Strategic Focus: Climate Risk and Net Zero Emissions Services

Published 7 December 2022 by Nathan Goldstein & Bill Pennington &
Air Emissions Carbon Emissions Reporting Climate Change Consulting Climate Change Strategy Climate Risk Digital Tech Complimentary Corporate Governance Disclosure Rules, Regulations & Frameworks Energy Efficiency Solutions Energy Engineering Energy Transition Environment, Health & Safety Environmental Impact Environmental Regulations ESG & Sustainability ESG & Sustainability Services ESG Consulting ESG Performance Improvement ESG Reporting Software ESG Risk GHG Emissions GHG Emissions Monitoring Net Zero Net Zero & Climate Risk Net Zero Targets Renewable Energy Sourcing Sustainability Goals Sustainability Reporting Transition Risk Strategic Focus

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Executive Summary

As EHS teams acquire increased ownership of and influence over ESG and sustainability-related strategies, they are finding that this extends to climate risk and net zero emissions strategies as well. Given the complexity of these topics – and with understanding of them in a state of relative infancy – EHS teams are engaging with service providers to assist in the execution of their duties. When examining climate risk and net zero emissions engagement and requirements, current prominent themes encompass strategic plan priority ranking; changes in budget allocation amounts and dedication; and industry progression with regard to risk awareness and mitigation actions. 

This report will assist EHS-related C-Suite directors, managers and consultants in understanding market trends and dynamics, identifying significant shifts in market sentiment and preparing for future engagements. The following insights have been derived from respondents’ answers to the latest Verdantix global services survey (see Verdantix Global Corporate Survey 2022: EHS Services Budgets, Priorities and Tech Preferences), which will be published in December 2022.

 

Table of contents

Climate Risk And Net Zero Emissions Complexity Is Reflected In Growing Focus On Service-Firm Relationships 
Demand Commands Increased, But Reserved Budgets 
 

Table of figures

Figure 1. Level Of Importance Of Service Support  
Figure 2. Vendor Differentiators
Figure 3. 12-Month EHS Consulting Budget Projections
Figure 4. Service-Level Engagement By Risk Segmentation
 

Organisations mentioned

Accenture, Deloitte, ERM, EY, PwC, US Securities and Exchange Commission (SEC), WSP

About the authors

Nathan Goldstein

Senior Analyst
Nathan is a Senior Analyst in the Verdantix EHSQ practice out of the New York office. His current research agenda focuses on the intersection of sustainability and ESG trends within the EHSQ operational sphere. Prior to joining Verdantix, Nathan worked at Bluefield Research, where he covered the global water industry, with a focus on the energy, industrial and digital segments. Nathan holds a MSc in Water: Science and Governance from King’s College London.

Bill Pennington

VP Research, EHS & Risk Management
Bill is the VP Research for the Verdantix EHS & Risk Management practices. His current agenda focuses on understanding the evolution of EHS and enterprise risk management, evaluating emerging strategic risks and benchmarking technology buyers’ budgets, priorities and preferences globally.

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