United States/WA: The global Climate Change Consulting market is estimated to account for US$ 8.0 Billion by 2026
Report Pages:[307 Pages]
Global Climate Change Consulting Market Is Currently Driven By Increasing Concerns Regarding Carbon Emissions
The global climate change consulting market is currently driven by increasing concerns regarding carbon emissions. For instance, according to Energy Statistical Yearbook 2019, in 2018, carbon dioxide emissions in the U.S. increased by 3.1% compared to that in 2017.
According to a recent report by Coherent Market Insights, the global climate change consulting market is expected to witness significant growth. Coherent Market Insights predicts that the market is expected to reach US$ 8.0 million by 2026, registering a CAGR of 4.8% over the forecast period (2018-2026). While this forecast period is quite aggressive, it nevertheless remains a reasonable estimate. The global demand will be driven primarily by governments who are considering policy frameworks to address climate change, private companies who are assessing their vulnerability to adverse effects of climate change and companies that are evaluating their current vulnerabilities.
The increasing government regulations and legislation such as the Paris Agreement and the European Union’s efforts to significantly reduce greenhouse gas emissions are other factors that are likely to drive growth of the climate change consulting market. These initiatives come in the form of national level policies, technological innovation, international collaboration and other activities. The Paris Agreement aims to hold the increase in the global average temperature to well below 2 °C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 °C above pre-industrial levels.
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For governments, investing in research and technology to cut greenhouse gas emissions is a necessity, and for developing countries it is a growth opportunity. The European Union is amongst the most prominent economies in the world and is amongst the leaders when it comes to climate change consulting market. Private sector firms can also contribute to the global effort to tackle climate change by helping to establish cap and trade schemes, establishing a fund to support climate change adaptation projects and helping developing countries develop their capacity to mitigate climate change.
Global warming is one of the biggest threats to human security in the present period, and the rapid increase in greenhouse gas emissions is threatening to put millions of people at risk of poverty and disease. By playing a key role in reducing greenhouse gas emissions, businesses can help to preserve the earth’s resources. These firms can also help to strengthen the weak economic and financial sectors of the developing world, therefore contributing to economic growth and development.
There are a number of players in the climate change consulting market who are providing consultancy services to both government and private clients. A major part of these companies’ activities is to identify business opportunities in the rapidly changing climate and supply chain.
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