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Sustainability Specialist: In Russia, how much can you earn from ESG?
This mini guide is dedicated to the duties of an ESG professional, including the size of their salary and how you can get ahead in this professional field.
Therefore, in the quiz, you will discover case studies taken from the practices of ESG managers working at major companies - you can experience this profession for free today.
ESG is an acronym for "environmental, social, and governance." In reality, it means sustainable development of commercial activities and a responsible attitude towards the environment, the social responsibility of the company, and the quality of its management strategies. This concept is comprehensive and, therefore, intriguing. Today's employers highly value professionals who have experience working in this area. Guess how many of your friends are familiar with the principles of ESG and how to navigate it. Unfortunately, we believe you will only find a couple who are. This is the problem: the market is not ready to provide the experts that companies desperately need, and companies no longer have the time to wait.
Why? It is simple: governments are already implementing ESG assessments of businesses everywhere, forcing companies to become more aware and boost their social and environmental responsibility. The standards are fairly rigorous, and their compliance is strictly monitored. Thanks to this, products created by a company can gain more attention from potential buyers. They can expect a surge of interest from potential target audiences, eventually increasing profits. It is also important that potential ESG employees follow these principles to ensure that companies do not have a toxic corporate culture, which cannot but attract professionals who value these concerns. ESG is also about the transparency of company reporting, top management salaries, anti-corruption measures, and relations with shareholders.
You can find out if a particular company follows the principles of ESG through the independent ratings of Bloomberg or S&P Dow Jones Indices. Scores are allocated according to three standards corresponding to the letters E, S, and G, with a maximum score of 100. So, for example, those leading in the latest ratings are the Kering conglomerate, which owns Balenciaga, Gucci, and Yves Saint Laurent. This is because they have stopped using toxic plastics.
The responsibilities of an ESG Professional
What does a sustainability professional generally do? Below are some examples of their daily tasks.
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Data collection and analysis.
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Preparing recommendations for changing processes.
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Communicating with rating agencies.
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Preparing reports at the request of colleagues.
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Monitors the implementation of approved recommendations.
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Preparing applications for their participation in the competition of companies implementing ESG principles and participating in them.
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Creating materials for training employees and contractors.
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Creating materials for ESG projects.
Do you agree that it sounds quite simple? Corporate communications with a sprinkling of an agenda, right? Although, ESG specialists are now worth their weight in gold. An HR manager that knows how to communicate with different departments and conducts online courses for their staff will not be suitable for this position. You must know the standards, find solutions in the most challenging situations, manage several managers, and do it all simultaneously.
How much does a sustainability specialist earn?
You can apply for a monthly salary of 100 thousand roubles in Russia. You can be paid three times more if you are already working in the industry the company hiring you belongs to. If not, you can expect a salary increase about a year after you have started working for them. You can earn up to 400 thousand roubles monthly as a consultant with outsourced tasks. However, it helps if you can work hard, similar to consulting, where you can work a 12-14-hour day. If you become the head of an ESG department - you can expect to earn 400 thousand plus per month.
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