Green Jobs are Redefining the Workforce
In 2023, the job market saw massive changes due to technology and a push for sustainability.
Green jobs, which focus on helping the environment, have become more important than before. They are not just in new green industries like solar power but also traditional ones like construction.
Experts think the shift to green jobs could create up to 30 million new jobs. It is becoming one of the fastest-growing parts of the job market, according to reports. Even industries like oil and gas are looking for workers with green skills.
To keep up with these changes, workers need to learn new skills. More and more job postings are asking for green skills. Governments are helping by offering money for training programmes. For example, Hong Kong is giving $25 million to train people in green finance.
However, while green jobs are growing, jobs focused on ESG (Environmental, Social, and Governance) issues saw a decline in the US in 2023. This might be because of changes in how companies are hiring or labelling jobs.
For investors, this means there are big opportunities in green industries, but companies might struggle to find workers with the right skills. Workers need to keep learning new skills, especially as technology changes. And while green jobs are booming, other sustainability-focused jobs might be shifting or getting new names.
For more social and governance news
Source: UBS
