Business
Forrester: Money -- Not Ethics -- Will Fuel Green Market Opportunity
Environmental sustainability is primed to be a historic business opportunity with massive investments earmarked to fight climate change CAMBRIDGE, Mass., Oct.
About this update from Forrester Research, Inc.
[{"type":"text","content":"Environmental sustainability is primed to be a historic business opportunity with massive investments earmarked to fight climate change \nCAMBRIDGE, Mass., Oct. 18, 2022 /PRNewswire/ -- To combat climate change, governments, investors, consumers, and companies worldwide are stepping up to invest in and embrace more sustainable solutions. Forrester (Nasdaq: FORR) estimates that the US and the EU alone are currently spending $1.4 trillion toward environmental sustainability and climate adaptation; there is $17.5 billion in VC funding for green tech; and the market for green financial instruments globally is $658 billion. These factors are combining to create what Forrester terms as the \"green market revolution\" — a historic business opportunity on par with the first and second industrial revolutions. As a result, companies will no longer view environmental sustainability as primarily an ethical responsibility, but an unprecedented business opportunity that they can't ignore.\nThe green market revolution is set to transform the transportation, energy, and construction sectors; investment in sustainable finance products; and the sourcing and delivery of sustainable goods and services. Leading firms are pushing past greening their operations to pursue corporate sustainability in all their products and practices. Forrester's 2022 data shows that, among business and tech professionals who indicate that improving sustainability is a priority for their organization, 17% are launching new green products and services. Also, firms that make public environmental sustainability commitments and act on them build trust with their stakeholders and increase their business resiliency.\nForrester outlines key considerations for business, marketing, and technology leaders seeking to capitalize on the green market revolution, which will unfold over the next several decades: \nThe green market will transform societies and the global economy. The green market is not solely about renewable energy and batteries. It will reshape and affect everything we do: how we make products, how we transport ourselves and goods, how we heat and cool our environments, how we finance and protect our assets, and what we eat. B2C CMOs are doubling down on sustainability, with 76% noting that green initiatives are among their top five priorities for the rest of 2022.The ...