Sustainable investing boom and net zero pledges drive ESG talent war

According to consultants and recruiters, efforts to run the business more sustainably are driving the demand for professionals with environmental, social and governance expertise.

More than one-fifth of the world’s largest companies are somehow working to reach their goals. Net zero emissions Investors are paying more attention to the social impact of the companies they support, creating a boom in the professional market. Corporate sustainability..

“The point is that supply far exceeds supply, and there will be a real war over talent, which will include rewards,” said Russell Reynolds Associates, co-leader of sustainability practices for recruitment. One Sarah Galloway said.

Recruiters and executives say there is a growing demand for ESG professionals across professional services such as management consultants, boutique advisory firms and real estate firms.

However, as more companies and fund managers reduce carbon dioxide emissions and focus more on non-financial performance, they face intensifying competition to attract and retain ESG-focused staff. I will.

AstraZeneca, Aviva, BT, Legal & General, Rolls-Royce, Promise to achieve net zero Emissions by 2050.

Experts have also been invited by private equity funds to act as chief sustainability and ESG executives, but salaries vary significantly, recruiters said.

“Private equity has realized that without a very strong sustainability or ESG story, it is not possible to IPO a business. Therefore, they are all ESG or sustainable at a very advanced level. We hire a responsible person … to oversee their portfolio, “Gallowway said.

Deliveroo was “purely bombed for an ESG” S “,” she claimed. 26% plunge The stock price when the stock price of the food delivery app fluctuated in March. Some large investors Express concern Prior to a disastrous initial public offering, the treatment of group workers, and double-class stock listing and governance.

Private-equity buyers recognize that assessing ESG qualifications for future and existing investments is now essential, and a new ESG that analyzes client portfolios and potential acquisitions at Alvarez & Marsal. Julie Hertzberg, who heads the consulting business, said.

“At some point, many countries will have regulations that require reporting. [of ESG information]”Everyone knows it’s coming. This is a buildup for that,” said Hertzberg.

Even people who are skeptical of ESG are hiring experts, according to industry insiders. Even ESG sceptics are hiring specialists, those in the industry say. “Much of the market is still in a place where they are seeking the hygiene factor. They want the boxes ticked to be able to say, ‘hey, we’ve got an ESG strategy’,” said Stuart McLachlan, chief executive of environmental consultant Anthesis.

Rising expectations for auditors to scrutinize non-financial indicators as well as corporate accounting are driving the demand for new expertise in accounting firms that are recruiting and training auditors. I will.

“ESG metrics and reporting are rapidly becoming a business imperative, especially with increased investor oversight,” said Scott Knight, BDO’s Head of Audit. The fifth largest accounting in the UK. It is an office.

“I had no appetite when I evaluated this in the past, but the market is now evolving rapidly,” he added.

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