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illuminem summarizes for you the essential news of the day. Read the full piece on Business Green or enjoy below:
🗞️ Driving the news: The ESG reporting software market is projected to grow fourfold, reaching $5.6 billion by 2029
• This surge is driven by rising regulatory pressures and increasingly complex corporate reporting requirements worldwide
🔭 The context: Businesses are increasingly relying on technology solutions to meet stringent sustainability reporting standards and address growing investor and stakeholder demands for transparency • Global regulations, like those from the EU and ISSB, are accelerating the adoption of ESG-focused tools
🌍 Why it matters for the planet: Efficient ESG reporting allows businesses to track and disclose sustainability performance, fostering accountability and better environmental outcomes
• Accurate reporting supports global climate targets by aligning corporate actions with sustainability goals
⏭️ What's next: The ESG software market is expected to expand rapidly, with companies investing in tech-driven solutions to simplify compliance and improve data accuracy
• This trend reflects a broader move towards digitized sustainability management
💬 One quote: The global ESG reporting software market is projected to grow from $0.9 billion in 2024 to $2.1 billion by 2029, at a compound annual growth rate (CAGR) of 17.0% during this period
📈 One stat: The ESG reporting software market is predicted to hit $5.6 billion by 2029, a fourfold increase from current levels
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