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PTWhat does it mean to be included in Verdantix's Green Quadrant?
WayCarbon is the only organization from the Global South present in the Green Quadrant, a global survey conducted by Verdantix, which aims to support companies in selecting software and service providers to work on the climate and sustainability agenda. WayCarbon was selected for three quadrants in 2023 (as the survey is conducted approximately every 18 months, the 2024 results have not yet been published), one for its consulting services and two for the digital platform Ecosystem: Enterprise Carbon Management Software; Climate Change Consulting Report; and ESG Reporting and Data Management Software. But why is this recognition so important?
For a solution to be listed in the Green Quadrant, it must go through a rigorous process. Verdantix conducts qualitative research with more than 2,000 companies worldwide about solution providers: to be included in the list, the suppliers must be cited or recognized by a certain percentage of respondents (the exact number is not available). In addition, they must provide demonstrations lasting approximately two hours, prove their experience in multiple sectors of the economy through case studies, and answer detailed questionnaires. For the survey on ESG reporting and data, for example, the form contained 115 questions, 15 capability categories and 11 market dynamics categories. Verdantix experts also conduct research on public data to complement and verify information.
Founded in London in 2008, Verdantix is an independent research firm with high credibility, proven through its studies, events and consulting services. Its goal is to improve the decision-making of leaders around the world in six areas: EHS and Quality; ESG and Sustainability; Net-Zero and Climate Risk; Industrial Transformation; Real Estate and Construction; and Risk Management.
The Green Quadrant analysis provides buyers with a structured, evidence-based comparison of the solutions identified, which guides and facilitates purchasing decisions. At the conclusion of the analysis, companies are divided into quadrants: Innovators, Leaders, Challengers and Specialists. See the figure below:
Figure 1: Green Quadrant Climate Change Consulting Report 2023, Verdantix.
What are the criteria for a company to be included in the Green Quadrant?
To build the Green Quadrant for consulting, 50 more companies were evaluated and only those with the potential to support complex implementations at scale were selected. To achieve this, minimum scores are defined based on the criteria below:
• Coverage of more than half of the Green Quadrant capability categories
To ensure that participants can offer a wide range of climate change consulting projects, providers were only included in the quadrant if they demonstrated capability in at least 50% of the following capability categories: climate resilience strategy and implementation; Net-Zero strategy and implementation; climate data management and disclosure; and asset decarbonization.
• At least 200 dedicated climate change consultants
To qualify for participation in the Green Quadrant, companies must employ 200 dedicated climate change consultants. While companies with smaller consulting and advisory capabilities may offer similar capabilities, the survey found that they are unable to adequately deliver projects across all categories to meet the needs of all buyers.
• Global presence
To qualify for the study, participants had to demonstrate that they operate with at least two separate offices in different countries. In this way, they demonstrate that they have the structure and potential to scale to serve international players.
What is the methodology behind the Green Quadrant?
Verdantix works to analyze all companies that would qualify for inclusion in the surveys. If the invitation is declined or there is no response, a search of public information is carried out to demonstrate the market positioning of these companies. If the data is considered complete and accurate enough to form a benchmarking basis, the company is included in the analysis.
One of the most important points in the survey is the buyer’s perspective. To obtain this rating, Verdantix interviews reference customers and individuals who have purchased or are planning to purchase the product or service being reviewed. To assess each provider’s experience, capabilities, business results, and strategies: Verdantix experts gather evidence from public sources and speak with multiple representatives of each service, as well as industry experts. When providers claim to be “best in class”, they are challenged to prove their claim.
The full publications can be found at the links below (restricted to subscribers):
Green Quadrant: Enterprise Carbon Management Software 2023
Green Quadrant: Climate Change Consulting Report 2023
Green Quadrant: ESG Reporting And Data Management Software 2023
Count on WayCarbon’s credibility and technical authority to guide your company on the sustainability and decarbonization journey. Contact our experts.
