{"id":12753,"date":"2020-08-27T09:00:07","date_gmt":"2020-08-27T07:00:07","guid":{"rendered":"https:\/\/my-life.lu\/?p=12753"},"modified":"2020-09-04T11:19:20","modified_gmt":"2020-09-04T09:19:20","slug":"what-stops-consumers-from-saving-the-planet-30065","status":"publish","type":"post","link":"https:\/\/my-life.lu\/en\/what-stops-consumers-from-saving-the-planet-30065\/","title":{"rendered":"What stops consumers from \u201csaving the planet\u201d?"},"content":{"rendered":"<div id=\"playht-iframe-wrapper\" style=\"max-height: 210px !important;\">\n\t<iframe\n\tscrolling=\"no\"\n\tclass=\"playht-iframe-player\"\n\tid=\"playht-iframe-player\"\n\theight=\"90px\"\n\twidth=\"100%\"\n\tframeborder=\"0\"\n\tstyle=\"max-height: 90px; height: 90px !important;\"\n\tsrc=\"https:\/\/play.ht\/embed\/?article_url=https:\/\/my-life.lu\/?p=12753&voice=en-GB-Standard-A&appId=fiFJxxWiUV3tImG&trans_id=-MI-Qs3zFmf5oZIhHY3E\"\n\tdata-voice=\"en-GB-Standard-A\"\n\tarticle-url=\"https:\/\/my-life.lu\/?p=12753\"\n\tdata-appId=\"fiFJxxWiUV3tImG\"\n\tallowfullscreen=\"\">\n\t<\/iframe>\n<\/div>\n<p class=\"entete\">We are all worried about the environment. We know we need to save the planet. So why do so few of us make tangible changes in our day-to-day lives to make the future greener? Is it that we\u2019re just not very civic-minded? No. It\u2019s due to our collective apathy and a misplaced sense of powerlessness against what is a global challenge.<\/p>\n<p>No matter what anyone says, we can all make changes that benefit both our planet and our wallets. To help you shift your behaviour, myLIFE is going to explain how this cognitive bias skews perceptions of environmental issues. This article will highlight the obstacles that stop us changing our habits and will show us that, as consumers, we have the power to save the planet.<\/p>\n<h2 id=\"h2_0\" >The little habits that stop us seeing the bigger picture<\/h2>\n<p>Let\u2019s be honest. While we may have good intentions to be greener, they rarely translate into meaningful action. Cognitive biases distort our decision-making and may prevent us from changing our own behaviour to combat a global problem.<\/p>\n<blockquote><p>This cognitive dissonance means our good intentions don\u2019t always lead to action.<\/p><\/blockquote>\n<p>In behavioural finance, these disparities between individuals\u2019 beliefs and behaviour are termed \u201ccognitive dissonance\u201d \u2013 a phenomenon that leads to an \u201cintention-action\u201d gap, i.e. a mismatch between beliefs and actual behaviour. It means our good intentions don\u2019t always lead to action.<\/p>\n<p>This intention-action gap doesn\u2019t only affect our relationship with global warming. It comes into play in a whole host of all-too-familiar situations, like when we say we\u2019re going to save more money but never actually do so. Or when we promise ourselves that we\u2019ll finally get out and do exercise every day, but not until tomorrow. In terms of the environment, this dissonance may take the form of intending to buy a more sustainable product but continuing to buy our usual brand for now. It may also be wanting to make a few small changes to benefit the planet but then still leaving the light on when we leave a room or not turning the tap off when we brush our teeth.<\/p>\n<p>Our everyday behaviours \u2013 things we do without thinking \u2013 are the root cause of these disparities. Other various behaviour patterns can explain the specific mismatch between our consumption and our stance on global warming.<\/p>\n<ol>\n<li>We don\u2019t always see the impact of our consumption first hand, and we find it hard to understand how our personal consumption fits into the global picture. Environmental issues feel like abstract, far-away problems.<\/li>\n<li>Even if we can see the benefits of sustainable consumption, we may consider it irrelevant to us and brush it aside. We humans like to stay in our comfort zone and maintain the status quo. We see change as a source of uncertainty and stress and tend to think that we have more to lose than gain by shifting our behaviour. All this means we rarely take the plunge and make changes.<\/li>\n<li>Our behaviour is influenced by underlying social norms. If nobody close to us is changing their habits, we don\u2019t change ours either so as not to stand out from the crowd.<\/li>\n<li>Choosing sustainability over simplicity for our consumption habits requires mental effort that many of us are not prepared to make every day.<\/li>\n<li>We are fatalistic \u2013 the prophets of doom around us prevent change. Communication on societal challenges is all too often focused on the risks posed by the status quo rather than emphasising the benefits of change. More and more studies are showing how ineffective negative arguments are.