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14.2.2024 10:01:29 CET | Business Wire | Press release
Growing consumer concerns and ambitious government mandates will lead to surging demand for sustainability and ESG solutions in Europe, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2023 ISG Provider Lens™ Sustainability and ESG report for Europe finds the global market for sustainability and ESG solutions and services is on track to expand from approximately €50 billion in 2022, to more than €100 billion by 2030.
“Enterprises are increasingly recognizing the importance of sustainability to gain the trust and loyalty of environmentally conscious consumers,” said Andreas Fahr, ISG partner in Europe. “With the help of service providers, companies are finding ways to increase and transparently communicate their sustainability efforts.”
The rapid escalation of energy costs across Europe has required many organizations to reduce consumption and brought about an opportunity to begin addressing decarbonization efforts, the ISG report says. The reliability and security of energy supplies has come under greater scrutiny, resulting in a fertile market for digital solutions that help manage energy infrastructure and consumption, the report says.
When it comes to defining the role of sustainability in building future economic growth, the European Union has sent a clear message to investors and service providers, the ISG report says. The European Green Deal is a comprehensive program initiated by the European Commission with the overarching aim of making the EU carbon-neutral by 2050. The ISG report notes the program includes more than €1 trillion of planned investment by 2030 in renewable energy, energy efficiency measures and other areas.
By 2026, more than 60 percent of EU companies will be required to begin externally reporting certain sustainability and ESG data in specific formats. Because digital services will be critical to this transformation, portions of this funding will find their way to providers of those services, the ISG report says.
“Europe’s elevated environmental and social awareness makes it home to some of the most ambitious organizations for sustainability,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Many enterprises are going beyond regulatory compliance and seeking to derive sustainability premiums and differentiation for stronger financial results.”
The report also examines how ratings and benchmarking services play a vital role in driving ESG initiatives by providing standardized assessments.
The 2023 ISG Provider Lens™ Sustainability and ESG report for Europe evaluates the capabilities of 106 providers across five quadrants: Strategy and Enablement Services, Technology Solutions and Implementation Services – IT, Technology Solutions and Implementation Services – OT, Data Platforms and Managed Services, and Rating and Benchmarking Services.
The report names Accenture, Cognizant, HCLTech, IBM, Infosys, TCS and Wipro as Leaders in four quadrants each, while Capgemini, Deloitte, LTIMindtree and PwC are named as Leaders in three quadrants each. EcoVadis, Hitachi Digital Services, SAP, Siemens and T-Systems are named as Leaders in two quadrants each, while Bain & Company, BCG, Bloomberg, CDP, CGI, Cority, Deutsche Telekom GK, ERM, ESG Book, EY, FactSet, ISS ESG, Moody’s ESG, MSCI, LSEG Data & Analytics, S&P Global, Schneider Electric, Sustainalytics, T-Systems/Detecon, VelocityEHS, Wolters Kluwer and WSP are named as Leaders in one quadrant each.
In addition, Hitachi Digital Services, Intelex, NTT DATA, RepRisk and Tech Mahindra are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.
Customized versions of the report are available from Computacenter, Deutsche Telekom GK, HCLTech and T-Systems/Detecon.
The 2023 ISG Provider Lens™ Sustainability and ESG report for Europe is available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
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