Internship: Commerce, Accounting and Finance Internship
Position: Commerce, Accounting, and Finance Intern (Sustainability Focus)
Location: Remote
Duration: One Month, Two months, Flexible
Company: Earth5R
Role Overview: As a Commerce, Accounting, and Finance Intern, you will have the unique opportunity to integrate sustainability principles into commerce practices. You will be part of a team working on sustainable finance, sustainability accounting, and other cutting-edge practices in the commerce domain.
Responsibilities:
Domain Related Activities: Financial analysis, ESG and Sustainability Accounting, ethical investment research, sustainability reporting.
Content Writing: Write informative and engaging content on sustainable commerce, accounting, and finance topics.
Community Development: Participate in initiatives to build and foster a community focused on sustainability in commerce.
Training: Conduct or assist in online training sessions on sustainable commerce, accounting, and finance practices.
Online Research: Conduct research on the latest trends and developments in sustainable commerce, accounting, and finance.
Qualifications:
- Studying/ studied Commerce, Accounting, Finance, or related field.
- Strong interest in and understanding of sustainability and environmental issues.
- Excellent written and verbal communication skills.
- Ability to work independently and manage multiple tasks.
- Familiarity with commerce, accounting, and finance principles.
Benefits:
- Gain hands-on experience in the emerging field of sustainable commerce, accounting, and finance.
- Opportunity to contribute to various sustainability initiatives.
- Work with a diverse, globally-minded team.
- Flexible work hours to accommodate your academic schedule.
- Unpaid
- Certificate of Completion
- Letter of Recommendation (LOR) – for exceptional performers
Interested candidates are invited to apply via this link
Why this Internship?
Sustainability is becoming an increasingly vital element in the commerce, accounting, and finance domain. Here are a few of the applications:
Sustainable Finance: It refers to any form of financial service integrating environmental, social, and governance (ESG) criteria into the business or investment decisions. This can include green bonds, sustainable investing, impact investing, and socially responsible investing.
ESG and Sustainability Accounting: Also known as environmental, social, and governance (ESG) accounting, this involves incorporating social and environmental costs and benefits into the accounting process.
Carbon Accounting: Businesses are increasingly tracking their carbon emissions and offsetting them by investing in renewable energy or other carbon-neutral initiatives.
Climate Risk Assessment: Financial institutions are factoring climate risk into their risk assessments and investment strategies. This can involve analyzing the potential financial impact of climate change on a company or investment.
Green Banking: Banks are increasingly offering green banking products and services such as green mortgages and loans, eco-checking accounts, and paperless banking.
Sustainable Supply Chain Finance: This involves giving favorable terms to suppliers who meet certain environmental, social, or governance (ESG) criteria.
Sustainable Commerce, Accounting and Finance opportunities in India:
India, with its booming economy and vast population, is at a crucial juncture where the principles of sustainability are intersecting with traditional sectors like finance, commerce, and accounting. As these sectors modernize and evolve, sustainability is becoming an essential pillar. Here’s why:
Risk Management amid Climatic Vulnerabilities:
India, given its geographical diversity, is highly vulnerable to the adverse impacts of climate change, ranging from melting Himalayan glaciers to rising sea levels affecting its coastal cities. For instance, the floods in Kerala in 2018 caused losses of over ₹31,000 crore. Financial institutions are now recalibrating risk assessments to account for such environmental disruptions, making sustainability knowledge crucial.
Regulatory Push and Green Finance:
The Securities and Exchange Board of India (SEBI) has been proactive in mandating certain classes of companies to disclose their Environmental, Social, and Governance (ESG) initiatives. This drives the need for accountants and auditors who understand these new reporting standards. Furthermore, India’s green bond market reached $7.15 billion in issues till 2019, underscoring the growth and relevance of sustainable financial products.
Consumer Demand and Sustainable Commerce:
Indian consumers are becoming increasingly eco-conscious. A Nielsen survey indicated that 73% of Indian respondents felt positively about companies committed to sustainability. Brands like Patanjali have harnessed this shift, emphasizing natural and eco-friendly products to achieve meteoric growth.
Operational Cost Efficiencies:
With the increasing costs of utilities in India, businesses that adopt sustainable practices, like energy efficiency or waste reduction, often report significant savings. For example, the Infosys campus in Hyderabad is a testament to this, reducing its water consumption by 50% through rainwater harvesting and efficient plumbing systems.
Innovations in Financial Products:
Sustainable finance is on the rise in India. Products like green mutual funds are being introduced, catering to an audience that wants to invest in companies practicing sustainable business models. For instance, Tata Mutual Fund launched a dedicated ESG fund, focusing on companies with sustainable practices.
Global Trade and Commerce:
As India continues to be a significant player in global trade, compliance with international sustainability standards becomes paramount. Companies looking to export goods or services often need to meet specific environmental or social criteria. A case in point is the textile industry in Tirupur, which after facing a significant environmental crisis, adapted sustainable practices, leading to both ecological and economic revival.
Microfinance and Inclusive Growth:
In India, microfinance institutions like SKS Microfinance are channeling funds to sustainable grassroots ventures, promoting eco-friendly livelihoods, from organic farming to renewable energy solutions. This not only promotes sustainability but also fosters financial inclusion.
In conclusion, sustainability in finance, commerce, and accounting isn’t just a trend but a necessity for India. As the country grapples with challenges ranging from environmental degradation to socio-economic disparities, professionals in these sectors have a pivotal role to play. By integrating sustainable practices and knowledge, they can steer India towards a future that promises both economic prosperity and ecological balance.