According to Marketresearch.biz, the financial services sector presents significant growth opportunities driven by the imperative to integrate climate considerations. Climate change consulting is thriving as consultants offer expertise in assessing climate-related financial risks, advising on green financing projects, and developing sustainable investment portfolios.
New York, Jan. 23, 2024 (GLOBE NEWSWIRE) — The climate change consulting market was valued at USD 2.8 billion in 2023. It is expected to reach USD 7.7 billion by 2033, with a CAGR of 7.7% during the forecast period from 2024 to 2033.
The climate change consulting market is undergoing rapid growth, compelled by the growing demand for global sustainability standards and advancements in technology. Key factors pushing this expansion comprise a significant transformation in the climate regulatory landscape, heightened stakeholder interest, and rising awareness of climate change risks to businesses. Organizations are constrained to improve climate change transition tactics, demanding internal investment in management, governance, and implementation techniques while also showcasing performance to external markets.
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The Federal Inflation Reduction Act, declared in August 2022, represents a significant global investment policy for climate change, directing over USD 394 billion towards energy shift and incentivizing private funding through tax credits, loan guarantees, and grants. Climate change consulting providers are developing their services to meet diverse demands, providing expertise in areas such as emission reporting. Major global consulting firms, like EY, are establishing cross-functional teams and cooperating with technology giants to assimilate sustainability specialists and financial reporting professionals, augmenting their service offerings.