US enterprise investments in ESG initiatives set to surge: ISG Report
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A recent report by Information Services Group (ISG) has predicted a significant expansion in US enterprise investments in sustainability and other Environmental, Social, and Governance (ESG) initiatives in the coming years.
The 2023 ISG Provider Lens™ Sustainability and ESG report notes that this growth is driven by increasing pressure on companies to measure and enhance their ESG performance. New regulations on data collection and reporting obligations also play a key role in this expansion.
“US companies know they need to improve their sustainability and ESG performance but face increasing complexity at every turn,” said Andy Miears, Director, Adaptive Organization with ISG, in a release. “Providers offer services to help clients navigate every stage of the process.”
The global sustainability and ESG services market is expected to double by 2030, with regulations requiring companies to disclose extensive climate risks and emissions data.
“New regulations will significantly increase the data collection and reporting burden on US companies, driving demand for services to help them comply,” said Jan Erik Aase, Partner and Global Leader, ISG Provider Lens Research. “Many firms today store this data in disparate systems or do not record it at all.”
Also read: Climate-focused fund investments drop by 75% in the US since 2021
The report also highlights emerging trends like using digital twins and AI in sustainability initiatives.
The report evaluated the capabilities of 103 providers across five quadrants:
The report names Accenture, Cognizant, HCLTech, IBM, Infosys, TCS and Wipro as Leaders in four quadrants each.
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