India to create 7.29 million green jobs by FY28, 35 million by 2047: Report
Mumbai: India's green economy is growing rapidly and is expected to reach a value of $1 trillion by 2030, and a staggering $15 trillion by 2070, a new report said on Monday.
With this massive growth, India is also set to create a huge number of green jobs -- around 7.29 million by the financial year 2027-28 and 35 million by the year 2047, according to a NLB Services report.
NLB Services CEO Sachin Alug said: "In the past 4–5 years, we've seen green jobs evolve from niche roles to mainstream opportunities across renewable energy, EVs, and sustainable infrastructure. What's changed pragmatically is the skillsets."
"Today's green workforce needs both sustainability know-how and digital fluency, and the increased integration of AI, IoT, blockchain, GIS, and data-driven tools are laying the foundation for progressive, new-age green careers," Alug mentioned.
As the green sector expands, industries are not just investing in green technology and renewable energy, but also focusing on building a skilled workforce to meet the rising demand.
This shift is driving companies to change their hiring strategies. Rather than relying only on traditional degrees, employers are now giving more importance to practical green skills and hands-on experience.
Many companies are also working closely with colleges and universities to equip young people with sustainability-related skills, while also investing in inclusive hiring and re-skilling programmes, the report stated.
The new employment outlook is stronger than earlier predictions. In 2024, the green sector was expected to grow at a pace of 15–20 per cent annually in terms of job demand.
However, new estimates show an even faster increase, especially in fields like renewable energy, electric vehicles, green construction, waste management, and sustainable textiles.
Most green jobs are still based in big cities like Mumbai, Bengaluru, and Delhi. But smaller cities such as Jaipur, Indore, Visakhapatnam, Coimbatore, Bhubaneswar, Chandigarh, and Ahmedabad are also becoming key green job hubs.
Tier II and Tier III cities are expected to create 35-40 per cent of the projected 7.29 million jobs by FY28, helped by the growth in sustainable agriculture, logistics, and warehousing, as per the report.
Green job roles are also becoming more diverse. Demand for professionals in areas such as ESG (Environmental, Social and Governance) analytics, climate data analysis, and green technology is growing fast, with a projected 20–30 per cent yearly rise.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
a day ago
- Business Standard
Sebi comes out with operational framework for ESG debt securities
Markets regulator Sebi on Thursday came out with an operational framework for issuance of social bonds, sustainability bonds and sustainability-linked bonds, which together will be known as Environment, Social and Governance (ESG) debt securities. This will help issuers to raise money for more sustainable projects, assisting in closing the funding gap for the Sustainable Development Goals. In its circular, Sebi said the debt securities will be labelled as 'social bonds' or 'sustainability bonds' or 'sustainability-linked bonds' only if the funds raised through the issuance of such debt securities are proposed to be utilised for financing or refinancing projects. The regulator has addressed the initial and continuous disclosures for sustainable securitised debt instruments that would be based on international frameworks. Initial disclosures would be made in the offer document for the securities, while continuous disclosures would be included in annual reports or other mandated formats. Sebi said that an issuer desirous of issuing social bonds will have to make additional disclosures in the offer document for public issues or private placements. These included social objectives of the social project, brief details of the decision-making process followed for determining the eligibility of projects, details of the procedures to be employed for tracking the deployment of the proceeds and details of an indicative estimate of distribution of proceeds between financing and refinancing of projects. In case of refinancing, details of the existing debt are proposed to be refinanced, including the amount outstanding. The issuer is required to appoint an independent third-party reviewer/ certifier to ascertain that the ESG-labelled debt securities are in alignment with any of the recognised standards. An issuer desirous of issuing sustainability bonds will have to comply with the provisions specified for green debt security. An issuer of social bonds or sustainability bonds will have to ensure that all projects funded by the proceeds of such securities meet the objectives of social bonds or sustainability bonds and utilise the proceeds only for the stated purpose, as disclosed in the offer document. "Certain social projects may also have environmental co-benefits, and that certain green projects may have social co-benefits. The classification of a debt security as a green debt security, social bond or sustainability bond should be determined by the issuer based on its primary objectives for the underlying projects," Sebi said. While raising funds for social objects or sustainability objects, an issuer will have to continuously monitor to check whether the form of operations undertaken is resulting in reduction of the adverse social impact or sustainable impact, as envisaged in the offer document. The framework will come into force for issuances of ESG debt securities with effect from June 5, 2025.
