The need for innovation and new green and inclusive business models also provides an opportunity for companies to contribute to green growth and climate action on a profitable basis, by developing new products and services, diversifying their business streams, as well as reaching new targets. A survey of the heads of ‘Caring for Climate’ members, a coalition of businesses under the UN Global Compact, found that over half viewed climate change as a driver of growth and innovation in their companies over the next five years (UN Global Compact/Accenture, 2015). Furthermore, green sectors have experienced higher-than-average growth rates over the last few years, for example, the ‘green and renewable energy’ sector ranks first globally in compounded annual growth rates (CAGR) in revenues by sectors over 2012-2017, as shown by NYU Stern which tracks historical CAGR in revenues and net income by sectors. In the same time span, the total global market CAGR in revenues was 6.45% for comparison (NYU Stern, 2017).