The function of “Chief Sustainability Officer” (CSO), i.e. the sustainability officer, is experiencing rapid growth in importance in companies: in 2021 more CSOs were hired worldwide than from 2016 to 2020 combined. Austrian companies are also taking the issue seriously, according to a study by the PwC strategy consultancy “Strategy&” (“An organizational setup fit for ESG transformation – the need for a CSO with impact”).
All 20 companies listed in the leading index ATX already employ a CSO. For comparison: In Germany it is 90 percent of DAX companies and in Switzerland 100 percent of SMI companies.
Around three quarters of Austrian CSOs have been hired in the past three years. However, the decision-making power is (still) low, and the influence of the CSOs varies enormously: Only 35 percent of the ATX CSOs are at board level. Position and role differ greatly.
women underrepresented
Only seven of the ATX companies, or 35 percent, have their own sustainability department. Women are also still underrepresented in the sustainability sector: Only 30 percent of the listed companies have women in the CSO position.
According to Willibald Kofler from Strategy&, the ESG transformation (environment, social affairs, corporate management) has arrived in the company: “Creating such a position is only the first step. The integration of the CSO into the core business is just as important.” This is the only way to drive the necessary change in the organization.
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