Back to all weekly shorts
Weekly Short
8 March, 2024
Recent insights from the Financial Times reveal the sustainability consultancy sector is experiencing a shift in demand as clients navigate economic uncertainty and inflation pressures. Although spending on sustainability advice reached $48.9 billion globally in 2023 – an 8% increase from 2022 – the rate of growth is starting to slow.
One trend noted is the migration of spending from sustainability strategies towards implementation. Research by Source Global found that companies are increasingly turning to large technology consultancies to address sustainability-related challenges, particularly in relation to the clean energy transition and compliance with reporting requirements.
But fear not, small-but-mighty agencies! According to the FT article, larger consultancies do not always provide the best sustainability advice. The article underscores the distinctive value proposition of smaller, boutique sustainability consultancies, renowned for their deep expertise and values-driven approach. This was also reflected by our CEO Giles Gibbons, who was quoted in the article, and highlighted the nuanced services that smaller consultancy firms provide, acting as a “critical friend” to offer honest feedback. With almost 30 years’ experience, Good Business is well placed to adapt to the ever-changing sustainability landscape, and continue to provide independent, quality advice to clients.
The complexity of sustainability challenges also demands collaboration. As an example, here at Good Business, our strategic partnership with Biodiversify, a specialist biodiversity and conservation consultancy, allows us to better support our clients to address the twin emergencies of our time: climate change and nature depletion. Our experience, values and ways of working are complementary and closely aligned, allowing us to build long-term client relationships rooted in expert advice, flexibility, and bespoke solutions.
So, as the sustainability consultancy landscape evolves, small sustainability consultancies like ours continue to play an indispensable role, collaborating and leading the way in shaping a more sustainable world.
By Charlotte Pounder