A report by the Government’s Expert Group on Future Skills Needs released earlier this year warns that the Ireland’s international financial services sector could experience a shortfall of between 800 and 4,300 suitably qualified graduates annually by 2027, with many of these vacancies occurring in green and sustainable finance.
We asked experts what skills and qualifications are most sought in green and sustainable finance; what kind of career opportunities are on offer; and what should be done to ensure that the area’s growth is not constrained by skills shortages.
First off, what is green and sustainable finance?
It’s a critical element in transitioning to a low-carbon and inclusive economy, says Sean MacHale, EY Ireland financial services sustainable finance leader.
“It encompasses the funding and financial services aimed at supporting sustainable development goals by integrating environmental, social, and governance (ESG) factors into decision-making,” he explains.
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“At its core, green finance specifically focuses on projects and initiatives that are environmentally beneficial, such as renewable energy, energy efficiency and biodiversity preservation. Sustainable finance, on the other hand, takes a broader approach, incorporating the ‘social’ and ‘governance’ pillars, ensuring investments also promote ethical labour practices, human rights and effective governance. This domain not only helps mitigate climate change but also strengthens resilience against environmental and social risks.”
A growing industry
The need to mobilise green and sustainable financing is growing rapidly as regulators, governments and investors are committed to spending capital on renewable assets and transitioning to net zero by 2050, says Jennifer Kernan, AIB climate capital director.
“Addressing climate change requires significant funding and investment, especially as ESG regulation continues to emerge and develop, which requires all facets of society and business to transition to a greener future,” says Kernan.
“In Ireland, we have all become very familiar with seeing wind farms dotted across the country and whilst they still make up a good part of our green lending in AIB Climate Capital, we now get to support a much wider variety of renewable projects – whether that be solar, battery storage or waste-to-energy plants – and that’s before we get to the significant number of offshore wind farms coming down the tracks.”
There are also the less obvious green finance projects, such as those that improve grid infrastructure – these are key to increasing renewable energy production and access to sustainable, secure electricity generation, says Kernan.
MacHale agrees that the sustainable finance industry in Ireland is growing rapidly. “We know that Ireland is well positioned globally as a financial hub and we’re now seeing this reputation extending into the green and sustainable finance space,” he says.
“Ireland’s commitment to climate action through policies like the Climate Action Plan, combined with its attractiveness as a base for international financial services, has driven the growth of sustainable finance. There’s huge scope for more growth here.”
Greener career paths
In terms of skills, Kernan says she looks for candidates who are critical thinkers and eager to learn in a fast-moving industry. “Roles typically require candidates to wear multiple hats and be able to navigate between financial, technical and legal due diligence,” she says. “Navigating financial models is another important element of a role in climate capital.
“Typically, we are seeking candidates with a relevant degree such as business, engineering or someone open to upskilling in this area. More broadly, a key factor in considering any candidate is their genuine interest in the renewable and social infrastructure sectors.”
Being part of a team that contributes to the roll-out of renewable energy and social infrastructure is very rewarding, says Kernan. It’s extremely satisfying to see projects get built and enter into operations,
MacHale says certifications such as the CFA ESG Investing Certificate, Global Association of Risk Professionals (GARP) Sustainability and Climate Risk Certificate, and specific sustainability-focused MBAs will add significant value to the market.
“Demand for talent in sustainable finance is evolving rapidly,” he says. “And this is not limited to the Irish landscape. The financial services sector globally is upskilling massively in this area. We compete for talent globally and have team members from many different nationalities across each continent all based in Dublin.”
Ireland’s green opportunity
Ireland’s sustainable finance sector is poised for significant growth but its evolution is closely tied to global dynamics, says MacHale. “The EU’s leadership in sustainable finance regulation is a key factor, particularly with initiatives like the EU taxonomy [for sustainable activities] and the SFDR. Staying aligned with these regulatory advancements will be crucial for Ireland’s competitiveness.
“Sustainable finance is no longer just a niche area. It’s becoming mainstream as investors, regulators, and the public demand transparency and accountability. For anyone looking to enter this field, this moment offers a unique opportunity to be part of shaping the future of finance in Ireland.”