Sustainability Consulting Market by Service Type (Strategic Planning, Auditing Testing & Verification, Technical Support, Marketing, and Others), Application (Corporate Sustainability, Climate Resilience & Decarbonization, Equity & Social Inclusion, Society & Policies, Circular Economy, Finance, and Others), End-user (BFSI, Healthcare, Manufacturing & Processing, Mining, Oil & Gas, Agriculture, Chemical, Energy & Utilities, And Others), and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2031
Sustainability Consulting Market Outlook 2031
The global sustainability consulting market size was valued at USD 7361.2 Million in 2022 and is projected to reach USD 29026.9 Million by 2031, expanding at a CAGR of 16.6% during the forecast period, 2023-2031.
Sustainability consulting services are crucial in assisting organizations to integrate responsible and sustainable practices into their operations. Sustainability consulting services refer to a set of criteria and parameters used to evaluate the performance of a company in terms of environmental impact.
Sustainability focuses on achieving present needs without compromising the ability to meet the needs of future generations. Sustainability consulting services help businesses navigate these complex areas and develop strategies that align with sustainable practices.
Sustainability consulting is a sector in which consultants collaborate with organizations to develop policies and practices that support long-term viability. These experts have commercial experience and an understanding of the environment and sustainability. Their job encompasses a wide range of duties and tactics used to assist businesses in reducing their environmental footprints.
Sustainability consultants assess existing processes and their effect to assist in creating solutions that allow the business to survive and grow in a possible environmentally friendly way. This includes boosting decarbonization activities in multiple industries, developing innovative green companies, and investing significant investments. Sustainability consultants play an important role in assisting firms toward sustainable operations.
Sustainability consulting services have a wider focus and enclose a wider range of issues than ESG. Sustainability consultants help organizations to 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 further assist in stakeholder engagement, reporting, and communication to effectively convey sustainability efforts to customers, investors, and the public. These consulting services provide several benefits to organizations by helping companies align with regulatory requirements and stay ahead of emerging ESG and sustainability standards. This allows organizations to enhance their reputation, attract socially responsible investors, and access new markets by improving their ESG performance.
Sustainability initiatives often lead to cost savings through improved resource efficiency and reduced waste. Additionally, consulting services enable organizations to improved manage risks associated with environmental and social impacts, such as climate change, social inequalities, and reputational risks.
Sustainability Consulting Market Macro-Economic Factors
Economic Growth
Businesses have more resources to invest in sustainability initiatives, due to economic growth. This leads to increased demand for sustainability consulting services, as businesses seeking for ways to reduce their environmental impact, improve social and ethical performance, and attract and retain their customers.
Furthermore, employees are increasingly concerned about sustainability issues. The construction industry is booming with economic growth, leading to an increased demand for sustainability consultants to ensure that building projects adhere to green building standards. Additionally, the surge in economic growth drives the inclination toward renewable energy projects, which influences the demand for sustainability consulting services.
Regulatory Framework
Government regulations and policies play a crucial role in shaping the sustainability landscape. Regulations related to carbon emissions, renewable energy, and waste management have a direct impact on businesses and sustainability practices.
Governments across the globe are increasingly implementing policies and regulations to promote sustainability and address environmental and social challenges. These regulations aim to encourage businesses and organizations to adopt sustainable practices and consider ESG factors in their operations.
For instance, several countries have implemented carbon pricing mechanisms, such as carbon taxes or cap and trade systems. These policies put a price on carbon emissions, encouraging businesses or organizations to reduce their greenhouse gas emissions and transition to low-carbon technologies.
Inflation
High inflation often erodes the purchasing power of businesses, making it difficult for businesses to afford sustainability consulting services. For instance, in August 2022, the inflation rate in the UK reached 9.9%, which is the uppermost level in the last 40 years. This put an enormous strain on the budgets of many businesses and adversely affected the sustainable consulting market.
Sustainability Consulting Market Dynamics
Market Drivers
Growing Awareness Of Sustainability among Consumers and Investors
Growing emphasis on environmental and social responsibility has led customers to make conscious choices in recent years, favoring eco-friendly products and companies with sustainable practices.
Investors have recognized the financial benefits of sustainability, as companies with good environmental, social, and governance (ESG) performance tend to make robust and attractive investments. They are increasingly taking sustainability into account when making investment decisions as well as encouraging businesses to enhance their sustainability performance.
Demand for environmentally friendly products and services is increasing. Businesses are investing in sustainability initiatives in response to this need. Sustainability consulting services help businesses to develop and implement these initiatives, which, in turn, boosts the market.
