80% of global toy market ‘still not answering call for better sustainability’, new white paper says – ToyNews
Despite the increase in consumer awareness and demand for better sustainability within the global toy industry, 81% of the market remains oblivious to the call to improve their commitment to the cause.
A new white paper produced to support the industry in its quest for sustainability found that the majority of the market has shown no commitment or anecdotal action to its sustainability measures, despite the recognition that action is “essential to success” .
Titled Changing the Toy World by Toy, the white paper was written by impact and sustainability consultant Sonia Sanchez as an in-depth study on the toy industry’s sustainability efforts, based on the analysis of the toy industry. ‘around 120 toy brands and their public sustainability reports, as well as toy industry media, surveys of 15 companies and a series of expert interviews.
Among the findings, the white paper found that while 93% of toy companies surveyed agree that managing their impact was “very important” or “vital” to their success, only 13% display a “comprehensive sustainability strategy” .
He found that six percent of the companies involved report a “strong commitment, but lack transparency” about their sustainability strategy, while a staggering 81 percent show no or only anecdotal commitment to the cause.
Some of the main challenges that many companies in the toy market face in achieving sustainability measures include such things as âthe lack of a strong sustainability strategyâ and âthe scarcity and cost of sustainable materialsâ. The white paper highlights the fact that many business models âpromote overproduction and overconsumptionâ, while many operate with tight margins.
However, the free white paper – available for download here – highlights that the toy industry is seeing the emergence of companies with a specific vocation which have given themselves the mission of helping to solve specific social and environmental challenges.
A professional in the childcare equipment industry for many years, Sanchez has played an essential role in the marketing and development of new products designed in Europe and manufactured in Asia. In recent years, Sanchez has turned to consulting in an effort to help brands develop better sustainability around their products.
âChanging the World Toy By Toy seeks to encourage open conversation within the toy industry,â Sanchez told ToyNews.
âHe wants to recognize all the joys and learning opportunities that toys bring to children’s lives while putting their cards on the table and highlighting the issues that harm people and the planet: overproduction, rapid trends, low recyclability and promote the conditions for violations of labor rights, among others.
âThe potential of toy brands to promote social change is huge and absolutely exciting. The first step in the journey is to openly recognize what needs to change. The good news is, customers are hungry for genuine brands.
The full white paper, Changing the World Toy by Toy by Sonia Sanchez can be downloaded here for free.