Already a Multi-Trillion-Dollar Market 2025

1. Technology refers to companies that are primarily engaged in the advancement of the information technology and electronics industries – see Appendix 2 for a detailed definition of the technology industry. “Green economy” is based on the London Stock Exchange Group (LSEG)’s definition of cumulative green revenues (see Appendix 3). 2. See detailed figures in Figure 1. Sources: –Boston Consulting Group. (2025). Sustaining the Private Capital Opportunity in Climate. https://www.bcg.com/ publications/2025/sustaining-the-private-capital-opportunity-in-climate. –Boston Consulting Group and Temasek. (2025). The Private Equity Opportunity in Climate Adaptation and Resilience. https://www.bcg.com/publications/2025/investment-opportunities-in-climate-a-and-r . –BCG analysis and expert interviews, 2025. 3. Sources: as per those in endnote 2. 4. Industry Classification Benchmark (ICB) is a globally utilized standard for the categorization and comparison of companies by industry and sector, developed by the London Stock Exchange Group (LSEG). It includes: (1) Technology, (2) Telecommunications, (3) Healthcare, (4) Financials, (5) Real estate, (6) Consumer discretionary, (7) Consumer staples, (8) Industrials, (9) Materials, (10) Energy, (11) Utilities – see Appendix 2 for more details. 5. Financial Times Stock Exchange (FTSE) All World Index refers to a market-capitalization weighted index representing the performance of the large and mid-cap stocks from the FTSE Global Equity Index Series. 6. Technology refers to companies that are primarily engaged in the advancement of the information technology and electronics industries – see Appendix 2 for the detailed definition of the technology industry. “Green economy” is based on LSEG’s definition of cumulative green revenues (see Appendix 3). 7. S&P 500 refers to a US Stock market index representing all major industries. 8. Sources: –Analysis showcased in the first graph relies on data from: London Stock Exchange. (2025). Investing in the green economy 2025. https://www.lseg.com/content/dam/lseg/en_us/documents/sustainability/investing-in-green- economy-2025.pdf. –Analysis showcased in the second graph relies on a combination of data from S&P Global data extracted via the proprietary CapitalIQ data platform and from: London Stock Exchange. (2025). Investing in the green economy 2025. https://www.lseg.com/content/dam/lseg/en_us/documents/sustainability/investing-in-green-economy-2025.pdf. –Boston Consulting Group analysis. 9. Science Based Targets initiative (SBTi). (2025). SBTi Trend Tracker. https://files.sciencebasedtargets.org/production/files/ SBTi-Trend-Tracker-2025.pdf. 10. Current policies – despite real progress – still put the world on track for ~3°C of warming by century’s end. Source: Intergovernmental Panel on Climate Change (IPCC). (2022). Climate Change 2022: Mitigation of Climate Change. Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change. https://www.ipcc.ch/report/ar6/wg3/chapter/chapter-3/. 11. EM-DAT: The International Disaster Database. (2024). https://www.emdat.be/. –Note: EM-DAT’s database classifies disasters into two groups of hazards: natural and technological. The natural group is further classified into hydrological, meteorological, geophysical, biological and climatological hazards. This report uses the term “climate-related disasters” to refer to those events referenced by EM-DAT’s datapoint of disasters causing $3.6 trillion in economic damage since 2000. This terminology makes clear that these disasters are not “natural” but related to extreme weather events, which may or may not be individually attributable to climate change, but whose frequency and intensity is amplified by climate change. 12. This report draws on multiple perspectives to define the green economy, including frameworks from the European Union Green Taxonomy, Carbon Disclosure Project (CDP), London Stock Exchange Group (LSEG), University of Oxford, Temasek and Boston Consulting Group (BCG) analysis. 13. Boston Consulting Group. (2025). Sustaining the Private Capital Opportunity in Climate. https://www.bcg.com/ publications/2025/sustaining-the-private-capital-opportunity-in-climate. 14. Boston Consulting Group and Temasek. (2025). The Private Equity Opportunity in Climate Adaptation and Resilience. https://www.bcg.com/publications/2025/investment-opportunities-in-climate-a-and-r .Endnotes Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy 53