Market Size And Forecast: ESG Assurance Services 2022-2028 (Global)

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Executive Summary

This report helps service providers and corporates better understand the current and future state of the ESG assurance services market. Verdantix defines ESG assurance services as “independent assessments, based on professional standards and guidelines, of the accuracy and reliability of ESG data and reporting processes”. The Verdantix market size and forecast model incorporates analysis of different market drivers, disclosed and estimated revenues from service providers, and supporting data from the Verdantix 2022 ESG and sustainability global corporate survey, to forecast market growth by region and industry to 2028. The market in 2022 was worth $1.54 billion and is forecast to grow to over $5.89 billion by 2028, at a CAGR of 27%.

Table of contents

The ESG assurance services market will more than triple by 2028
Market size data reflect the revenues of service providers and current trends
The ESG assurance services market was worth $1.54 billion in 2022
Mandatory ESG assurance requirements accelerate spend
Increasing stakeholder pressure to demonstrate transparency supports market growth
The ESG assurance services market will reach $5.89 billion in 2028

Table of figures

Figure 1. Types of ESG assurance services
Figure 2. Verdantix market size and forecast methodology
Figure 3. Sustainability executives’ funding priorities over the next two years
Figure 4. Regional breakdown
Figure 5. 2022 ESG assurance services spend by region
Figure 6. Industry breakdown
Figure 7. 2022 ESG assurance services spend by industry
Figure 8. ESG assurance services forecast by region 2022-2028
Figure 9. ESG assurance services forecast by industry 2022-2028

About the authors

Lily Turnbull

Industry Analyst
Lily is an Industry Analyst in the Verdantix ESG & Sustainability practice. Her current research agenda focusses on supply chain sustainability and integrating ESG into financial disclosures.  Prior to joining Verdantix, Lily worked on various social impact projects before joining a tech company focussed on ESG risk management. Lily holds an MSc in Women, Peace & Security from the London School of Economics and Political Science and a BA in Theology & Religion from the University of Bristol.

Kim Knickle

Research Director, ESG & Sustainability

Kim leads the Verdantix ESG & Sustainability practice, addressing business challenges and priorities in ESG and sustainability through technology and services. Her current research agenda focuses on ESG regulatory and market drivers, sustainability reporting, risk management, supply chain sustainability, circular economy, social impact.  Knickle has worked for more than 20 years in the IT industry, providing research and analysis to help companies invest wisely in new technologies. Before joining the analyst industry, she held various roles in IT services, engineering, and product safety testing, beginning her career at Underwriters Laboratories, Inc.  Knickle holds a MBA from Boston University and a BS in electrical engineering from Cornell.

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