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Carbon management software spend to hit $256m by 2027
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Banks, insurers, private equity and investment managers are driving a spending boom in carbon management as they gear up to meet regulatory standards.

That’s according to a new report from independent research and advisory firm Verdantix, which predicts global spending on carbon management software across the finance industry will rise fivefold to $256 million by 2027 compared with just $51 million in 2021 as companies increasingly adopt Task Force on Climate-Related Disclosures (TCFD) regulations.

Financial services businesses need specialist software to track data and estimate Scope 3 carbon emissions stemming from their portfolio firms. The 2022 TCFD status report found 43% of financial institutions interviewed ratedScope 3 GHG emissions as a ‘very difficult’ recommended disclosure.

The compound annual growth rate among financial companies is estimated by Verdantix as 31% until 2027, while its Market Size And Forecast: Carbon Management Software 2021-2027 (Global) report forecasts the total market will grow at an annual rate of 28% to hit $1.49 billion by 2027.

Verdantix predicts that the EMEA region will be the fastest-growing and it will overtake North America as the biggest global market by 2025 and will be worth more than $650 million two years later.

North America will still grow strongly but Verdantix estimates SEC climate disclosure rules announced in March 2022 will not come into effect until 2025 for major quoted firms worth more than $700 million and 2026 for smaller publicly traded companies.

Technology, media and telecommunications firms’ spending on carbon management software is expected to grow strongly as well, mainly driven by net zero pledges and competitive pressures. Industries with fossil-fuel-intrinsic emissions and hard-to-abate emissions will grow more slowly.

Alessandra Leggieri, ESG & Sustainability Analyst at Verdantix said: “Combined regulatory and non-regulatory drivers will increase demand for carbon management software dramatically. Economic factors such as high inflation will have minimal negative impact on budgets because of strong regulatory pressure. Firms should start implementing carbon management software now to streamline their data collection and reporting. With an accurate understanding of their emissions, firms will not only comply with regulations, but also withstand reputational pressure and gain competitive advantage in their markets.”

Verdantix report – 5 best practices for success in the hybrid working era
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When you look back to the beginning of the first lockdown, are you proud of how rapidly your facilities team was able to adapt to enable your business to survive – and possibly even thrive? But what now? Do you have concrete next steps for your workplace strategy?

A growing number of organisations have announced their plans to shift to a hybrid system of remote and in-office work. Corporate real estate and facility management leaders have a key role to play in operationalising these hybrid strategies and implementing change at the building level.

For a limited time, Planon is offering free access to a report by Verdantix which outlines five best practices for success in your future workplace strategies for 2021 and beyond. The report is based on a thorough evaluation of 100 return-to-work strategies and global interviews with 250 corporate heads of real estate on their post-COVID strategies.

Click Here to Request Report

Verdantix report – Planon opens up its IWMS platform
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By Planon Software

Large organisations are having to adopt new technologies at an increasing pace to stay up-to-date and competitive in the market. As a result, the IT landscape for your building operations will become more complex.

To support this digital transformation, we have added several components to our IWMS – including a new suite of mobile apps, extended partnership ecosystem and new functionality for COVID-19 management – turning it into a truly open application platform which allows you to leverage the growing number of innovative property technology solutions available in the market in an efficient, manageable and scalable way.

For a limited time, we are offering free access to a report by Verdantix – an independent research and consulting firm – which was published in November 2020 and thoroughly evaluates the Planon Platform.

Click here to download the white paper.