Summary

The India ESG and sustainability consulting market is expected to grow at a strong CAGR of around 7.5% during the forecast period owing to the rising awareness in the companies. Many Indian companies have recognized the importance of sustainability and have started implementing sustainability initiatives. This has created a demand for ESG and sustainability consulting services to help them understand the impact of their operations and develop strategies to minimize their environmental and social footprint. For instance, in 2021, Hero Future Energies announced a strategic alliance with Swiss Re to develop and operate solar and wind power projects in India. The partnership aims to support the growth of renewable energy in India and help Swiss Re achieve its sustainability goals.

Some of the major players operating in the market include McKinsey, Deloitte, Boston Consulting Group, EY, KMPG, Bain & Company, LEK Consulting, pWc, Mercer, and DSS+. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst service type, the materiality assessment segment held a significant share of the market in 2021”
Based on service type, the market is segmented into climate risk, adaptation, and resilience; sustainable finance and investing; materiality assessments; supply chain management and procurement; policy development and research; and other services. The materiality assessment segment held a significant share of the market in 2021. The Materiality Assessment is the process of identifying and prioritizing the most ESG issues that impact a company's financial performance, reputation, and stakeholder interests. Materiality assessments have become an essential tool for companies looking to improve their ESG performance and reporting. These assessments help companies identify ESG issues that are most relevant to their business operations, stakeholders, and value chain, and prioritize their efforts to address them. Moreover, rising investment by companies is also driving the segment growth. For instance, in February 2021, Indian ESG data and analytics firm ESGBox announced a new partnership with sustainability consulting firm ERM. The partnership will focus on providing materiality assessments and other sustainability consulting services to businesses in India and across the Asia-Pacific region.

“Amongst product type, the software category to grow with high CAGR during the forecast period”
By product type, the market is bifurcated into software and service. The software category is expected to grow with significant CAGR during the forecast period mainly due to the rapid product launches and their higher adoption among the companies. For instance, in July 2022, Tata Consultancy Services launched its ESG Integration Solution on the Amazon Web Services (AWS) platform to help financial institutions more easily and accurately measure the impact of environmental, social, and governance (ESG) factors in their investment analysis.

“Amongst industry sector, the IT segment to grow with high CAGR during the forecast period”
Based on industry sector, the market is segmented into energy and resources, financial services, healthcare, manufacturing, pharma & biotechnology, retail, and other industrial sectors. The IT segment is expected tyo grow with highest CAGR during the forecast period. The IT industry in India is one of the largest and fastest-growing in the world and has a significant impact on the environment and society. As a result, there is a growing demand for ESG and sustainability consulting services in this sector. The focus of ESG and sustainability consulting in the IT sector includes a wide range of issues such as carbon emissions reduction, energy and water conservation, responsible e-waste management, sustainable supply chain management, data privacy and security, and social and ethical issues related to labor. One recent investment in the ESG and sustainability consulting market in India's IT sector is the collaboration between Infosys and Mongolian firm Clean Energy Asia LLC (CEA). Infosys, a leading IT consulting firm in India, has announced that it will invest USD 3 million in CEA, which specializes in renewable energy and clean technology.

ESG and Sustainability Consulting Market Report Coverage
Base year
・2021
Forecast period
・2022-2030
Growth momentum
・Accelerate at a CAGR of 7.5%
Market size 2021
・USD 255 million
Regional analysis
・India
Companies profiled
・McKinsey, Deloitte, Boston Consulting Group, EY, KMPG, Bain & Company, LEK Consulting, pWc, Mercer, and DSS+.
Report Scope
・Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling
Segments Covered
・By Product Type; By Service Type; By Industry Sector

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The India ESG and sustainability consulting market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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