· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: The role of Chief Sustainability Officers (CSOs) is becoming increasingly complex and integral to company strategy
• CSOs now help build long-term strategies and serve as the public face of their firms, driven by mandatory climate reporting requirements and heightened consumer expectations
🔭 The context: Initially seen as minor roles focused on basic eco-friendly practices, CSOs are now key figures in corporate leadership, often reporting directly to CEOs
• The rise in regulatory demands, such as the EU’s climate-reporting targets, has expanded their responsibilities.
🌍 Why it matters for the planet: As sustainability becomes central to business models, CSOs play a crucial role in driving corporate efforts towards environmental stewardship, compliance, and transparency, impacting global sustainability practices
⏭️ What's next: The future will see even more stringent climate reporting regulations globally, necessitating CSOs to adapt and integrate sustainability deeply within corporate strategies
• New roles like ESG controllers may emerge to handle data and compliance, allowing CSOs to focus on strategic initiatives
💬 One quote: “The role has definitely evolved. It has become a more senior role, a more specialized role and a more strategic role,” said Wendy Dobson, senior managing director at FTI Consulting
📈 One stat: Roughly 183 public companies in the U.S. now employ a CSO, up from 29 in 2011, with over three-quarters sitting on the company’s leadership team
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