21 August 2024.

Company climate action makes staff proud to stay, while no plan risks young worker exodus.

Workers will reward employers for having a climate action plan and remaining committed to improving environmental outcomes with loyalty and an enhanced reputation that attracts the best talent.

Released today, the second quarter results of ZEN Energy’s This is Transition national research project found that while there are significant benefits for companies in committing to climate action, more than a third (37%) don’t have a plan and, if there is one in place, many workers (38%) say they know little or nothing about it.

However, the survey of 1,140 Australian workers found that once informed, they wouldn’t want to work for a company that isn’t committed to emissions reduction efforts.

Additionally, 34% of younger workers (18-35 years) are willing to change jobs if a company does not demonstrate a genuine commitment to climate action, while only 8% of workers 55 years and older would change jobs.

This is Transition’s in-depth qualitative and quantitative research of where Australians work and their views of their employer’s action on climate change also found that demonstrating a genuine commitment made a company an employer of choice and is a source of pride for staff.

64% of workers say they are proud to work for an employer that takes climate change seriously, while 70% of workers at companies with no climate action plan have a negative view of their employer as a result.

Key results of This is Transition Quarter 2 research:

1. A quarter of all workers (26%) are informed about their employer’s climate change commitment and action plan. But, overall, awareness that climate action plans exist remains low.

2. There are more than double the number of climate action plans in the construction (41%) and manufacturing (32%) sectors than in education (17%) or health (10%) sectors.

3. Having a climate policy builds a positive connection between employer and employees:
• 64% agree that they are proud to work for an employer who takes climate change seriously.

• 43% would consider changing employer if they did not make a serious commitment to climate action.

• 77% of people working at companies with a climate action plan
credit their employer as being genuine about reducing emissions.

4. Among companies who say their employer does NOT take climate change seriously:
• Only 38% say their employer’s ethics align with their own.

• 21% would consider changing employer if they did not make a serious commitment to climate action.

• Only 23% say they are proud of their employer’s position on climate action.

• 70% of people working at companies with no climate action plan say their employers are not taking climate change seriously.

5. Having a plan to reduce climate emissions makes companies an employer of choice:
• 36% of all Australian workers will choose to work at a company that has a plan to reduce its climate impact over those that don’t.

• 26% of workers say they would consider changing employer if they did not make a serious commitment to reduce its carbon emissions or become carbon neutral.

6. Among the three-quarters of workers who are actively investing in Australian businesses, 40% believe a commitment to emissions reduction influences their decision to invest, while a company’s demonstrated commitment to ESG (Environment, Social and Governance) is important to 85% of investors.

Quotes attributable to Anthony Garnaut, CEO of ZEN Energy:

“This research can provide confidence for companies with a strong commitment to sustainable practices and carbon-neutrality to keep leading from the front.

“The findings of This is Transition’s second quarter study reveals there are business rewards in addition to contributing to cutting Australia’s emissions, such as staff retention, as well as attracting new, values-aligned customers and talented staff.

“At ZEN, we have grown and enjoyed success because we are a values-aligned business. Our clear goal is to focus on customers who contract 100 per cent renewable energy or are willing to embark on a journey to 100 per cent renewable energy in the next decade.”

Media enquiries: Paul Sheridan, 0410 516 656, paul.sheridan@zenenergy.com.a