Deloitte launches GreenSpace Tech, an industry-leading initiative to accelerate sustainability through climate technology ecosystems

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Jan 11, 2023, 08:00 ET

Key highlights:

Spearheaded by entrepreneurs and climate specialists, GreenSpace Tech takes a collaborative approach to commercializing and scaling climate technology solutions for maximum impact
Gives clients access to a globally connected ecosystem of climate technologies and innovators
Drives progress toward net-zero by helping clients identify, advance, and apply emerging tech solutions, and rapidly deploy proven ones

NEW YORK, Jan. 11, 2023 /PRNewswire/ -- Today Deloitte announced the launch of GreenSpace Tech by Deloitte, a new, industry-leading offering that helps accelerate decarbonization and value creation by convening climate technology ecosystems to enable businesses to access and select the right technology, help reduce risk in investments and support application at pace.

No matter where organizations are in their journey in moving from climate commitments to action, GreenSpace Tech provides businesses with access to a robust ecosystem of climate technologies and innovators to quickly track, develop, and deploy climate tech solutions. GreenSpace Tech also helps businesses address climate change risks while simultaneously unleashing value by identifying new collaborations and opportunities.

"There is a tremendous opportunity for the business community to lead as we chart a responsible path to a decarbonized economy," says Deloitte Global CEO Joe Ucuzoglu. "Deloitte is committed to being at the forefront of emerging climate technology to help advance this societal imperative and accelerate organizations' progress toward decarbonization."

Optimizing new and existing technologies

Climate technology plays an important role in the race to decarbonize, but every industry, geography, and organization requires their own unique path forward.

"Whether an organization is looking to address electrification, sustainable aviation fuel, carbon capture, sustainable agriculture or any number of other sustainability challenges, GreenSpace Tech is changing the game—it is uniquely positioned to develop new ecosystems and connect clients with the knowledge and solutions they need to achieve their sustainability goals quickly and effectively," says GreenSpace Tech global leader Andrea Culligan, Partner, Deloitte Australia. "I've also witnessed first-hand how difficult it can be for startups to scale their technologies within large enterprises. GreenSpace Tech has a clear role—allowing organizations to pinpoint the top climate technologies globally and work with innovators and organizations alike to deploy them at scale—thereby enabling businesses to fast track their decarbonization agenda, by selecting and investing in the right technologies to drive and scale impact."

While a number of the technologies needed for decarbonization are still in the prototype phase, many solutions can help accelerate decarbonization efforts now. According to Silicon Valley Bank, nearly all of today's climate technologies are positioned to achieve scale in the next 10 years—demonstrating the importance of quickly commercializing and scaling climate solutions in parallel.

Global efforts to meet net-zero targets are not only imperative for limiting the worst impacts of climate change, but also will likely become a competitive differentiator as these technologies scale and become cost-competitive. The International Energy Agency (IEA) estimates global energy investments will need to rise to US$5 trillion by 2030 and remain at this level until 2050 to fully develop the technologies needed for decarbonization. In fact, the IEA found that almost half of the emissions reductions needed to achieve net-zero by 2050 will stem from technologies not yet fully developed.

GreenSpace Tech takes advantage of Deloitte's global reach, deep knowledge, and vast connections across startups, universities, and research hubs. In working with organizations that are diverse in scientific and engineering approaches, size, and global scale—GreenSpace Tech helps clients formulate effective strategies that invest in future climate solutions, while simultaneously deploying those that already exist.

"Collaboration is crucial to successfully unlocking the potential of a decarbonized society," says Jennifer Steinmann, Deloitte Global Sustainability & Climate practice leader. "GreenSpace Tech allows clients across sectors to swiftly tap into the existing sustainability ecosystem to find leading technology partners and supports organizations in scaling these solutions to help achieve their sustainability goals."

Maximizing climate impact on a global scale

GreenSpace Tech is Deloitte's latest investment in the environmental sustainability space, following last year's US$1 billion launch of the Global Sustainability & Climate practice. Deloitte is already piloting the new service offering with five initial collaborators that span across industries including energy, higher education, and government. Through an extensive global network of ecosystem managers, climate technology specialists, and intelligence platforms, GreenSpace Tech helps its collaborators find effective solutions to address some of society's toughest abatement challenges.

To learn more about GreenSpace Tech, please see here: https://www.deloitte.com/global/en/issues/climate/greenspace.html.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte's approximately 415,000 people worldwide make an impact that matters at www.deloitte.com.

SOURCE Deloitte