Many people are no longer willing to pay extra for food to help the environment.
People are becoming increasingly unwilling to pay a premium for green or eco-friendly products, Cahoot said today.
According to the bank, 23 percent of consumers feel that the UK's currently slowing economy is making them "less likely" to think of the environment while doing their weekly food shop. This suggests that sales of organic and GM-free produce will suffer over the months to come.
Moreover, Cahoot also found that the amount customers were willing to pay as a "green premium" for this weekly shop has halved since March, dropping from £5 for every £50 spent to £2.45.
Matthew Timms, managing director of Cahoot, commented: "We're more environmentally aware than ever before but with the cost of living skyrocketing, it's becoming more and more difficult to tempt us into parting with cash for greener foods - which are often significantly more expensive.
He added: "There are simple steps that people can take to go green without spending a fortune, such as recycling or switching to paperless bank statements. These small changes will cost you nothing and help to protect the environment without denting your bank balance."
Further findings from cahoot's new poll show that 44 percent of Britons are now unwilling to consider the environment at all during their weekly shop - and that just 31 percent are paying a "green premium" of £5 and over.
