Green Quadrant Environmental Services Providers said the seven companies stood out in a field of 20 environmental services firms assessed in the study because of their national reach; ability to provide end-to-end project management without subcontracting; recent acquisitions which have boosted technical expertise; and investments in sustainability data collection, reporting and goal setting. These companies also have a network of equipment suppliers, universities and other partners that help them to innovate.
The price of natural resources, tight operating budgets, fears over reputational risk and increased concern over the costs of environmental disasters has created a shift within the environmental services market. Buyers now expect environmental services firms to deliver innovation that helps them meet resource efficiency targets, implement advanced technologies and design programs to scale globally. Customers also want their environmental, health and safety initiatives to be integrated with sustainability processes, according to the Verdantix study.
Buyers of environmental services have upped their demands and they now want efficiency savings as well as timely project delivery. They also want providers to share risk, not wash their hands of liabilities, said Rodolphe d’Arjuzon, global head of research at Verdantix. Environmental services suppliers in the US market should offer customers more hard data on projects, create innovative engagement models with shared project risk and figure out how to implement a lifecycle approach to environmental resource management, d’Arjuzon added.
According to a survey conducted for the report, 47 percent of environmental services companies surveyed plan to increase spending on remediation and waste management over the next two years, and 40 percent plan to spend more on transaction services and EH&S compliance.
The report used 50 criteria to assess the 20 most significant companies in the US environmental services market. The study evaluated companies’ eight service areas, including remediation, environmental health and safety compliance, environmental impact assessment, EH&S management, transaction services, waste management, product-level environmental compliance and natural resource management.