ESG
“ Leading CSOs are now incorporating economics , policy , geopolitics , and corporate affairs into their remit , advising CEOs not only on potential impact to business , but also on advantages and benefits that may be gleaned ”
STEVE VARLEY GLOBAL VICE CHAIR SUSTAINABILITY , EY
Where does this leave the Chief Sustainability Officer ? One person who has insightful views on this question is Steve Varley , the Global Vice Chair – Sustainability at Ernst & Young . He laid bare for us some of the conversations that CSOs ought to be having with CEOs as we all navigate these economic headwinds . He sees three pressing issues .
First is how businesses should react to the game-changing public policies that have been put in place over the last year to scale clean energy . Varley notes the context : “ Change is afoot in the US with huge subsidies , tax credits , and other incentives for green tech made in the country through the somewhat misleadingly named Inflation Reduction Act ( IRA ). European Commission President Ursula von der Leyen outlined plans for a European Union ( EU ) Green Deal Industrial Plan , including the Net-Zero Industry Act to focus investment and deliver new state aid to support green tech .”
Companies are sure to feel the effects of this new , muscular approach from government : “ These policies and others in the pipeline will have a huge impact on companies ’ competitiveness . Leading CSOs
54 April 2023