For the uninitiated, Generation-Y is the generation born in the 1980s and 1990s, comprising primarily the children of the baby boomers and typically perceived as increasingly familiar with digital and electronic technology. Interestingly, one of the largest populations of Generation Y’ers happens to be located in India.
The determination of these individuals to use environmentally friendly products within their personal capacity is having tangible results. Several companies have realized their responsibility towards the deteriorating environment and have come forward to market their products as green, eco-friendly or organic.
Today, many environmentally conscious Generation Y’ers have quietly switched to renewable sources of energy as they are encountering the ill effects of pollution everyday all around them.
Individuals are choosing not to be activists but are subtly taking a stand in controlling their own carbon footprint. Now, their actions are not intended to influence a global or even a national change but to be personally accountable for their duties to the environment.
The latest data from Central Electricity Authority shows that 20.45 percent of the total installed capacity of the country is from renewable energy sources. Apart from solar and wind, these also include generation from small hydro projects, biomass, and urban and industrial waste.
According to Deloitte’s annual Generation Y survey, 76 percent Indian millennials claimed to have chosen employers whose values matched their own; a finding supported by other research indicating young people’s preference for employers who demonstrate a “genuine commitment” to corporate social responsibility, the environment, and sustainability.
Another way individuals mark their inclination towards protecting the environment is by subtly but consistently purchasing green products.
The implication for brands is clear; environmental consideration is not some form of ‘corporate benevolence’, but a business reality and a business necessity.
Source- CNBC Website