Environmental, social and governance (ESG) principles are increasingly reshaping the corporate landscape and India is no exception. From 2019 to 2023, ESG-related jobs surged by more than 223%, marking a major shift towards sustainable business practices. Sustainability-related roles continue to be among the fastest-growing jobs, according to LinkedIn. For example, in the United States, jobs such as environmental health and safety manager and sustainability analyst are among the top 10 fastest-growing jobs. This change is being driven by global climate concerns, consumer demands for ethical operations, and increased government regulation.
The growing importance of ESG can be attributed to the fact that it serves as a comprehensive framework for assessing a company’s environmental impact, social responsibility, and corporate governance. In India, companies are increasingly prioritizing sustainability in their business operations in line with global environmental goals.
Government focus on reducing emissions and promoting renewable energy is further accelerating ESG efforts. Companies are currently investing heavily in sustainable initiatives. This is evidenced by the rapidly growing demand for professionals who can help companies align with ESG goals, such as reducing carbon emissions, improving waste management, and ensuring ethical labor practices.
Career paths to explore in the ESG field
India’s ESG sector offers a variety of career opportunities across industries. This was explained by Pratham Barot, CEO and Co-Founder of Zell Education. Key roles include:
Sustainability Managers: These professionals are responsible for creating and managing sustainability programs within their organizations. They help ensure compliance with environmental regulations and reduce a company’s environmental impact. ESG Analysts: ESG analysts evaluate companies’ sustainability efforts and produce reports for investors looking to invest responsibly. Their work helps determine a company’s long-term environmental and financial sustainability. Governance and Compliance Specialists: These professionals focus on ensuring companies comply with ESG-related regulations. Their role is critical in helping businesses comply with legal standards while maintaining ethical practices. Sustainable Finance Expert: Creating a sustainable future requires an ‘all hands on deck’ approach, in which finance plays a key role. This is one of the features that helps fund and raise awareness of sustainability issues. Although there is no one formula for entering the sustainable finance profession, a degree in finance, environmental science, or a similar subject can provide a framework for success in the sustainability field. ESG Reporting and Compliance Specialist: Specialists in this role ensure that organizations comply with environmental, social, and governance standards. Produce ESG reporting, ensure regulatory compliance, manage ESG-related risks, and engage with stakeholders to increase transparency and accountability. Currently, ESG reporting frameworks are not streamlined by numerous national/international frameworks. This role therefore urgently fills such a gap. Impact Investment Analyst: Impact analysts evaluate investments for their social and environmental impact along with their economic return from an ESG perspective. They conduct due diligence, monitor ESG performance, and communicate results to stakeholders. This role requires strong analytical skills and knowledge of ESG standards.
The field also attracts professionals with backgrounds in law, finance, environmental science, and public policy. The rise in ESG-related jobs has led to competitive salaries, with entry-level positions starting at around 450,000 rupees per year and salaries for experienced professionals, especially in management positions, ranging from 1.2 million rupees to 30,000 rupees. It becomes.
Educational requirements and skills
Professionals entering the ESG field require knowledge in a variety of fields, including environmental science, economics, finance, and policy planning. The growing demand for ESG talent has led to the introduction of reskilling programs to enable professionals from a variety of academic backgrounds to transition into the field. Key skills include sustainability reporting, quantitative analysis, and a solid understanding of financial markets.
The continued shift towards sustainability is driving Indian companies to actively seek talent with these skills, especially as ESG becomes central to both corporate strategy and investor priorities. .
The road ahead for ESG in India
The rapid increase in ESG-related work reflects a broader global shift towards responsible business practices. As India continues to pursue green policies such as encouraging renewable energy and sustainable agriculture, the demand for ESG professionals is expected to further increase. Moreover, India’s commitment to achieving net-zero emissions by 2070 will undoubtedly continue to drive job creation in this sector. The ESG sector offers long-term career opportunities for professionals who are passionate about sustainability and corporate responsibility.
The job market for ESG professionals in India is not only thriving but evolving, offering a promising future for those seeking meaningful careers that contribute to both environmental protection and corporate success.
Publisher:
Divya Chopra
Publication date:
October 27, 2024
