An increase in demand for environmental, social, and governance (ESG) specialists has resulted in new positions and job titles emerging and a greater emphasis on sustainable financing. The demand for ESG professionals increased by more than 223% in India between April 2019 and April 2023.
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The growing understanding of the need for sustainable business practices has resulted in an increase in demand for environmental, social, and governance (ESG) specialists across a variety of industries. As a result, the ESG jobs market is becoming more diverse, with new positions and job titles emerging and a greater emphasis on sustainable financing.
Positions within a firm or organization that focus on sustainability and ethical business practices are known as ESG roles. These positions can be found in both private and public organizations, and they cover a wide range of industries and sectors.
One of the key objectives of ESG jobs is to promote environmental sustainability. For example, minimizing a company’s carbon footprint, as well as social and governance practices that benefit the community and stakeholders.
Challenges faced by sustainability professionals while implementing include budget constraints, lack of human resources, the measurement, reporting, and disclosure of outcomes, goal and target setting, and meeting regulations or standards.
Some of the ESG jobs titles include environmental engineer, sustainability manager, social impact analyst, corporate responsibility officer and others.
Scenario of Environmental, Social, and Governance Jobs in India
According to job site Indeed, jobs in the ESG industry increased by more than 223% in India between April 2019 and April 2023. The rise over the last three years demonstrates the extraordinary transformation as businesses prioritize sustainability activities.
Concerns about climate change as well as the urgent need to create more diverse and inclusive workforces are at the forefront of many business executives’ minds. An increasing number of companies are vowing to take action on climate, social, and other issues by adhering to ESG principles.
Indian enterprises are quickly adopting ESG considerations into their overall business strategies. There have been two watershed moments in India for sustainability: corporate social responsibility (CSR) reporting and spending and Securities and Exchange Board of India (SEBI) guidelines for business responsibility and sustainability reporting (BRSR).
The Indian government has also begun to implement a number of schemes and regulations to support sustainability efforts and corporate practices, such as the National Solar Mission and the National Electric Mobility Mission Plan, in order to promote renewable energy and lower carbon emissions initiatives.
The greatest rise in job postings on the Indeed platform occurred between April 2021 and April 2022, expanding by 109%. Despite this significant growth, ESG jobs fell by 22% last year.
“This indicates that while sustainability formed a key part of organizational goals due to the pandemic, it may have cooled down in the last year, indicating a stabilization of this segment of jobs following the post-covid growth spurt,” Indeed said.
On the other hand, demand from job seekers has increased in recent years. Between April 2022 and 2023, job searches for sustainability roles climbed by 31%, the highest growth in the last three years.
In the previous three years, job seekers’ interest in sustainability roles has increased by 13%. This demonstrates that there is an increased demand from job seekers for positions in sustainability and related disciplines.
Trends in other countries
Other Southeast Asian countries, like Singapore and Malaysia, have experienced a 146% and 139% surge in ESG jobs postings over the last three years, respectively. Both of these countries, like India, had a fall in the previous year (-29% and -10%) but experienced a 71% and 111% increase in demand from job seekers in the previous three years.
“The growing demand for ESG professionals can be attributed to several factors, including rising consumer expectations and the need for companies to enhance their brand reputation,” said Sashi Kumar, Head of Sales at Indeed India.
“Employers are actively seeking individuals with expertise in sustainable practices, environmental science, conservation, corporate social responsibility, and related fields to fill these positions. In addition, employees, especially the younger ones today, place much,” he added.
Conclusion
The need for ESG specialists in India has grown rapidly over the past few years. Companies are increasingly focusing on sustainable practices, but there was a slight decrease in job postings last year, indicating a stabilization. However, job seekers are still highly interested in sustainability roles.
The rise of ESG employment on Indeed’s platform demonstrates Indian businesses’ growing understanding and commitment to creating a greener, more socially responsible future. Businesses are adopting initiatives for sustainability and setting targets to reduce their environmental effect while improving their social and governance standards. A significant shift in how businesses approach their operations recognizes that environmental and social sustainability are critical to long-term success.