<\/li>\n<\/ol>\n<p>All these different aspects help explain why people are generally able to comprehend the existence of a problem and appreciate its implications (e.g. climate change) yet simultaneously refuse to accept that their actions matter or that they will be personally affected unless they change their behaviour.<\/p>\n<p>Let\u2019s think about it in terms of money. By refusing to change our habits, we are wilfully turning a blind eye to the problem. And we\u2019re doing so with an ever-clearer conscience, telling ourselves that there is not even a general consensus at international level on how best to save the planet. We convince ourselves that we are powerless. And this becomes yet another form of cognitive bias to distort our environmental decision-making. Why should we believe that our actions will change anything if governments can\u2019t come to an agreement among themselves and don\u2019t play by the rules either? This reasoning is rather simplistic. We can all change our consumption habits right now and do our bit to save the planet.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-12749\" src=\"https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-scaled.jpg\" alt=\"\" width=\"863\" height=\"572\" srcset=\"https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-scaled.jpg 2560w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-300x199.jpg 300w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-1024x678.jpg 1024w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-768x509.jpg 768w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-1536x1018.jpg 1536w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-2048x1357.jpg 2048w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-1080x715.jpg 1080w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_3-395x262.jpg 395w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/p>\n<blockquote><p>Combined, all these small changes to save money around the house and elsewhere have a significant, far-reaching impact on the environment.<\/p><\/blockquote>\n<h2 id=\"h2_1\" >Every contribution counts<\/h2>\n<p>We need to change our perceptions. The small changes we can all make should not be seen as a drop in the ocean. They are an essential link in the chain of actions we need in order to save the environment.<\/p>\n<p>The billions of tiny decisions people around the world make each day \u2013 whether it\u2019s what to buy for the weekly shop, how to commute to work, which rooms to heat in our homes or whether we leave the tap on when brushing our teeth \u2013 can all have a substantial effect. Combined, all <a href=\"https:\/\/my-life.lu\/en\/save-money-around-house-51016\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>these small changes to save money around the house<\/strong><\/span><\/a> and elsewhere have a far-reaching impact on the environment. The decisions we make not only change our habits, but also influence the choices of those around us. So, by expanding these actions and getting ever more people on board, we can change social norms and make a tangible difference.<\/p>\n<p>Let\u2019s look at growing consumer demand for healthier, organic food, for instance. New brands have sprung up. Local short-channel sales are growing. Prices have dropped.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-12746\" src=\"https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-scaled.jpg\" alt=\"\" width=\"863\" height=\"575\" srcset=\"https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-scaled.jpg 2560w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-300x200.jpg 300w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-1024x682.jpg 1024w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-768x512.jpg 768w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-1536x1023.jpg 1536w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-2048x1364.jpg 2048w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-1080x719.jpg 1080w, https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065_2-395x262.jpg 395w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/p>\n<p>Today in Luxembourg, buying your eggs directly from the farmer down your street is good not only for your health and the planet, but your wallet too. It\u2019s time we stopped relying on the same old excuses we use to justify not changing our behaviour. It\u2019s time to take the plunge. What have you got to lose?