Environmental Regulations
Governments around the world place high emphasis on environmental protection, hence, they implement tough rules and regulations aimed at lowering carbon emissions, conserving resources, and minimizing environmental damage. For instance, in 2009, the United States Environmental Protection Agency (EPA) issued the Mandatory Reporting of Greenhouse Gases rule, which required businesses to report their greenhouse gas emissions.
Furthermore, in 2020, the European Union introduced the Sustainable Finance Discloser Regulation (SFDR), which requires financial institutions to declare the environmental sustainability of their assets. These regulations compel businesses to adopt sustainable practices to comply with the law, avoid fines, and safeguard their reputations. This factor is boosting the demand for sustainable consulting.
Existing Restraints
Sustainability consulting is expensive for some businesses, especially for small and medium enterprises (SMEs) or those operating in low-margin. Sustainability consulting projects are complex and require high level of expertise.
Moreover, these projects involve multiple stakeholders. It limits accessibility, particularly for small businesses and organization with limited budgets. Many sustainability consultants charge premium rates for their expertise, making it difficult for small players in the market to approach them.
For instance, the hourly rate of certified sustainability consultants ranges from $50 to $200, depending on the experience level and the complexity of the project. This means that hiring a sustainability consultant for a long-term or large-scale project is expensive and not feasible for some clients. Thus, the high cost leads some organizations to seek alternatives.
Emerging Opportunities
Sustainability has become a important concern for governments and businesses worldwide, as they struggle to address the environmental, social, and governance issues. Investors, employees, consumers, and other stakeholders are placing pressure on companies in emerging markets to turn green. However, companies in developed countries typically underperform in influential ESG rankings by various agencies, particularly in terms of environmental sustainability.
Companies with an excellent reputation in emerging countries for solving ESG concerns are rewarded with major growth opportunities, such as high levels of client satisfaction and access to markets, investment funds, and highly desirable talent. They have several opportunities to change industry dynamics by developing innovative, climate-driven business models.
Companies who fail to close the sustainability gap with their competitors find themselves at a considerable disadvantage in both home and international markets. The sustainability movement, which began in wealthy economies decades ago, is now creating damage on enterprises in emerging markets.
Financial organizations are increasingly using ESG ratings when making investment and lending options. In emerging markets, government regulations are becoming strict in terms of sustainability and environmental standards. Companies need to stick to these standards in order to operate and succeed, making sustainability consulting services important in navigating the complications of ESG compliance.
Scope of Sustainability Consulting Market Report
The report on the global Sustainability Consulting Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Sustainability Consulting Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016-2021 |
Forecast Period |
2023–2031 |
Segmentation |
by Service Type (Strategic Planning, Auditing Testing & Verification, Technical Support, Marketing, and Others), Application (Corporate Sustainability, Climate Resilience & Decarbonization, Equity & Social Inclusion, Society & Policies, Circular Economy, Finance, and Others), End-user (BFSI, Healthcare, Manufacturing & Processing, Mining, Oil & Gas, Agriculture, Chemical, Energy & Utilities, And Others) |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, KPMG International Limited, PwC, Accenture, McKinsey & Company, Boston Consulting Group, SGS Société Générale de Surveillance SA., TATA Consultancy Services Limited, Bain & Company, Inc., WSP, Ramboll, Roland Berger gmbh, L.E.K. Consulting, Sphera |
Sustainability Consulting Market Segmental Outlook
The global Sustainability Consulting Market is segmented on the basis of service type, application, end-user, and region.
Service Type Segment Analysis
In terms of Service Type, the Sustainability Consulting Market is segmented into strategic planning, auditing testing & verification, technical support, marketing, and others. The auditing testing & verification segment is expected to dominate the market in 2022, owing to the increasing environmental awareness, strict government regulations, new service models, technological advancements, and others.
Application Segment Analysis
On the basis of Application, the Sustainability Consulting market is segmented into corporate sustainability, climate resilience & decarbonization, equity & social inclusion, society & policies, circular economy, finance, and others.
The corporate sustainability segment is expected to hold a substantial share of the market, owing to factors such as increasing awareness about environmental issues, need for sustainable growth, rising number of investors, high consumer demand for sustainable business practices, and others.
End-user Segment Analysis
Based on end-user, the Sustainability Consulting market is segmented into BFSI, healthcare, manufacturing & processing, mining, oil & gas, agriculture, chemical, energy & utilities, and others.
The manufacturing & processing segment is expected to hold a substantial share of the market, as industries are integrating eco-friendly practices to enhance their competitiveness and reputation. Companies are leveraging sustainability consulting to innovate processes, as consumers are demanding eco-conscious products.
Regional Outlook
Based on regions, the Sustainability Consulting Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is growing at a rapid pace during the forecast period, owing to the government initiatives and regulations promoting sustainable practices, particularly in countries such as China and Japan.
