REASOn #4
The Importance of Sustainability
In Rancho Mirage, California, a remarkable subdivision is taking shape. The development will feature 15 homes that all have the same groundbreaking trait - they'll be made with 3-D printing technology.
In Rancho Mirage, California, a remarkable subdivision is taking shape. The development will feature 15 homes that all have the same groundbreaking trait - they'll be made with 3-D printing technology.
The 3-D printing technology offers a sustainable manufacturing method that creates less waste1 and allows for more efficient designs. Because of this, the presale for the homes closed out within days. The buyers? Most were tech-savvy millennials2 with a passion for sustainability, said Basil Star, CEO of homebuilder Palari, to the Los Angeles Times.
While all generations are concerned about sustainability and energy efficiency in homes, some are more serious about it than others.
Members of Generation Z (73%) are more willing than their counterparts in other generations to pay more for sustainable products, followed closely by millennials at 68%, according to the State of Consumer Spending Report3 by First Insight. Also, Gen Zers (54%) and millennials (50%) would pay 10% more for sustainable products.
One main difference is that these generations aren't just looking for energy efficient appliances to save on utility costs. While that's certainly a benefit, they see sustainable, environmentally friendly homes as a reflection of their own personal identity.
"They want brands and products that are extensions of them," said Corey Ross, Director of Consumer and Marketplace Insights at Whirlpool Corporation. "It's much more important than putting a sticker on a product and saying it's energy efficient. Sustainability is so key because it's a big component of who they are and what they believe. They want the brands to really reflect their views of the world."
This mindset is influencing home design and the home sale process. Green/energy efficient features were more important in new homes among Gen Z and millennials than any other generation, according to the National Association of Realtors' 2021 Home Buyers and Sellers Generational Trends Report4.
"Agents have found energy efficiency and eco-conscious features to be implicit demands among younger buyers," according to a report on 2021 global luxury by Sotheby's.
Whirlpool Corporation has long been committed to environmental sustainability, looking at products from a complete life-cycle perspective, including design, production, use in home, and collection and recycling. The company designs new products by considering specific attributes to improve resource efficiency, which includes energy and water efficiency (impacting the use phase of products) and materials efficiency (impacting the design and end-of-life phases of products). Allowing consumers to choose different modes and settings when operating the appliance can reduce overall energy, water, and detergent demand while providing optimal performance.
Customers can be confident that Whirlpool Corporation is committed to building a more sustainable future through sustainable plants, products and practices. In 2020, the company made strides in delivering positive environmental change, as outlined in its 2020 Sustainability Report. For example, Whirlpool Corporation:
- Achieved zero waste to landfill in 25 of its 35 sites, or 71% earning Gold or Platinum status in 2020.
- Greenhouse gas emissions reduction targets (Scopes 1, 2 & 3) were approved by the Science Based Targets initiative (SBTi)-the leading independent assessor of emissions targets-and are consistent with reductions required to keep global warming to well below 2 degrees Celsius, as set by the Paris Agreement. Over the last four years, Whirlpool Corporation has delivered a 20% reduction in those emissions.
- Achieved record low levels of energy and water intensity in its plants.
- Entered into a virtual power purchasing agreement (VPPA) that's expected to cover 15% of its global Scope 2 emissions through investments in wind energy in the U.S.
By creating products that perform great while lowering operating costs and environmental impacts, the brand is able to give customers more choices, not compromises.