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Advising firms on climate change is a booming business, but
potential clients should scrutinise consultancies closely
before they open their wallets and their ears, says a recent
report.
The report from Verdantix
- a business research firm - applies 74 evaluation criteria
- covering carbon footprints, carbon management strategy,
corporate strategy for climate change, global carbon markets
advisory and cleantech consulting - to help buyers compare
the climate change offerings of 16 leading consulting firms,
including Deloitte, EcoSecurities, ERM, ICF, KPMG and
McKinsey.
“In 2008, consulting firms expect to see growth of up 200
per cent from 2007 for advice on global carbon markets and
renewable energy” - said Verdantix director and report author,
David Metcalfe. “Demand for climate change advice is growing
at a healthy rate of 25 per cent. Buyers are looking for proven
environmental expertise with a business analysis edge. This
combination poses a challenge for new players entering the
climate change consulting market.”
Verdantix’s analysis of the climate change business consulting
market is based on in-depth interviews with practice leaders
of business consultancies and a focus group composed of 15
buyers of climate change services.
The research found that, as climate change evolves from an
environmental issue into an economic issue, buyers seek environmental
expertise wrapped with business analysis. As a result, managers
responsible for implementing climate change programmes hope
to appoint advisers who combine technical expertise with business
advice and financial analysis skills.
Despite the backing of strong brand names and investment
in new climate change consulting capabilities, IT and strategy
consulting firms have a long way to go to convince sceptical
buyers that they are the right partner, says the report.
Carbon management and compliance dominate spending, according
to the report. To-date, firms have invested in carbon measurement
and management advice and plan to spend on compliance in the
next 12 months. Opportunity analysis, carbon offsetting advice
and strategy development are not priorities for 2009.
“Buyers of consulting engagements could overpay or select
a provider with skills that do not match the challenge. Confusion
will increase as more players are poised to launch services”
- said Metcalfe.
Overall, ICF
International comes out top in the report with - 'a
long track record in climate change advisory, deep environmental
expertise, business analysis skills and the capability to
deliver engagements in energy intensive sectors and service
sectors'.
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