Economic Times
a day ago
- Economic Times
Sebi issues new ESG debt framework to regulate social, sustainability, and linked bonds
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel To encourage responsible finance and curb "purpose-washing," capital markets regulator Sebi has released a detailed framework for issuing and listing ESG (Environment, Social and Governance) debt securities, excluding green new norms, which came into effect on June 5, aim to enhance transparency, credibility, and accountability in the ESG debt to Sebi, ESG debt securities will now include three major categories apart from green bonds — social bonds, sustainability bonds , and sustainability-linked bonds . These instruments must follow recognized global standards such as the ICMA Principles, Climate Bonds Standard, ASEAN Standards, or any methodology notified by Indian financial bonds are meant to raise money for projects with a direct social impact, such as affordable housing, clean water, education, or food security. Sustainability bonds combine both environmental and social objectives, while sustainability-linked bonds are performance-based instruments, where the financial terms are tied to the issuer's achievement of pre-set sustainability of such bonds will need to make detailed disclosures before and after the issue. They must outline the specific projects they intend to fund, explain how they will track fund usage, and appoint independent third-party reviewers to verify claims. Post-listing, companies must share impact reports, usage of proceeds, and KPIs in their annual reports. This is aimed at curbing the misuse of ESG labels — known as 'purpose-washing' — where companies falsely claim to be funding ESG has also made it clear that companies listed on SME platforms and looking to issue ESG debt will need to follow bi-annual disclosure norms, as specified in the circular's annexures. The regulator has empowered ESG rating agencies and certified reviewers to ensure proper assessments of bond impact and target if any ESG funds are found misused or the projects do not align with their stated purpose, companies may be forced to redeem the securities regulatory push comes at a time when ESG investing is gaining traction in India. By aligning local frameworks with international norms, Sebi aims to build investor confidence and deepen India's ESG debt market responsibly.
Time of India
a day ago
- Time of India
Sebi issues new ESG debt framework to regulate social, sustainability, and linked bonds
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel To encourage responsible finance and curb "purpose-washing," capital markets regulator Sebi has released a detailed framework for issuing and listing ESG (Environment, Social and Governance) debt securities, excluding green new norms, which came into effect on June 5, aim to enhance transparency, credibility, and accountability in the ESG debt to Sebi, ESG debt securities will now include three major categories apart from green bonds — social bonds, sustainability bonds , and sustainability-linked bonds . These instruments must follow recognized global standards such as the ICMA Principles, Climate Bonds Standard, ASEAN Standards, or any methodology notified by Indian financial bonds are meant to raise money for projects with a direct social impact, such as affordable housing, clean water, education, or food security. Sustainability bonds combine both environmental and social objectives, while sustainability-linked bonds are performance-based instruments, where the financial terms are tied to the issuer's achievement of pre-set sustainability of such bonds will need to make detailed disclosures before and after the issue. They must outline the specific projects they intend to fund, explain how they will track fund usage, and appoint independent third-party reviewers to verify claims. Post-listing, companies must share impact reports, usage of proceeds, and KPIs in their annual reports. This is aimed at curbing the misuse of ESG labels — known as 'purpose-washing' — where companies falsely claim to be funding ESG has also made it clear that companies listed on SME platforms and looking to issue ESG debt will need to follow bi-annual disclosure norms, as specified in the circular's annexures. The regulator has empowered ESG rating agencies and certified reviewers to ensure proper assessments of bond impact and target if any ESG funds are found misused or the projects do not align with their stated purpose, companies may be forced to redeem the securities regulatory push comes at a time when ESG investing is gaining traction in India. By aligning local frameworks with international norms, Sebi aims to build investor confidence and deepen India's ESG debt market responsibly.
