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Technology & Data

Disclosure Rules Create Climate Consulting Boon

Research and advisory firm Verdantix has forecast climate disclosure rules will push consulting and software industries to US$36 billion by 2028. Verdantix projected the climate risk software market will reach US$1.3 billion by 2028, while climate change consulting could grow by as much as US$34.8 billion. North America is expected to be the highest spending region on net zero consulting and climate risk software this year. Verdantix acknowledged this was partly being driven by the new US Securities and Exchange Commission rules requiring listed companies to disclose climate change risks to investors. “Corporate demand for climate expertise currently exceeds the available supply of skills so companies are increasingly turning to software providers and external consultants to help them understand their risk exposures” said Ryan Skinner, Research Director, Net Zero and Climate Risk at Verdantix. “A perfect storm of mandated climate disclosure rules and shareholder revolts, particularly within the financial services sector, is also spurring demand for support from consultants and software firms to ensure compliance and strategic readiness.”

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