Wotso turning towards a different job market
One of the interesting snippets we gleaned from a recent interview with Jessie Glew, one of the founders and managing director of a flex space provider, Wotso, was about how to be truly creative in how you meet the skills shortage.
His company essentially is based around hiring office space short term – and recycling office fit out in the process.
- Read more about innovative office recycling here
In a nutshell, the team has decided to snap up former hospitality workers and retrain them.
With just over 100 staff members, Glew said that while the team started with real estate staff, the trend is now hiring younger workers from 18 to 26 with experience in hospitality.
“We find it a little limiting to bring people in from a property background because this has become a hospitality business, and it can also limit our capacity because we have to re-educate around hospitality.
“We are now employing people from a hospitality background and bringing them across the business because hospitality is client-facing and service-oriented. They know how to deal with tricky situations, and when you have a community of companies with different demands, you want every day to go smoothly, and our on-site staff often have to bridge differences.”
Glew added that the company also partners with local builders to make and upgrade furniture, allowing builders to upskill.
“We give them a mandate, bring them to Sydney to show them our site so they can get an idea of what we mean by recycling and repurposing. Many of them enjoy recycling, and it helps stimulate that little part of the economy as well.
With 20 new staff hires and six new offices in 2023, Glew hopes the company will continue to increase its venues by five locations a year until it reaches 50.
IFC partnering with the Reserve Bank of Fiji
International Finance Corporation has partnered with the Reserve Bank of Fiji to develop a green finance taxonomy, encouraging more investment in climate-friendly projects and helping drive more inclusive and sustainable economic growth.
RBF claimed that the project will support the country’s climate mitigation, create more green jobs, and help the Fiji government achieve net-zero national emissions by 2050, which has already garnered support from the Australian government.
IFC will help the RBF integrate ESG standards into its financial market operations and encourage businesses and financial institutions to adopt them.
Judith Green, IFC’s country manager for Australia, New Zealand, Papua New Guinea, and the Pacific Islands, said, “While Fiji is one of the lowest emitters of carbon in the world, like other Pacific nations, it is bearing the brunt of the climate crisis, from rising sea levels to more frequent and more extreme weather.
“A robust private sector and deeper climate finance markets are crucial to supporting Fiji’s adaptation efforts and unlocking a sustainable future for the people of Fiji.”
RIAA releases latest responsible investment benchmark report
The latest Responsible Investment Benchmark Report has revealed that while financial markets in Australia embrace ESG and responsible investments, the rapidly rising standards mean some are being left behind.
Responsible Investment Association Australasia (RIAA)’s 22nd annual report claimed that 93 per cent of professionally managed funds are now managed by investors with public commitments to responsible investment, which involves funds worth $3.3 trillion.
The association concluded that the industry has hit a new state of maturity where ESG considerations are now deeply embedded in the Australian investment market.
The nation’s expected standards of practice have also lifted rapidly with increasing greenwashing guidance, standardisation of ESG product labelling, development of green taxonomies and formalised stewardship codes.
Estelle Parker, RIAA’s executive manager, said the shift was significant because it reflected a new level of commitment to responsible investment.
“Today, it is simply insufficient to claim a commitment to responsible investment without the evidence to back it up.
“These policy efforts and elevating industry standards have started to separate the leaders from the pack as a sign of a rapidly maturing and professionalising market.
Parker said that despite economic uncertainty and market volatility, the tremendous growth in capital supporting sustainability outcomes meant that it is now critical that the government seizes the opportunity to drive low carbon transition.
ISS ESG launches corporate rating survey
The sustainable investment arm of the Institute of Shareholder Services (ISS ESG) has just launched its inaugural ESG Corporate rating survey, calling for market feedback from institutional investors, public companies, academics, professional services firms, and all other interested industry players.
The survey covers topics relating to existing and emerging ESG issues and will help shape the future of ESG management, research, investment, and stewardship landscape.
The survey will also focus on environmental areas of interest, including climate change, freshwater use, biodiversity loss, regenerative agriculture, materials, and the circular economy.
Respondents will also be asked about their views on social topics such as labour, human rights, customer health and safety, and data protection and will also get some in-depth questions.
According to the organisation, the feedback will shape its global approach, international normative frameworks and foundations, voluntary disclosure standards, and regulatory regimes informing methodology.
The survey results will also influence ISS ESG’s Corporate Rating.
Bonnie Saynay, Global Head of Research at ISS ESG, said, “We believe this approach enhances the continuing value and relevance of our methodology, processes, and the service we deliver to investor clients globally.”
Those with 20 minutes to spare can access the survey here.