SKYROCKETING DEMAND FOR CARBON ACCOUNTING SOFTWARE

The global market value of Carbon Accounting software is on the rise. Recent research predicts that the market, with a valuation at USD $12.73 billion in 2022, will undergo consistent growth in the ensuing years.

Carbon Neutral Industries

In 2023, the market value is predicted to rise to $15.31 billion. This is expected to grow up to $64.39 billion in 2030. With Compound Annual Growth Rate (CAGR) at 22.8% the future sees a significant rise in the demand for carbon accounting tools. 

New and innovative software solutions designed to address business and government needs will emerge as the market for climate-related risk and financial data grows.

WHAT IS CARBON ACCOUNTING?

As a carbon footprint consultant would advise, carbon accounting involves tracking, managing, and reporting carbon emissions, or the amount of greenhouse gas (GHG) emissions a company produces or is associated with in their operations and through their value chain. This helps businesses understand their environmental impact as it relates to climate change, set net zero carbon targets, mitigate their risk against climate- related regulations, and work towards achieving their larger corporate sustainability objectives.

Through carbon footprint consulting and the use of carbon accounting software, businesses can ease the process of quantifying and reporting their emissions, reduce their carbon emissions, and reach their sustainability goals. Carbon Accounting, in simpler terms, can be outlined in the infographic below.