As the spotlight on sustainability intensifies in both corporate strategies and international arenas like the imminent G20 Summit, the hunt for specialists in Environmental, Social, and Corporate Governance (ESG) is spiking dramatically. Exclusive data from TeamLease Digital reveals that ESG job postings soared by nearly 70% in the first half of 2023, compared to the same timeframe last year, primarily fueled by Electric Vehicle (EV) startups and clean tech companies.
Prominent corporations including Schneider Electric, Tata Power, Lenovo India, EY, KPMG, Asian Paints, and several leading banks are on a hiring spree for ESG specialists, according to sources within HR departments, job platforms, and consultancy firms.
"Anticipating a 30-33% year-over-year growth in ESG investments by 2030, India, along with Singapore, is emerging as a key player in the Asia-Pacific region," said Munira Loliwala, AVP at TeamLease Digital. She identified shifts in corporate culture, the ascendancy of stakeholder capitalism, and initiatives to bridge the diversity gap in STEM fields as key contributors to this trend.
Eco-Consciousness as a Business Cornerstone
"Eco-consciousness has transitioned from being merely an ethical consideration to a core element for long-term business viability," stated Binu Philip, the Chief Human Resources Officer for Schneider Electric's Greater India Zone. The company is broadening its sustainability initiatives through hires in R&D, digital innovation, commercial operations, and consultancy. "We are in search of experts in various roles, such as sustainability managers and environmental consultants," added Philip.
Expanding Sustainability Measures at Tata Power
At Tata Power, the ESG and Sustainable Development team has doubled in size over the last couple of years. Himal Tewari, CHRO and Chief of CSR & Sustainability, notes that the company is leveraging both internal and external talent to meet its ESG commitments. "Our emphasis on sustainability and ESG blends seasoned internal expertise with fresh insights from new recruits," Tewari mentioned.
Mid-Level Professionals in High Demand for ESG Roles
Talent platform Foundit has reported a more than twofold increase in ESG job listings since December 2021. Most of the demand is for professionals with 4-10 years of experience, making up approximately 56% of the ESG job market. "This significant demand, particularly among mid-level experts, signals the widening influence and growing importance of sustainability in business," stated Foundit.
The Crucial Role of ESG Skill Sets in Today's Business Ecosystem
"Mastering ESG is vital for companies navigating the complex currents of contemporary business practices," said Foundit CEO Sekhar Garisa. The challenge lies in a nearly 50% shortage in ready-to-deploy talent, which is why firms are willing to offer lucrative compensation to secure qualified candidates, highlighted Munira Loliwala of TeamLease.
Internal Skill Development as an ESG Strategy
Lenovo India's Head of HR, Bhavya Misra, stressed the importance of their two-pronged strategy for ESG expertise. "In addition to external hiring, we're also making significant investments in upskilling our existing staff," Misra said. She also pointed out that the rising Gen Z workforce's intrinsic interest in sustainability is being harnessed.
Employee Education on Climate Issues
Schneider Electric has instituted programs like the Schneider Sustainability School to further educate their existing employees on climate and sustainability issues. "Our goal is to arm our team with the necessary skills to effectively contribute to our sustainability objectives," a company representative mentioned.
Diversifying the ESG Talent Pool
"Given the shortage of talent, companies are also sourcing candidates from diverse sectors such as economics, mathematics, research, social sciences, waste management, and even law," explained Munira Loliwala of TeamLease. This inter-disciplinary recruitment approach reflects the wide-ranging skill sets relevant to ESG roles.
(CopyRight@India CSR)
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