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The phrase "are wasteful" is correct and usable in written English.
You can use it to describe actions, behaviors, or practices that result in unnecessary use of resources or inefficiency.
Example: "Many companies are wasteful in their energy consumption, leading to higher costs and environmental impact."
Alternatives: "are inefficient" or "are extravagant".
Dictionary
are wasteful
adjective
Inclined to waste or squander money or resources.
synonyms
Exact(59)
People are wasteful, wasted, wasting away".
I was brought up in the postwar generation so I'm good at not wasting things, and appalled by people who are wasteful.
The insured are wasteful.
Private cars are wasteful and expensive.
First, they disagree with Republicans on which programs are wasteful.
Often you are wasteful, and sometimes you are bullying.
Other aspects of our consumption are wasteful, too.
Its subsidies for renewable energy are wasteful and its nuclear pull-out looks panicky.
The failed stimulus is replete with examples of the president's earmarks that are wasteful".
New York's narcotics laws are wasteful, unjust, ineffective and marked by racial bias.
The Rockefeller laws are wasteful, unjust, ineffective and marked by racial bias.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com