–CapitalIQ. –Boston Consulting Group. (2025). The Valuation Boost That Comes with Green Growth. https://www.bcg.com/ publications/2025/valuation-boost-comes-with-green-growth. –Note: For a definition of green revenues, see Appendix 3. 66. Consumer staples industry consists of companies that provide products and services directly to the consumers and their purchasing habits are non-cyclical in nature (staples). It includes companies that manufacture, distribute and/or retail food, beverages and other non-durable household goods. It also includes drug-retailing companies as well as agriculture, fishing, ranching and milling companies. 67. The Marine Environment Protection Committee’s extraordinary session (14–17 October 2025) adjourned for one year after failing to come to a consensus or call a vote on the Net-Zero Framework agreed in April. Work on the guidelines for implementing the framework will continue for a potential adoption in 2026. 68. Dow. Decarbonizing value chains with the Carbon Footprint Ledger. https://www.dow.com/en-us/brand/sustainability- science/carbon-footprint-ledger.html. 69. Refers to the analyses presented in Chapter 4 based on London Stock Exchange Group (LSEG) data. 70. Harvard Business Review. (2023). Research: Consumers’ Sustainability Demands Are Rising. https://hbr.org/2023/09/ research-consumers-sustainability-demands-are-rising. 71. Leveraging the purchasing power of its over 100 member companies, the First Movers Coalition works to scale up the market for breakthrough clean technologies critical to reach net zero in “hard-to-abate” industrial and transportation industries. 72. International Energy Agency. (2024). Clean energy is boosting economic growth. https://www.iea.org/commentaries/ clean-energy-is-boosting-economic-growth. 73. International Monetary Fund. (2024). The Energy Security Gains from Strengthening Europe’s Climate Action. https://www.imf.org/en/Publications/Departmental-Papers-Policy-Papers/Issues/2024/05/17/The-Energy-Security-Gains- from-Strengthening-Europes-Climate-Action-544924. 74. International Renewable Energy Agency. (2024). Renewable Energy and Jobs: Annual Review 2024. https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2024/Oct/IRENA_Renewable_energy_and_jobs_2024.pdf. 75. Estimate based on Swiss Re, World Bank, International Energy Agency, United Nations Environment Programme, CPI and Boston Consulting Group analysis. 76. Sources: –Organisation for Economic Co-operation and Development (OECD). (2025). Government at a Glance 2025. https://www.oecd.org/en/publications/government-at-a-glance-2025_0efd0bcd-en.html. –World Bank retrieved from Federal Reserve Bank of St. Louis (FRED). (2025). Gross Domestic Product for OECD Members. https://fred.stlouisfed.org/series/NYGDPMKTPCDOED. 77. World Bank. (2021). Green Public Procurement: An Overview of Green Reforms in Country Procurement Systems. https://documents1.worldbank.org/curated/en/157141636056129273/pdf/Green-Public-Procurement-An-Overview-of- Green-Reforms-in-Country-Procurement-Systems.pdf. 78. In some cases, procurement policies set strong technical standards but apply them to only a small fraction of total contracts, which limits market impact. In other cases, policies cover large volumes but use vague or non-binding sustainability criteria, which reduces their effectiveness in driving decarbonization. 79. In the European Union, the average permitting time for new renewable power projects is 3.5 years, with some wind projects facing delays of up to 7 years due to complex administrative procedures. Globally, permitting delays can extend renewable projects by up to 9 years. 80. 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 . 81. London Stock Exchange Group. (2024). Industry Classification Benchmark (Equity), v4.9. https://www.lseg.com/content/ dam/ftse-russell/en_us/documents/ground-rules/icb-ground-rules.pdf. 82. London Stock Exchange Group (LSEG), FTSE Russell. (2024). Green Revenues 2.0 data model: Quantifying balance sheet exposure to environmental activities. https://www.lseg.com/content/dam/ftse-russell/en_us/documents/other/green- revenues.pdf. Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy 58

Already a Multi-Trillion-Dollar Market 2025