Market Size And Forecast: Climate Risk Consulting 2022-2028 (Global)
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Executive Summary
This report presents the Verdantix market size and forecast for climate risk consulting services. It provides an overview of the market, including regional and industry breakdowns, for service providers and investors, and identifies the main trends and drivers that will shape the market to 2028. The Verdantix model incorporates analysis of macroeconomic drivers, disclosed and estimated revenue data from consulting providers, and insights from survey data and interviews. The climate risk consulting market consists of solutions across four segments: climate risk strategy and governance; climate mitigation and adaptation; climate risk quantification and scenario analysis; and climate risk, opportunity and adaptation disclosure management. Verdantix calculates a market value of $2.0 billion based on data from the latest full financial year available (2022) and forecasts the market to grow at a CAGR of 29%, reaching $9.1 billion by 2028.
Table of contents
Regulatory pressure and cost of climate events drive spending on consulting services over the next five yearsMarket size data reflect the revenues of climate risk consulting services across four service lines
The climate risk consulting services market was worth $2.0 billion in 2022
Climate-related regulations and shortage of climate talent accelerate demand for risk consulting services
Impacts of physical and transition climate risks reinforce each other and prompt more corporate attention
The climate risk consulting services market will be worth more than $9.1 billion in 2028
Table of figures
Figure 1. Climate risk consulting service lines and definitionsFigure 2. Verdantix market size and forecast methodology
Figure 3. Regional breakdown
Figure 4. Relationship of climate risk consulting to climate change consulting
Figure 5. Scope of the climate risk consulting market
Figure 6. 2022 climate risk consulting services spend by region ($ millions)
Figure 7. Industry breakdown
Figure 8. 2022 climate risk consulting services spend by industry ($ millions)
Figure 9. 2022 climate risk consulting services spend by service line ($ millions)
Figure 10. Firms' plans for supporting in-house projects along the climate risk service lines
Figure 11. Expected change in spend on consulting services in 2024 compared with 2023
Figure 12. Climate risk consulting forecast by region 2022-2028
Figure 13. Climate risk consulting forecast by industry 2022-2028
Figure 14. Climate risk consulting forecast by service line 2022-2028
Organisations mentioned
Brazil Ministry of Finance, Carbon Tracker Initiative, Central Bank of Brazil, China Ministry of Ecology and Environment, Intergovernmental Panel on Climate Change (IPCC), International Financial Reporting Standards (IFRS), International Monetary Fund (IMF), Maplecroft, Mexico National Banking and Securities Commission (CNBV), Morningstar, Nature Communications, Securities and Exchange Commission of Brazil (CVM), Task Force on Climate-related Financial Disclosures (TCFD), Taskforce on Nature-related Financial Disclosures (TNFD), United Nations Environment Programme - Finance Initiative (UNEP-FI), United Nations Environment Programme (UNEP), US Securities and Exchange Commission (SEC), World Economic Forum, World Meteorological Organization (WMO)About the authors
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