With growing concerns about climate change and the necessary mandates, the job demand in the environmental, social and governance (ESG) sector has grown over 468 per cent in India in the last three years, according to a report.
The most significant increase in demand was witnessed during the last year, between April 2021 and April 2022, according to a report by job site Indeed.
The number of job posts grew 154 per cent compared to the previous year when the expansion of these roles was 97 per cent, it added.
The increase in job postings for ESG indicates that the idea of letting values guide a company has been growing over the last decade and has taken off during the pandemic, the report said.
Demand for ESG roles grew over sevenfold in 2020-2021 compared to 2019-2020, the year COVID-19 began spreading across the globe.
Demand for ESG roles might continue to rise as more sectors incorporate the functions into their organisations and make sustainability and community relations a key part of their actions, the report noted.
The report is based on an analysis of data on Indeed platform from April 2019 to April 2022.
The positions posted on the Indeed job site varied from engineers and research analysts to consultants, the report noted.
ESG roles are most in-demand in sectors like healthcare and pharmaceuticals, banking, financial services and insurance (BFSI) and consulting sectors.
However, when it comes to catching up on hiring people in the ESG roles the top three sectors are mining, FMCG and manufacturing, the report stated.
The report further revealed that companies have now also started looking at specific qualifications in jobseekers for such roles, such as energy, environmental science, sustainable business management, and environmental studies, among others.
“As the concerns for Climate Change and the necessary mandates around ESG are growing all over the world, companies have now shifted their outlook towards environmental goals.
“In fact, it has become the governing principle to demonstrate future readiness, attract new investors and talent as well as build brand equity among consumers. Due to this, we are seeing an increase in demand for roles in the ESG and sustainability vertical, which is only likely to grow in the coming years,” Indeed India Head of Sales Sashi Kumar said.
Jobs in the ESG sector have grown over 468 per cent in the country in the last three years — between April 2019 to April 2022, he added.
The ESG job demand is also accelerating in other Asian nations, including in Malaysia where the number jumped tenfold in three years.
The same was witnessed in Singapore (257 per cent increase) and Hong Kong (442 per cent), the report added.