Acclaimed horticultural economist Dr Charlie Hall form Texas A&M University presented on the economics of sustainability in the greenlife industry. We thank Kiwiflora for sponsoring this session.
Charlie presented a situation outlook for the plants and landscaping industries with data highlighting that changes in that way people live and work since the Covid crisis have benefitted the greenlife industries at a critical time. 2021 saw the highest demand for plants in the history of our industry.
The upcoming recession and housing correction is uncertain for our sector, however history tells us that is it likely that people will spend less money by spending more time at home. In this case the spending they do is more likely to be on their houses and gardens.
Worldwide, grey infrastructure is being replaced with green infrastructure. This includes building designs that incorporate plants, while stormwater pipes can be replaced with greenspaces and trees to manage run off. These approaches have the benefits of improving wellbeing, while saving governments millions of dollars in concrete and steel.
There is a new language emerging around greenlife that is gaining momentum. This is backed up by economic data and medical research that supports the case for investment in green life to benefit people and communities. Greenlife is moving from a luxury to a necessity.
To support this Charlie highlighted the rise of "green collar' jobs and the education and career development that goes with this.
Economic data shows that there is a payback for investment in sustainability as customers are willing to pay between $0.15 and $0.50 extra for plants products that are low carbon, bioplastics and low water. Proving the sustainability credentials is complex but is worth it.
The call to action is for greenlife industries to come together and advocate. This includes plant producers, the landscape sector, community organisations and government agencies.