<\/p>\n<p>So, what is the takeaway from all this? We consumers have the power to make a more sustainable and responsible economy the norm. This new economy may itself not be the solution to climate change, but by making the right choices we can all help protect the environment. The same goes for individual investment decisions. The money we invest shapes the financial system and we need to remember (as we explain in another article) that <a href=\"https:\/\/my-life.lu\/en\/invest-wisely-and-help-save-the-planet-30071\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>every euro counts when it comes to saving the planet<\/strong><\/span><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We are all worried about the environment. We know we need to save the planet. So why do so few of us make tangible changes in our day-to-day lives to make the future greener? Is it that we\u2019re just not very civic-minded? No. It\u2019s due to our collective apathy and a misplaced sense of powerlessness &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/my-life.lu\/en\/what-stops-consumers-from-saving-the-planet-30065\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;What stops consumers from \u201csaving the planet\u201d?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":11,"featured_media":12743,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","beyondwords_generate_audio":"","beyondwords_integration_method":"","beyondwords_project_id":"","beyondwords_content_id":"","beyondwords_preview_token":"","beyondwords_player_content":"","beyondwords_player_style":"","beyondwords_language_code":"","beyondwords_language_id":"","beyondwords_title_voice_id":"","beyondwords_body_voice_id":"","beyondwords_summary_voice_id":"","beyondwords_error_message":"","beyondwords_disabled":"","beyondwords_delete_content":"","beyondwords_podcast_id":"","beyondwords_hash":"","publish_post_to_speechkit":"","speechkit_hash":"","speechkit_generate_audio":"","speechkit_project_id":"","speechkit_podcast_id":"","speechkit_error_message":"","speechkit_disabled":"","speechkit_access_key":"","speechkit_error":"","speechkit_info":"","speechkit_response":"","speechkit_retries":"","speechkit_status":"","speechkit_updated_at":"","_speechkit_link":"","_speechkit_text":""},"categories":[188,15],"tags":[400],"class_list":["post-12753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-en","category-myinvest-en","tag-investment","my_invest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What stops consumers from \u201csaving the planet\u201d? - myLIFE<\/title>\n<meta name=\"description\" content=\"We\u2019re all worried about the environment, right? 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So why do so few of us make tangible changes in our day-to-day lives?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/my-life.lu\/en\/what-stops-consumers-from-saving-the-planet-30065\/\" \/>\n<meta property=\"og:site_name\" content=\"myLIFE\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-27T07:00:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-04T09:19:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/my-life.lu\/wp-content\/uploads\/2020\/08\/Article_30065.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2242\" \/>\n\t<meta property=\"og:image:height\" content=\"1802\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Delphine Dard-Pourrat, Behavioural finance expert\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Delphine Dard-Pourrat, Behavioural finance expert\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/\"},\"author\":{\"name\":\"Delphine Dard-Pourrat, Behavioural finance expert\",\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/#\\\/schema\\\/person\\\/84e6229e48fa68434bf18ec6c4f68d6b\"},\"headline\":\"What stops consumers from \u201csaving the planet\u201d?\",\"datePublished\":\"2020-08-27T07:00:07+00:00\",\"dateModified\":\"2020-09-04T09:19:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/\"},\"wordCount\":1121,\"publisher\":{\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/my-life.lu\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/Article_30065.jpg\",\"keywords\":[\"Investment\"],\"articleSection\":[\"Investment\",\"myINVEST\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/\",\"url\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/\",\"name\":\"What stops consumers from \u201csaving the planet\u201d? - myLIFE\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/my-life.lu\\\/en\\\/what-stops-consumers-from-saving-the-planet-30065\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/my-life.lu\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/Article_30065.jpg\",\"datePublished\":\"2020-08-27T07:00:07+00:00\",\"dateModified\":\"2020-09-04T09:19:20+00:00\",\"description\":\"We\u2019re all worried about the environment, right? 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