10/01/2024 | News release | Distributed by Public on 10/01/2024 05:15
Industrial firms view a rapid reduction in greenhouse gas emission as essential for their future. With the Paris Agreement - and the more recent EU carbon border tax - impacting industries, businesses worldwide must initiate aggressive decarbonization efforts to reduce carbon footprints and meet sustainability targets. However, achieving these goals is no small feat. Industrial firms face a complex landscape of decarbonization technologies, rising regulatory pressures, shifting consumer preferences for sustainable products and increased investor scrutiny on environmental performance.
In response, operations, maintenance and engineering executives are turning to external experts to help develop and implement strategies that achieve net zero, production efficiency and digitization targets. In the Verdantix 2024 industrial operations and maintenance services survey, 54% of respondents responsible for investments in consultant-led initiatives reported that third-party service providers handled all or most of their decarbonization road mapping and carbon emissions reduction activities. Additionally, 40% of decision-makers plan to increase spending on third-party service providers - such as Arcadis, ERM and EY - to achieve their decarbonization and sustainable operations initiatives. Industrial firms are turning to consultants for:
As the global drive toward decarbonization intensifies, the reliance on consultants will likely deepen, empowering industrial firms to not only achieve ambitious net zero objectives, but also successfully navigate the complex landscape of emerging technologies, stringent regulations and shifting market dynamics. With third-party support, industrial organizations will be best-placed to address specific industrial challenges and ensure long-term viability.
For more information on how firms are leveraging industrial service providers across heavy asset industries, please read Global Corporate Survey 2024: Industrial Operations And Maintenance Services Budgets, Priorities And Tech Preferences.
Kiran is a Senior Analyst in the Verdantix Operational Excellence practice. His current research agenda focuses on emerging solutions and global market trends across the process industries, with a particular interest in APM, AIP and process simulation solutions. Prior to joining Verdantix, Kiran worked at Siemens DI, where he gained experience in advanced process modelling and digital twin technologies. Kiran holds an MEng in Chemical Engineering from the University of Nottingham.