Global ESG & Sustainability Consulting Services Market is expected to reach USD 30760.8 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global ESG & Sustainability Consulting Services Market by Service Type, by Industry Vertical, by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 7889.1 Million in 2022 and is expected to grow at a moderate growth rate of 16.5% by the year 2031.

As per Growth Market Reports industry analyst Shreyas Trigune, “Global ESG & Sustainability Consulting Services Market is anticipated to witness significant growth during the forecast period 2022-2030. ESG (Environmental, Social, and Governance) and sustainability consulting services are crucial in assisting organizations to integrate responsible and sustainable practices into their operations. ESG refers to a set of criteria and parameters used to evaluate a company's performance in terms of environmental impact, social responsibility, and corporate governance. Conversely, sustainability focuses on achieving present needs without compromising the ability of future generations to meet their own needs. ESG and sustainability consulting services help businesses navigate these complex areas and develop strategies that align with sustainable practices.

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Sustainability consulting services have a wider focus and enclose a wider range of issues than ESG. Sustainability consultants help organizations integrate sustainable practices into their business strategies and operations. This involves conducting sustainability assessments, identifying opportunities for resource optimization, developing renewable energy strategies, implementing circular economy principles, and enhancing supply chain sustainability. Consultants also assist with stakeholder engagement, reporting, and communication to effectively convey sustainability efforts to customers, investors, and a wide public.

Supply chain management is a pivotal part of any business. A supply chain involves a series of steps to get ESG & sustainability consulting services, products, sizes, and distribution from their primary state to customers. These steps include development, engagement with customers, and delivering and supporting the ESG & Sustainability Consulting Services. Entities in the supply chain include raw material suppliers, manufacturers, logistics, warehouses, finance, distributors, and customers.

The primary, as well as secondary research methodology, is used for keen observation and study of the ESG & sustainability consulting services market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, global interdependence, and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. Companies investing in political, business, and financial stability, as opposed to decreasing global risks, implemented strategies to overcome the pandemic. In current scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. COVID-19 hampered R&D activities in the ESG & Sustainability consulting services market, due to social distancing and less access to manufacturing plants, which hampered the manufacturing industry. A majority of research activities were halted, due to social distancing regulations during the pandemic. As COVID-19 spread in the regions, various governments shut down public gatherings, travel, and major projects to protect people from the virus.

Key Takeaways from the Study:

• In terms of service type, the strategy and design segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

• Based on industry vertical, the energy & resources segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

Report Scope:

Target Audience:

• Supply-side: Manufacturers, Raw Material Suppliers, and Distributors

• Demand Side: Government Agencies, Consulting Firms, Private Research and Development Firms, Equity Firms, and Investment Firms.