With recent more radical climate changes, that impacting safety, well-beings and economies globally. Involvement towards fulfilling the Environmental, Social, and Governance (ESG) goals is growing important.
With companies and investors increase recognizing the importance of ESG factors in business decision-making and compliance needs, the market for ESG talent is growing rapidly.
Furthermore, approximate 2600 listed public companies in HK are required to issue sustainability reports by regulator next year. According to Big 4 consulting partner EY HK & Macao, Tan stated that if we don’t have enough talents, we wouldn’t be able to execute all these different ESG plans.However, the major barrier that prevent companies to adopt ESG practices mainly is the cost (45%), and talent shortage (35%) as were reported by SCMP earlier this year. Thousands of companies facing immediate urge on where to get sufficient talents to support their ESG initiatives and reporting, not to mentioned other organisations leaving behind without drives and know-hows where to begin.
According to Manpower Group Hong Kong reported in Q2 2023, 85% Hong Kong employers are facing talent shortage and recruitment challenges, which is expected to grow over at least in the next 2 years. HSBC’s local chief executive, Luanne Lim, mentioned ESG-related job postings surged by more than 600% to over several thousands last year, which causing a big challenges for Hong Kong to be a Sustainability Hub, despite companies, government and huge
