Only 23% spend less on sustainable products and services

Amsterdam, 16 February 2023 ‒ Despite higher energy bills and sky-high inflation, as many as 71% of Europeans say they are living more sustainably than they were one year ago. This is one of the main findings of an international survey conducted by bunq among German, French and Dutch millennials (aged 28-42) and Gen Zs (aged 18-27).

A considerable proportion of European Gen Zs and millennials are aiming for long-term change in their own behavior. More specifically, almost a quarter (23%) aim to consume less in 2023, 15% have opted to work from home more often and 13% have resolved to go on fewer trips.

Greening

Almost a quarter (23%) of the surveyed Gen Zs and millennials are spending less on sustainable products and services compared to one year ago, but more than two thirds (68%) are still willing to pay a higher price for a more sustainable alternative. This is true for food (29%) and clothing (24%), as well as energy (17%) and financial services (10%).

Obstacles

More than half (57%) of respondents say they lack funds necessary to lead a more sustainable lifestyle. Moreover, 20% of European Gen Zs and millennials believe they don’t put in as much effort as they should, coupled with 17% of young Europeans who lack the knowledge necessary to go green.

The survey shows that businesses also have an important role to play, for as many as 83% of European Gen Zs and millennials surveyed believe that companies should do more to offer their users more sustainable products and services.

“Climate change is too big to fight alone, which is why we’re doing it together with our users,” says Ali Niknam, founder and CEO of bunq. “We’re committed to building a greener future for everyone and empower our users to contribute to the environment simply by using bunq.”

Today, bunq reached another green milestone and planted 10 million trees on behalf of its users. Through the neobank’s partnership with Eden Reforestation Projects, bunq empowers its users to offset their carbon footprint just by using bunq, by planting a tree in Kenya and Madagascar for every 100 euro spent. To celebrate this occasion and to bring sustainability closer to home, bunq has today planted its first tree in the Utrecht area in the Netherlands, thanks to a partnership with Trees for All, a CBF-recognized charity that supports sustainable forestry projects all over the world.