What is ethical consumerism? Is it OK to drive a non-electric vehicle any more? Should we be more concerned about the impact of disposable plastics? How come more isn’t being done by the government to drive change? Why should spending choices hit you in your savings when it technically benefits everyone? Shouldn’t we all be in this together and not just leave it to those who can afford better and more ethical spending?
All great questions (read more on the topic: recent research from Wealthify). Historically, the world has entered a phase of – hopefully – no return, with major world leaders agreeing to cut emissions over the coming decades. That’s all fantastic news for the generations to come. But what about us? How can we become ethical consumers in a time where governments leave it up to us to make smart decisions yet don’t subsidise our expense? Being ethical on a budget is tricky. But there are ways.
Every purchase counts
Big companies need big data. They actually don’t seem to care all too much about their goods or services, as such, with everything on the table when it comes to profits. For example, if a flagship product isn’t selling it’ll be unceremoniously removed. If something else seems to be selling way better than expected, research will follow and resources will be directed accordingly. Data changes production.
It’s a matter of giving the people what they want. There’s no such thing as a brand that willingly reduces sales in favour of better ethics (not without some sort of long game in mind). You have the power. Search online for how to buy your favourite products from ethical sources. You may only be one person not buying from the supermarket. But eventually, if enough people buy their fresh produce from ethical sources, the number of fuel-burning haulage trips needed to supply the supermarket will come down. You can make savings too because local vendors often need buyers, and that means you get a great deal while doing your bit for the climate.
Look for organic labels
This tip requires a little lateral thinking but if you can spend smart on products that last, you’ll save money over the months and years in comparison to constantly replacing products with a shorter life cycle.
Organic labels on things like clothing give a great indication that care has been taken to produce the raw materials with the environment in mind. How? Take cotton, for example. Cotton is a plant. It grows in a field. Insects like to eat plants in fields, and so cotton producers are keen to invest in pesticides. The only problem is that pesticides are detrimental to the local ecosystem. Rain washes the chemicals into rivers and streams, polluting all manner of flora and fauna on the way. But organic producers find other solutions.
Always look for the organic label to help you decide the best way to divert your spending power – not only for the benefit of your bank balance (in terms of making smarter long term purchases) but for the wider benefit of the farmland and surrounding areas.
