The importance of ESG
ESG stands for environmental, social and governance and refers to the three key categories that companies use to assess their sustainability and social impact. Environmental aspects refer to a company's environmental footprint, social aspects cover issues such as working conditions, diversity and inclusion, while governance focuses on corporate management and transparency. Integrating ESG criteria into business strategy is crucial to ensure long-term success while having a positive impact on society and the environment.
ESG is changing the world of work. Read all about the impact on companies and staff here ->How the ESG regulation is changing companies and staff
New job profiles as a result of the ESG Regulation
The new requirements and changes in the world of work are giving rise to new tasks and areas of activity, which in turn result in new job profiles. A distinction is made between three central directions:
- Business management professions
- HR professions
- Environmentally conscious professions
People who are trained in one or more of these professions will therefore benefit from the ESG Regulation because it will increase their market value. But what exactly are the specific jobs that will become vacant as a result of ESG?
Business management professions
The professions of ESG analysts and ESG compliance specialists have become established in the business management sector.
1. ESG analysts: ESG analysts play a crucial role in assessing the ESG performance of companies. They analyze data, assess risks and opportunities related to ESG factors and produce reports that help investors, companies and regulators make informed decisions. These professionals have knowledge of finance, environmental science, sociology and corporate governance.
2. ESG compliance specialists: ESG compliance specialists support companies in complying with legal regulations and guidelines related to ESG. They review internal processes, conduct training to raise awareness of ESG policies and ensure that the company is compliant. These professionals have a deep understanding of legal frameworks and ESG standards.
HR professions
In the second area, in HR, there is the profession of social and diversity officer.
3. Social and diversity officers: With the growing awareness of social justice and diversity in the world of work, the role of social and diversity officers is becoming increasingly important. These professionals advocate for inclusive work environments, promote diversity and equal opportunity, and develop employee retention and development programs. They play a critical role in creating a corporate culture that promotes diversity and inclusion. This role is typically filled by HR professionals with work experience and/or knowledge of employer branding and strategic workforce development.
Environmentally conscious professions
Finally, there are also professions for the environment and sustainability. Specifically, we are talking about the sustainability manager and the climate and environmental protection officer. These jobs are particularly suitable for graduates of degree programs at Boku.
4. Sustainability managers: Sustainability managers are responsible for the development and implementation of sustainability strategies in companies. They identify areas where the company can improve its ESG performance, set targets and monitor progress. These professionals work closely with various departments to promote sustainable practices and minimize the environmental footprint.
5. Climate and environmental officers: With the increasing threat of climate change, climate and environmental officers are more in demand than ever. These professionals develop and implement strategies to reduce the environmental footprint of companies, monitor environmental impacts and implement measures to adapt to climate change. They work closely with various stakeholders to develop sustainable solutions and comply with environmental standards.
Institutions such as the Controller Institute or the University of Applied Sciences of the BFI Vienna offer helpful further training for ESG personnel for the business management sector or the WIFI for the environmental branch.
