Sept. 28, 2007 Consumers say they expect to double their spending on green products and services in the next year, totaling a staggering $500 billion annually, or $43 billion per month. These are the findings from the 2007 ImagePower Green Brands 2.5 Survey, released today at SLM's Sustainable Brands '07 conference in New Orleans.

The new survey is an update of Green Brands 2.0 (PDF), released in May. Read our exclusive interview with Annie Longsworth of Cohn & Wolfe, one of the firms that, along with Landor Associates and Penn, Schoen and Berland Associates, conducted both studies.

Consumer perceptions of green continue to change according to various collective definitions and contribute directly to buying decisions. Consumers had previously indicated a close association of the color green with environmentally-friendly products. As products and awareness have increased in sophistication, perceptions have steadily shifted to equating green to saving money and caring for self and society, according to the survey. Consumers now perceive green as a direct and positive reflection of their social status, in addition to recognizing its broader value to society and the world, the new findings suggest.

"This wave of research very clearly indicates an uptick in purchase intent for most consumers when it comes to green products and services, particularly those that are relatively simple to implement such as installing environmentally friendly lighting and upgrading to energy-saving appliances," said Tom Agan, managing director of Penn, Schoen and Berland Associates which, along with Landor Associates and Cohn & Wolfe, conducted the study.

The research also indicated that despite bipartisan sentiments on politics and religion, 90% of Americans agree that there are important green issues and problems, and 82% believe it is important for companies to implement environmentally friendly practices.

Read the latest updates from the conference on our Sustainable Brands blog!