The lack of green talent and skills is preventing many companies from achieving their net zero goals, according to a new study.
The demand for green jobs and skills continues to accelerate rapidly, with 70% of employers globally reporting they are currently recruiting or planning to actively recruit for these roles, according to ManpowerGroup’s latest Global Insights report, The Greening World of Work 2023 Outlook.
Key findings from the research, which forms part of ManpowerGroup’s ‘People First Green Transition’ initiative, reveals that 55% of business leaders predict investments in green business transformation; and ESG will surpass technology and other megatrends as the primary job creators in the next five years.
GREEN JOB SURGE
The transition is expected to result in a green job surge, creating up to 30 million new green jobs globally by 2030. In fact, there is significant interest to recruit green talent within manufacturing and production (36%), and operations and logistics (31%) across a spectrum of industries.
This interest also extends to domains like IT and data (30%), sales and marketing (27%), engineering (26%), administration and office support (25%), and HR (25%).
UPSKILLING WORKFORCE FOR THE GREEN ECONOMY
Despite this wave of demand, 94% of companies acknowledge a lack of talent needed to meet their ESG goals. To address this challenge, substantial investments in training and development will be needed to upskill the workforce for the green economy, according to the report.
The report also highlights that within the last year, 49% of global consumers opted to pay a premium for sustainable products. Notably, it’s the Gen Z demographic that takes the lead in demonstrating a strong preference for sustainability, with 75% of Gen Z individuals saying when it comes to making purchases, prioritising sustainability outweighs brand considerations.
Lastly, Government incentives, such as the European Union’s €225 billion Green Deal Industrial Plan and the United States’ Inflation Reduction Act providing $369 billion for clean energy, are galvanising businesses to adopt net zero commitments, noted the report. As a result, the research reveals that 58% of Fortune 500 CEOs have now set ambitious net zero emissions targets; a significant increase from 36% in 2021.
DOUBLING DOWN ON GREEN GOALS
“The green transition is rooted in having a skilled workforce. That’s why, ahead of Climate Week, we are calling for companies to prioritise their people as they double down on their green goals,” said Ruth Harper, ManpowerGroup’s Chief Sustainability Officer. “Our new data reveals many roles, from logistics to fashion, will be impacted by the greening of jobs. There is an urgent need for employers to rethink how they hire, train, retain, and engage green talent to gain a competitive edge. The time for action is now.”
ManpowerGroup will also presenting its findings this week, 17-24 September 2023, during Climate Week NYC, in partnership with the United Nations General Assembly, in coordination with the United Nations and the City of New York. Click here for more information about the report.
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