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ESG Consulting – Market Snapshot

Growing investor appetite for Environmental, Social, Governance (ESG) investments and financing, alongside new ESG financial reporting regulations, has been the impetus for the increase in the breadth of opportunities for financial services focused advisory firms – here is snapshot of the current ESG risk hiring market:

  • ESG advisory market has seen unprecedented growth – despite the outbreak of Covid-19 in early 2020 negatively affecting employment and the financial markets.
  • Currently the market is candidate driven at Senior Manager level & below – Partners and Directors were the initial priority hires across the top seven firms as well as boutiques. 
  • Candidates are receiving multiple offers – an offer with a salary package paying above market rate will not necessarily secure the chosen candidate. The new employer also must show and prove significant investment into the ESG function, and show it is a prime cultural consideration for the given organisation.
  • Increased appetite for climate risk talent across banking & consulting firms – driven by the bi-annual Bank of England’s climate stress tests.
  • Companies are offering to pay for Sustainable Finance & ESG qualifications – to gain an edge to  attract emerging talent. Desirable certifications include: The CFA Institute Certificate in ESG Investing, and MSc in Sustainable Finance.
  • Climate Change & ESG functions are nascent for Private Banking (PB) – the race to hire future leaders and ESG professionals within PB has begun, and candidates with this experience will be in a very good position to dictate salary and the PB’s operating strategy.
  • For ESG reporting positions Taskforce on Climate-Related Financial Disclosures (TCFD) is now a must have – and any Taskforce on Nature-Related Financial Disclosures (TNFD) exposure is highly desirable and will further drive-up salaries.
  • There is an emergence for ESG transformation resources to service new banking operating strategies – driven by the advisory firm’s client implementing a more ESG and climate aligned objective.

As recruitment market experts we are here to support businesses as they adapt to the changing environment, evolving sustainability legislation and societal expectations.

If you would like more information on current compensation levels for ESG roles, or you would like to discuss ESG recruitment, please do contact Alex.

Alex Bayne-Powell – Senior Associate, Danos Associates                       
T: +44 (0) 20 7610 6442  E: