Green economy continues to surge as WEF predicts market will top S7trin within the decade

A NEW report released by the World Economic Forum (WEF) in collaboration with Boston Consulting Group (BCG) shows that businesses across multiple sectors are reaping the benefits of the rapidly expanding green economy, now the world’s second-fastest growing market after technology.

- SIPHELELE DLUDLA

The report titled "Already a Multi-Trillion-Dollar Market: A CEO Guide to Growth in the Green Economy’, reveals that the global green economy has already reached an annual value of $5 trillion and is projected to exceed $7trln before 2035.

In this report, the green economy refers to commercial solutions with a clear environmental purpose or solutions that are a direct response to environmental challenges. This covers both mitigation and adaptation and resilience, from advanced clean technologies to nascent agri-tech solutions.