Jobs in the environmental, social, and governance (ESG) sector have grown over 468% in India in the past three years, between April 2019 to April 2022, shows a new research released today by global job site Indeed.
The most significant increase in demand happened in the past year, between April 2021 and April 2022. The number of job posts grew 154% compared to the previous year when the expansion of these roles was 97%, as per the research.
The positions advertised varied from engineers, and research analysts to consultants. Healthcare & pharmaceuticals, BFSI and Consulting sectors indicate hiring the most when it comes to ESG roles. Mining, FMCG and manufacturing sectors are yet to catch up. Companies have now also started looking at specific qualifications in jobseekers for such roles. This includes degrees in fields like energy, environmental science, sustainable business management, environmental studies etc.
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 really taken off during the pandemic. Demand for ESG roles grew over sevenfold in 2020 - 2021 as compared to 2019 - 2020, the year COVID - 19 started 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.
While companies are prioritising sustainability initiatives, it is also interesting to note that such efforts can play an important role in the evaluation of a potential job by jobseekers.
“With growing concerns of climate change and the necessary mandates around ESG, companies have now shifted their outlook towards environment goals. Infact, 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,” noted Sashi Kumar, head of sales for Indeed India.
The ESG job offers are accelerating in other Asian nations too. In Malaysia, the number jumped ten-fold (986% growth) in three years. The same happened in Singapore (257% increase) and Hong Kong (442% rise).
Indeed's research also shows that the rise in jobs has been steadily growing across all nations with very little sign of deceleration.