Climate change: Hong Kong to pay 30 per cent more for ESG jobs as companies fight for talent to meet sustainability targets

‘There is a massive skills gap in this space globally, especially in Hong Kong,’ one recruiter says

Skills and knowledge of ESG reporting and carbon emissions are in high demand as all Hong Kong-listed companies face reporting requirements

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Commercial buildings stand on Hong Kong Island on October 28, 2022. Photo: Yik Yeung-man

Published: 9:30am, 26 Jan 2023

Environmental, social and governance (ESG) jobs in Hong Kong could command salary premiums of more than 30 per cent as companies strive to meet their sustainability targets and tackle climate change, according to headhunters.

With increasing demand for ESG and sustainability expertise in Hong Kong, local talents can expect salary increments of over 30 per cent when switching jobs, while those relocating to the city from overseas can expect even higher salary increases and potential expat benefits, according to recruitment agency Hays.

“There is a massive skills gap in this space globally, especially in Hong Kong,” said Sue Wei, managing director of Hays Hong Kong. “The push for ESG and sustainability talent will continue in the new year.”

All of the nearly 2,500 Hong Kong-listed companies are required to publish annual sustainability reports on their ESG performance alongside mandatory periodic financial reports.

Pedestrians cross a road in the Central district of Hong Kong, in 2017. Photo: Bloomberg

There has been “aggressive hiring” of ESG and sustainability talent from the big four accounting firms as well as management consulting firms who have been looking to fill the gap from the lack of in-house talent at companies in Hong Kong, according to Paddy Balfour, executive director of Asia for sustainability recruitment firm Acre.

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