Corporate spending on sustainability, environmental and energy programs is likely to rise next year, despite a challenging economic backdrop, according to a new survey from analyst firm Verdantix.
The company polled 250 senior sustainability executives from around the world and found that almost half expect spending to increase by between one and nine percent next year, while nine percent expect spending to increase by between 10 and 25 percent. Three percent expect spending to increase by over 25 percent. In contrast, 39 percent expect sustainability spending to be flat and just four percent expect it to fall.
The picture is even more encouraging for British sustainability executives, with almost two-thirds of respondents from the U.K. saying that they expect spending to increase next year.
"The market is growing and we are in a good sector compared to the rest of the economy," said Verdantix chief executive David Metcalfe at the recent launch of the report. "It's not growing at the rate of a Facebook or Apple, but we still expect to see the U.K. market for energy, environment and sustainability programs have a compound annual growth rate of 14 percent between 2010 and 2015."
Image of growing graph provided by idel via Shutterstock.
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