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Carbon job market booming but talent pool is dry
Michael Szabo, November 14, 2007 (Reuters via Yahoo News)

WHO
Job candidates and companies involved in the rapidly evolving carbon trading industry.

A snapshot of the carbon trading explosion from Reuters. (click to enlarge)

WHAT
The market is evolving quickly and good jobs requiring high level skills and offering good remuneration are going unfilled.

WHEN
The industry’s job market is predicted to be 50 times its present size by 2012.
Specialist jobs tripled in the financial year 2006/07.

WHERE
London is nominal center of the global carbon industry but fast developing countries in Asia, Africa and Latin America quickly growing projects and trading market needs.
One British bank with 315,000 employees around the world, HSBC, has had to recruit outside analysts for its new Climate Change Centre of Excellence in Bangalore.

WHY
- Senior level carbon market positions, like managing director, with base salaries around 150,000 pounds ($310,500) and compensation packages of as much as $1 million, are going unfilled for up to 6 weeks.
- Specialist vacancies: climate change analysts, managers, and carbon traders
Average industry wage is approximately 43,000 pounds ($89,010).
- Global carbon trading came out of the UN Kyoto Protocols and the European Union Emissions Trading Scheme (ETS). Nations and businesses/industries in those nations are allotted a specific emissions level. If they need to emit more to do business they must buy credits either from a business/industry that can do business with fewer than their allotment or from a project certified to cut world emissions like a clean energy project or a reforestation project.

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QUOTES
Mark Tomlinson, director, London-based executive recruiter DNA Search: "The more junior roles, analysts or carbon project originators for example, starting around 60,000 pounds ($124,200) are being left vacant for two to three months…"
Robert Ashdown, PricewaterhouseCoopers: "There's a real shortage of talent in South Africa…Our (projects) team has doubled in the past three months... so we've had to start looking internationally to bring people in."