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As sustainability takes center stage in corporate agendas and global forums like the upcoming G20 Summit, the demand for experts in Environmental, Social, and Corporate Governance (ESG) is experiencing an unprecedented surge. According to data exclusively shared with ET by TeamLease Digital, job openings in the ESG sector witnessed a nearly 70% increase in the first half of 2023, compared to the same period in the previous year. This growth has been primarily led by Electric Vehicle (EV) startups and clean technology firms.
Various industry leaders such as Schneider Electric, Tata Power, Lenovo India, EY, KPMG, Asian Paints, HSBC, Barclays, Deutsche Bank, JPMC, Capgemini, and L&T are actively hiring ESG professionals, according to HR heads, job sites, and consultants.
Munira Loliwala, AVP at TeamLease Digital, elaborated on the trend: “India is expected to see a year-on-year rise of 30-33% in ESG investments by 2030, thus becoming the strongest player in the Asia-Pacific along with Singapore. Key drivers of this surge include a shift in work culture, the rise of stakeholder capitalism, and efforts to address diversity losses in STEM talent.”
Environmental Responsibility: A Pillar of Business Success
“Environmental responsibility is no longer just a moral imperative but is foundational to the long-term growth and success of a business,” said Binu Philip, Chief Human Resources Officer for the Greater India Zone at Schneider Electric. The company is diversifying its sustainability efforts by hiring in areas including research and development, digital innovation, commercial operations, and consulting. “We are actively seeking skilled professionals to fill critical positions such as sustainability managers, environmental consultants, ESG analysts, safety specialists, and design engineers,” Philip added.
Scaling ESG Efforts at Tata Power
Himal Tewari, CHRO and Chief of CSR & Sustainability at Tata Power, indicated that the size of their ESG and Sustainable Development team has doubled over the last two to three years. The company is fulfilling its ESG roles by employing a balanced mix of internal talent and new hires with specific skill sets. “Tata Power continues to expand its focus on sustainability and ESG, blending in-house expertise with fresh perspectives from new hires,” said Tewari.
Rising Demand for Mid-Level ESG Professionals
Foundit, a talent platform, reported a nearly two-and-a-half-fold increase in demand for ESG roles since December 2021. While hiring trends span across experience levels, professionals with 4 to 10 years of experience make up the largest segment, holding close to 56% of the ESG job market. “The growing demand for ESG roles, especially among mid-level professionals, indicates the broadening scope and deepening impact of sustainability in the corporate world,” Foundit stated.
The Importance of ESG Talent in Modern Business
“ESG talent is essential for organizations to effectively navigate the intricate web of expectations, regulations, risks, and opportunities that define the modern business landscape,” said Sekhar Garisa, CEO of Foundit. Despite this critical need, companies are grappling with a talent crunch. Munira Loliwala from TeamLease highlighted that the supply of work-ready talent still lags by over 48%, explaining why companies are willing to pay premium salaries to secure qualified professionals.
Internal Upskilling as a Strategy for ESG Roles
Bhavya Misra, Head of HR at Lenovo India, emphasized the company’s dual approach to building ESG competence. “Besides hiring externally, Lenovo India invests extensively in programs designed to elevate the ESG competencies of our existing workforce,” said Misra. She noted that they are also tapping into Gen Z’s inherent interest in sustainability as this demographic becomes more represented in the workforce.
Climate Training Initiatives at Schneider Electric
Schneider Electric is going beyond hiring and has initiated programs like the Schneider Sustainability School to enhance climate and sustainability training among its existing employees. “We believe in equipping our workforce with the skills they need to contribute effectively to our sustainability goals,” a representative from Schneider stated.
Broadening the Talent Pool for ESG Roles
“While there is a talent scarcity, organizations are also solving this by recruiting from diverse fields such as economics, mathematics, research, applied sciences, social sciences, waste management, law, and the non-profit sector,” said Munira Loliwala from TeamLease. This multi-disciplinary approach suggests that the skills relevant to ESG roles can be found in a variety of professional backgrounds.
(CopyRight@IndiaESG)
