Verdantix Evaluated 17 Global ESG And Sustainability Consulting Providers: This Is What We Learned

Verdantix Evaluated 17 Global ESG And Sustainability Consulting Providers: This Is What We Learned

In January 2024, Verdantix published the Green Quadrant: ESG And Sustainability Consulting 2024 report, in which we evaluate the capabilities of 17 providers, including BCG, ERM, EY and PwC. 

As part of this study, we interviewed 36 corporate decision-makers to gain insights into their experiences. While participants span diverse regions and industries, we found three common themes on organizations’ usage, prioritization and advice to fellow decision-makers regarding ESG and sustainability consulting providers:

• ESG and sustainability consultants enable sustainability transitions. 
  Engagement with sustainability consultants depends on organizations’ ESG maturity. ESG and sustainability consulting providers help firms start their sustainability journeys, which often involves auditing and reporting-focused projects. Organizations with higher maturity engage with sustainability consultants to transform their business strategy and operations. Hence, ESG and sustainability consultants play a crucial role in the transition towards a green economy, offering their talent pool and partnership with leading software providers to address firms’ most pressing sustainability challenges.

• Organizations demand expertise and adaptability to create custom solutions.
  Firms usually face a wide scope of ESG challenges that differ based on sector, jurisdiction, customer base and risk exposure. Hence, organizations demand demonstrable industry experience in ESG issues and the ability to create customized approaches to align sustainability solutions with the firm’s needs. On this point, consultants’ ability to attract and retain talent is crucial, as decision-makers raise concerns about the limited talent pool of sustainability and climate experts in consulting teams.

• Firms seek competent, reliable and trustworthy partners. 
  Sustainability actions are often the target of deep scrutiny, and decision-makers seek partners that strengthen the credibility of their ESG goals. Hence, firms require consultants to adopt a collaborative approach, being honest about the challenges and limitations encountered throughout the project. Additionally, respondents advise other organizations to consider consultants’ internal ESG performance, as proof of their sustainability commitment and reliability as trusted partners with a shared business purpose.

With the market for ESG and sustainability consulting expected to reach over $48 million by 2028, firms must identify which consulting providers align with their approach to ESG and sustainability. Likewise, ESG and sustainability consultants must continue investing resources to differentiate their services in the market and ensure alignment with their customers’ demands.

To access the fact-based benchmark of 17 of the most prominent ESG and sustainability consulting providers in the market, see Verdantix Green Quadrant: ESG And Sustainability Consulting 2024. To learn more about customer insights, primary needs and preferences see Verdantix Strategic Focus: Customer Insights Into ESG & Sustainability Consulting Services.