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Key Impact Points:
- Over two-thirds of global CEOs integrate ESG into value creation.
- The CSO is crucial for navigating ESG transformation.
- Key skills for a CSO: understanding, connecting, and communicating.
The KPMG 2023 CEO Outlook highlights the growing importance of sustainability in business. More than two-thirds of global CEOs have fully integrated ESG (Environmental, Social, and Governance) into their strategies to create value. The Chief Sustainability Officer (CSO) plays a pivotal role in this transformation.
Strategic Role of the CSO Today’s CSOs focus on strategic roles rather than just representation. They drive sustainable transformation, a fundamental, long-term change process across all company levels. To succeed, CSOs need three key skills: understanding, connecting, and communicating. “The ideal CSO needs a comprehensive set of knowledge and skills,” emphasizes the report.
Agent of Change The CSO is positioned as the “Agent of Change,” making critical decisions with the Management Board, including Chief Officers for Finance, Operations, Innovation, Technology, Information, and Human Resources. This role is essential for the next five to ten years as companies navigate ESG challenges.
Related Article: Standard Chartered, KPMG, UN Body Launch Roadmap to Boost Climate Adaptation Funding
Empowering the CSO Companies must establish a robust ESG or sustainability position. Providing the CSO with authority, creative competence, and resources allows them to fully utilize their superpowers within a supportive team and alongside the CEO.
For more insights, read the full KPMG report on the three superpowers of the CSO.