The Net Zero Consulting Services Market Will Exceed $15 Billion By 2028

The Net Zero Consulting Services Market Will Exceed $15 Billion By 2028

Verdantix research finds that the global market spend on net zero consulting services reached $3.5 billion in 2022, and will grow at a CAGR of 29% to exceed $15 billion by 2028. Verdantix reveals that the key drivers of this increasing spend are:

• New climate-related disclosures. By the end of 2026, the CSRD will impact a total of 49,000 firms in the EU alone. Due to the stricter regulatory landscape worldwide, organizations will face data transparency and quality issues, which will in turn drive investment in third-party support. As a result, Verdantix predicts significant increases in spend on carbon accounting and data disclosure services. To support clients with carbon data collection and analysis, consulting firms are partnering with carbon management software providers (e.g. Bain & Company and Persefoni, and Accenture and Salesforce’s Net Zero Cloud), acquiring them (e.g. Accenture and Carbon Intelligence), or developing the capabilities in-house, as is the case for CO2 AI by BCG.
• Stakeholder pressure. Realistic and data-driven net zero targets demonstrate firms’ decarbonization commitments to investors and customers, and consequently increase spend on net zero and climate change strategy support. Once science-based targets are set, organizations will face increased pressure to decarbonize their operations and meet their goals. In the next three years, Verdantix foresees an acceleration in spend for net zero programme management services: as firms’ decarbonization targets approach, they will need guidance on how to implement their strategies.
• Industry-specific challenges. Standards such as the International Sustainability Standards Board (ISSB) are starting to incorporate industry-specific requirements. Net zero consulting service providers are well placed to support corporates and financial institutions with these challenges, coming from a variety of backgrounds, such as accounting, management consulting and sustainability specialists. Beyond reporting requirements, industry-specific expertise involves supply chain decarbonization support for Scope 3-heavy industries (such as wholesale and retail trade) and financed emissions calculation and reduction for financial institutions.

To learn more about the growth drivers of the net zero consulting services market, spend segmentation by industry, region and service line, and which of these will grow fastest through to 2028, read the latest Verdantix Net Zero Consulting Services Market Size & Forecast report and register for our related webinar.