ESG: A Growing Career That Doesn’t Require Experience Offers Salaries Up to R$25,000 But Faces Shortage of Qualified Professionals

Even With High Salaries, Conscious Work and No Experience Requirement, ESG Career Still Needs Qualified Professionals

For some professionals who have been in the job market for a while, the ESG (acronym in English for Environmental, Social and Governance) is a well-known term, as the rapid progress of climate change and the increasing pressure to mitigate environmental impacts from various industries and manage corporate risks have made ESG increasingly relevant in the daily lives of executives and companies of all sizes and sectors.

For example, in Latin America alone, the number of companies that introduced some strategies related to ESG issues in their operations in 2022 reached 69%, up from 46% in 2021. The introduction of ESG strategies in companies resulted in a substantial increase in the job opportunities for professionals from various fields worldwide.

According to a recent report from the UK consultancy GlobalData, the job openings available to professionals looking to start their career in the ESG field increased by about 98% last year, in 2021, growing from 531 positions in May 2021 to approximately 1,049 positions in May 2022. Despite being a promising career with many benefits, the ESG field is still relatively new, where employers face a significant shortage of qualified professionals to fill the available positions. This labor shortage drives up the salaries offered.

Potential of the ESG Sector

With the growing prominence of ESG in companies, it is evident that the sector holds significant importance in the corporate world. Below are some insights highlighting the market potential, according to the Exame website:

• Today, the ESG sector is valued at approximately $35 trillion. Additionally, Bloomberg Intelligence predicts that this number will reach $53 trillion by 2025;
• In Latin America alone, approximately 40% of companies intend to increase their components for sustainability projects in 2022, according to a report released by SAP;

• In an interview conducted by BlackRock in early 2020, most respondents stated that they considered sustainable investment essential for their career development. Since then, the allocation of resources in ESG funds worldwide has been growing at an increasing pace;
• A study conducted by IBV (Institute of Business Value) that surveyed over 14,000 people in nine countries, including Brazil, shows that approximately 54% of consumers would be willing to pay a higher price for products from brands committed to reducing environmental impact in their production chains.

By analyzing these numbers, one can understand why the demand for ESG professionals continues to grow. Increasingly, hiring qualified professionals looking to start a career in the ESG field is crucial for the future of companies.

How to Start a Career in ESG

Numerous studies and information indicate that, at least for now, no substantial experience in ESG is necessary for professionals wishing to begin a career in the sector, although some companies require a certain level of specialization in ESG, such as short courses. Therefore, the absence of prerequisites may mean that, as long as they are willing to specialize in the subject, professionals from different educational backgrounds can turn to ESG as an opportunity to change careers and attain promising positions and salaries.