Key Benefits for Industry Participants & Stakeholder
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In-depth Analysis of the global Sustainability Consulting Market
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Historical, Current, and Projected Market Size in terms of Value and Volume
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints, and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
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Neutral Perspective on Global Sustainability Consulting Market
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sustainability Consulting Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Sustainability Consulting Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Sustainability Consulting Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Sustainability Consulting Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Sustainability Consulting Market Size & Forecast, 2016-2031
4.5.1 Sustainability Consulting Market Size and Y-o-Y Growth
4.5.2 Sustainability Consulting Market Absolute $ Opportunity
4.6 Global Sustainability Consulting Market: Current & Future Trends
4.7 Overview on Green Business Building
4.8 Investment Scenario on ESG & Sustainability Services, By Region
4.9 Roadmap to Net-Zero Carbon, to 2030 and 2050
4.10 Overview on Carbon Credit Assessment
Chapter 5 Global Sustainability Consulting Market Analysis and Forecast By Service Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Service Type
5.1.2 Basis Point Share (BPS) Analysis By Service Type
5.1.3 Absolute $ Opportunity Assessment By Service Type
5.2 Sustainability Consulting Market Size Forecast By Service Type
5.2.1 Strategic Planning
5.2.2 Auditing Testing & Verification
5.2.3 Technical Support
5.2.4 Marketing
5.2.5 Others
5.3 Market Attractiveness Analysis By Service Type
Chapter 6 Global Sustainability Consulting Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Sustainability Consulting Market Size Forecast By Application
6.2.1 Corporate Sustainability
6.2.2 Climate Resilience & Decarbonization
6.2.3 Equity & Social Inclusion
6.2.4 Society & Policies
6.2.5 Circular Economy
6.2.6 Finance
6.2.7 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Sustainability Consulting Market Analysis and Forecast By End-user
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By End-user
7.1.2 Basis Point Share (BPS) Analysis By End-user
7.1.3 Absolute $ Opportunity Assessment By End-user
7.2 Sustainability Consulting Market Size Forecast By End-user
7.2.1 BFSI
7.2.2 Healthcare
7.2.3 Manufacturing & Processing
7.2.4 Mining
7.2.5 Oil & Gas
7.2.6 Agriculture
7.2.7 Chemical
7.2.8 Energy & Utilities
7.2.9 Others
7.3 Market Attractiveness Analysis By End-user
Chapter 8 Global Sustainability Consulting Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 Sustainability Consulting Market Size Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Sustainability Consulting Analysis and Forecast
10.1 Introduction
10.2 North America Sustainability Consulting Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Sustainability Consulting Market Size Forecast By Service Type
10.6.1 Strategic Planning
10.6.2 Auditing Testing & Verification
10.6.3 Technical Support
10.6.4 Marketing
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis By Service Type
10.8 Absolute $ Opportunity Assessment By Service Type
10.9 Market Attractiveness Analysis By Service Type
10.10 North America Sustainability Consulting Market Size Forecast By Application
10.10.1 Corporate Sustainability
10.10.2 Climate Resilience & Decarbonization
10.10.3 Equity & Social Inclusion
10.10.4 Society & Policies
10.10.5 Circular Economy
10.10.6 Finance
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
10.14 North America Sustainability Consulting Market Size Forecast By End-user
10.14.1 BFSI
10.14.2 Healthcare
10.14.3 Manufacturing & Processing
10.14.4 Mining
10.14.5 Oil & Gas
10.14.6 Agriculture
10.14.7 Chemical
10.14.8 Energy & Utilities
10.14.9 Others
10.15 Basis Point Share (BPS) Analysis By End-user
10.16 Absolute $ Opportunity Assessment By End-user
10.17 Market Attractiveness Analysis By End-user
Chapter 11 Europe Sustainability Consulting Analysis and Forecast
11.1 Introduction
11.2 Europe Sustainability Consulting Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Sustainability Consulting Market Size Forecast By Service Type
11.6.1 Strategic Planning
11.6.2 Auditing Testing & Verification
11.6.3 Technical Support
11.6.4 Marketing
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis By Service Type
11.8 Absolute $ Opportunity Assessment By Service Type
11.9 Market Attractiveness Analysis By Service Type
11.10 Europe Sustainability Consulting Market Size Forecast By Application
11.10.1 Corporate Sustainability
