35. The State Council, The People’s Republic of China. (2025). China sees robust increase in electric vehicle charging facilities. https://english.www.gov.cn/archive/statistics/202501/28/content_WS6798b11ac6d0868f4e8ef3e4.html. 36. Centre for Research on Energy and Clean Air. (2025). Analysis: Clean energy just put China’s CO2 emissions into reverse for first time. https://energyandcleanair.org/analysis-clean-energy-just-put-chinas-co2-emissions-into-reverse-for-first-time/. 37. World Economic Forum. (2025). Clean energy has caused China’s emissions to drop for the first time, but will they keep falling? https://www.weforum.org/stories/2025/06/clean-energy-china-emissions-peak/. 38. Rocky Mountains Institute. (2024). X-Change: The Race to the Top: Cleantech competition between China, Europe, and the United States. https://rmi.org/wp-content/uploads/dlm_uploads/2024/03/X_change_the_race_to_the_top.pdf. 39. Citigroup. (2024). China Economics: Out With the Old Three and In With the New Three. https://www.citigroup.com/global/ insights/china-economics-out-with-the-old-three-and-in-with-the-new-three. 40. Boston Consulting Group. (2024). A Pivotal Moment for US Energy and Industrial Innovation. https://media-publications.bcg.com/A-Pivotal-Moment-for-US-Energy-and-Industrial-Innovation-Whitepaper.pdf. 41. BCG analysis based on the following sources: –Reports and publications from US Energy Information Administration, European Commission, International Energy Agency, US Department of Energy, European Wind Energy Association, BloombergNEF, Benchmark Mineral Intelligence. –Boston Consulting Group. (2024). A Pivotal Moment for US Energy and Industrial Innovation. https://media-publications.bcg.com/A-Pivotal-Moment-for-US-Energy-and-Industrial-Innovation-Whitepaper.pdf. 42. Reuters. (2024). Japan targets 40-50% power supply from renewables by 2040. https://www.reuters.com/sustainability/ climate-energy/japan-targets-40-50-power-supply-renewable-energy-by-2040-2024-12-17/. 43. S&P Global. (2022). South Korean president unveils energy plan focused on cutting fossil fuel reliance. https://www.spglobal.com/commodity-insights/en/news-research/latest-news/energy-transition/070522-south-korean- president-unveils-energy-plan-focused-on-cutting-fossil-fuel-reliance. 44. Republic of Türkiye, Ministry of Foreign Affairs. (2022). Türkiye National Energy Plan. https://enerji.gov.tr/Media/Dizin/EIGM/ tr/Raporlar/TUEP/T%C3%BCrkiye_National_Energy_Plan.pdf. 45. Climate Copernicus EU. (2025). Why are Europe and the Arctic heating up faster than the rest of the world? https://climate.copernicus.eu/why-are-europe-and-arctic-heating-faster-rest-world. –Note: According to the ERA5 dataset of the Copernicus Climate Change Service (C3S), Europe is the fastest-warming continent and has warmed by approximately 0.53°C per decade since the mid-1990s. Since the 1980s, Europe’s warming has outpaced the global average by a factor of two. Several factors explain this trend: changing weather patterns, reduced air pollution and geography (parts of Europe extend into the Arctic). 46. Vincent, R. (2025). Estimated cost of fire damage balloons to more than $250 billion. Los Angeles Times. https://www.latimes.com/business/story/2025-01-24/estimated-cost-of-fire-damage-balloons-to-more-than-250-billion. 47. BBC. (2024). More than 200 killed in Valencia floods as torrential rain hits another Spain region. https://www.bbc.com/ news/live/cgk1m7g73ydt. 48. Sources: –Adapted from the Probable Futures climate tool in the context of a 3°C world at the end of the century: https://probablefutures.org/maps/?selected_map=change_in_total_annual_ precipitation&version=latest&scenario=3&view=mercator#2.2/0/0. –Note: 3°C warming scenario map shows change relative to the conditions in a 0.5°C world, which represents a historical baseline. The global average surface temperature between 1971 and 2000 was approximately 0.5°C above that of 1850-1900. Probable Futures uses the CORDEX-CORE regional climate modelling framework. –World Economic Forum and Boston Consulting Group. (2024). The Cost of Inaction: A CEO Guide to Navigating Climate Risk. https://www.weforum.org/publications/the-cost-of-inaction-a-ceo-guide-to-navigating-climate-risk/ . 49. Sources: –Boston Consulting Group, expert interviews. –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 . –Note: Climate resilience market size is estimated taking into account nine sub-sectors: (1) Active cooling, (2) Passive cooling, (3) Climate-adapted agricultural inputs, (4) Climate resilient building/construction materials, (5) Built flood defence structures and drainage solutions, (6) Emergency/essential medical services and equipment, (7) Urban and industrial waste efficiency, (8) Climate forecasting and risk assessment, (9) Distributed energy solutions (data centres only). 50. For example, Munich-based OroraTech secured €25 million Series B funding for regional expansion and was awarded a €20 million contract by the European Space Agency to provide Greece with wildfire monitoring data. Source: OroraTech. (2024). Greece First Country to Build a National Wildfire System Using OroraTech Technology. https://ororatech.com/ resources/news-blog/greece-first-country-to-build-a-national-wildfire-system-using-ororatech-technology. Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy 56

Already a Multi-Trillion-Dollar Market 2025