1231889 SIP myths you must know!

The drive to clean the environment is not only imperilling jobs – it is also creating new ones and in big numbers. The country’s transition to a green, clean economy is expected to add about 37 lakh jobs by 2024-25, The Economic Times has reported quoting a Green Industry Outlook report by TeamLease Digital, a technology professional services platform. The outlook report has stated that there are 1.85 crore jobs already in this sector.

Incidentally, renewable energy, environmental health safety, solar energy, corporate social responsibility and sustainability are the domains where skills are in need as the country seeks to eagerly make the transition to a clean economy.

Companies are looking for typical job profiles such as solar project managers, solar operation and maintenance technicians, wind energy engineers, biofuel process engineers, carbon analysts, sustainability consultants, PCB design engineers, e-waste managers and hydrogen project managers. These roles are supposed to be the greatest demand.

“Waste management, comprising e-waste, is estimated to see a rise in jobs by 20%, while the wastewater management sector is projected to grow by 16% (in terms of jobs) by FY25,” said Munira Loliwala, assistant vice-president of strategy & growth at TeamLease Digital.

The renewables are supposed to comprise 30% of the total roles. Next in line are jobs in green construction that would account for 18% of the jobs on offer and climate change would the third in line accounting for 15%. Companies are hiring fast across all sectors. As much as 37% of the revenue of giant L&T comes from green businesses. Its MD S N Subrahmanyan is personally leading the charge in green businesses. L&T would be hiring professionals in this domain and the number would be determined by its share in revenue, revealed head of corporate human resource C Jayakumar. “We have a huge thrust on the expansion in green business, which is linked to our hiring trend,” said Jayakumar.

The roles which this blue chip is looking out for are in design/design for sustainability as in green buildings, renewables, circularity, business development, R&D, project management, operation, ESG, sustainability and production. By 2025-26, L&T wants to raise the share of revenue from green businesses to 40%.
The institutes from where L&T is scouting for talent are IITs, IIMS, NITS, NICMAR. If need be, the company is also looking at the global market for appropriate skill sets.

Another sector where green skills are in demand is automobile which is at the forefront of the transition. For example, MG Motor India employs around 20% of its employees in green jobs. The company expects it to rise fast by 2030. Senior director of human resources at MG Motor India, Yeshwinder Patial, said, “India is witnessing a rapid surge in the demand for EVs, autonomous and connected cars, fostering demand for a skilled workforce.”

The TeamLease report identified the clean energy sector that encompasses energy, environment and water as a candidate for very fast growth – more than 36% — between 2023-24 and 2024-25. Solar energy and climate change segments would account for most of the jobs.

The National Green Hydrogen Mission is also expected to lead generation of environmentally friendly jobs. It is expected to clock a growth rate of between 2025 and 2030.