feel comfortable with the measures already in place. Their propensity to pay for green products has reduced, but they want to know their carbon footprint and view putting a price on carbon as inevitable.