The Economic Potential to Support Sustainability through Household Consumption Choices
Published: 31 October 2018
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The amount of money that could potentially be saved by households by reducing unnecessary consumption and directed to sustainable investments without compromising the social needs in Finnish households was studied. The study was conducted by using statistical data and by creating short- and long-term scenarios to assess potential savings resulting from changes in household behaviour. According to the results, a Finnish household could save and subsequently allocate an average of €3400–€15,000 annually to invest in sustainability. The greatest potential for preventing unnecessary consumption is related to (1) food and drinks, and (2) transportation. In the long-term scenario, reducing expenditures in the category of housing also provides opportunities for high savings. A significant share of the saving created by sustainable patterns of consumption can be directed for example to investments in renewable energy.