11.10.2 Climate Resilience & Decarbonization
11.10.3 Equity & Social Inclusion
11.10.4 Society & Policies
11.10.5 Circular Economy
11.10.6 Finance
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
11.14 Europe Sustainability Consulting Market Size Forecast By End-user
11.14.1 BFSI
11.14.2 Healthcare
11.14.3 Manufacturing & Processing
11.14.4 Mining
11.14.5 Oil & Gas
11.14.6 Agriculture
11.14.7 Chemical
11.14.8 Energy & Utilities
11.14.9 Others
11.15 Basis Point Share (BPS) Analysis By End-user
11.16 Absolute $ Opportunity Assessment By End-user
11.17 Market Attractiveness Analysis By End-user
Chapter 12 Asia Pacific Sustainability Consulting Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Sustainability Consulting Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Sustainability Consulting Market Size Forecast By Service Type
12.6.1 Strategic Planning
12.6.2 Auditing Testing & Verification
12.6.3 Technical Support
12.6.4 Marketing
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis By Service Type
12.8 Absolute $ Opportunity Assessment By Service Type
12.9 Market Attractiveness Analysis By Service Type
12.10 Asia Pacific Sustainability Consulting Market Size Forecast By Application
12.10.1 Corporate Sustainability
12.10.2 Climate Resilience & Decarbonization
12.10.3 Equity & Social Inclusion
12.10.4 Society & Policies
12.10.5 Circular Economy
12.10.6 Finance
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
12.14 Asia Pacific Sustainability Consulting Market Size Forecast By End-user
12.14.1 BFSI
12.14.2 Healthcare
12.14.3 Manufacturing & Processing
12.14.4 Mining
12.14.5 Oil & Gas
12.14.6 Agriculture
12.14.7 Chemical
12.14.8 Energy & Utilities
12.14.9 Others
12.15 Basis Point Share (BPS) Analysis By End-user
12.16 Absolute $ Opportunity Assessment By End-user
12.17 Market Attractiveness Analysis By End-user
Chapter 13 Latin America Sustainability Consulting Analysis and Forecast
13.1 Introduction
13.2 Latin America Sustainability Consulting Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Sustainability Consulting Market Size Forecast By Service Type
13.6.1 Strategic Planning
13.6.2 Auditing Testing & Verification
13.6.3 Technical Support
13.6.4 Marketing
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis By Service Type
13.8 Absolute $ Opportunity Assessment By Service Type
13.9 Market Attractiveness Analysis By Service Type
13.10 Latin America Sustainability Consulting Market Size Forecast By Application
13.10.1 Corporate Sustainability
13.10.2 Climate Resilience & Decarbonization
13.10.3 Equity & Social Inclusion
13.10.4 Society & Policies
13.10.5 Circular Economy
13.10.6 Finance
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
13.14 Latin America Sustainability Consulting Market Size Forecast By End-user
13.14.1 BFSI
13.14.2 Healthcare
13.14.3 Manufacturing & Processing
13.14.4 Mining
13.14.5 Oil & Gas
13.14.6 Agriculture
13.14.7 Chemical
13.14.8 Energy & Utilities
13.14.9 Others
13.15 Basis Point Share (BPS) Analysis By End-user
13.16 Absolute $ Opportunity Assessment By End-user
13.17 Market Attractiveness Analysis By End-user
Chapter 14 Middle East & Africa (MEA) Sustainability Consulting Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Sustainability Consulting Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Sustainability Consulting Market Size Forecast By Service Type
14.6.1 Strategic Planning
14.6.2 Auditing Testing & Verification
14.6.3 Technical Support
14.6.4 Marketing
14.6.5 Others
14.7 Basis Point Share (BPS) Analysis By Service Type
14.8 Absolute $ Opportunity Assessment By Service Type
14.9 Market Attractiveness Analysis By Service Type
14.10 Middle East & Africa (MEA) Sustainability Consulting Market Size Forecast By Application
14.10.1 Corporate Sustainability
14.10.2 Climate Resilience & Decarbonization
14.10.3 Equity & Social Inclusion
14.10.4 Society & Policies
14.10.5 Circular Economy
14.10.6 Finance
14.10.7 Others
14.11 Basis Point Share (BPS) Analysis By Application
14.12 Absolute $ Opportunity Assessment By Application
14.13 Market Attractiveness Analysis By Application
14.14 Middle East & Africa (MEA) Sustainability Consulting Market Size Forecast By End-user
14.14.1 BFSI
14.14.2 Healthcare
14.14.3 Manufacturing & Processing
14.14.4 Mining
14.14.5 Oil & Gas
14.14.6 Agriculture
14.14.7 Chemical
14.14.8 Energy & Utilities
14.14.9 Others
14.15 Basis Point Share (BPS) Analysis By End-user
14.16 Absolute $ Opportunity Assessment By End-user
14.17 Market Attractiveness Analysis By End-user
Chapter 15 Competition Landscape
15.1 Sustainability Consulting Market: Competitive Dashboard
15.2 Global Sustainability Consulting Market: Market Share Analysis, 2022
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 XX