Addressing the green talent shortage

NATIONS around the world have made pledges towards ambitious climate targets within the next decade. In Singapore, efforts have been accelerated to achieve targets in the Singapore Green Plan 2030. As a result, various government bodies and private companies have also made commitments towards the green transition. For instance, the Monetary Authority of Singapore has launched a Finance for Net Zero (FiNZ) Action Plan to mobilise financing to catalyse Asia’s net-zero transition and decarbonisation activities. All these activities are geared towards the “green economy”, one of the key growth engines driving a host of changes to existing jobs and skills today.

As businesses integrate sustainability into their operations to leverage the opportunities brought on by the “green transition”, they will require “green skills” to successfully implement these strategies. In addition, new jobs will emerge and existing jobs will be redesigned to lead sustainable practices with targets for compliance and reporting regardless of industry or role. According to the Ministry of Sustainability and Environment, more than 55,000 jobs are projected to be created or redesigned in Singapore over the next 10 years.

Demand outpacing supply

However, the demand for talent far outpaces supply. Insights from LinkedIn noted an 8 per cent growth in job postings requiring green skills over the past five years, but only a 6 per cent growth in green talent in the same period globally. The demand for future green skills will continue to grow significantly. The International Labour Organization forecast 14 million green jobs will be created in Asia-Pacific by 2030. At the same time, various inequalities – in terms of gender, education and income levels, to name a few – make the green transition harder, especially among developing nations in Asia-Pacific.