Reflections on 2020-21: Prince Charles calls for “suitably empowered CSOs” at the launch of the S30 forum

This week I’m continuing my reflections on my first year as EY’s first Global Vice Chair -Sustainability. A major highlight of the past year was undoubtedly the launch of the S30 forum last November, as part of HRH The Prince of Wales’s Sustainable Markets Initiative (SMI). Launched at the World Economic Forum in January 2020, the coalition aims to help the world transition to a sustainable future. I am proud to co-chair the SMI’s S30 forum, alongside Arlo Brady, CEO of freuds.

The S30 forum brings together chief sustainability officers (CSOs) from some of the world’s most influential companies and aims to accelerate business action on sustainability . S30 members represent companies with a total market capitalisation of $6.7 trillion, revenue in excess of $2.3 trillion and more than five million employees. The challenges facing the planet are incredibly complex and cannot be adequately addressed by any organisation or individual acting alone, collaboration on sustainability strategies between global businesses is critical.

Speaking at the S30 launch event, the Prince highlighted the crucial role of the private sector in helping to save the planet. Encouragingly for me and my peers, he said the role of the CSO is “fast becoming one of the most important and influential roles in the corporate world and is increasingly central to market competitiveness”. He also called for major businesses around the world to appoint “suitably empowered chief sustainability officers” who would ensure that sustainability “is central to business strategy, decision-making, procurement, supply chains and customer engagement”.

I have found being involved with the S30 an overwhelmingly positive experience. It’s been an opportunity to work with other leading organisations to share the lessons we have learned as we all seek to create value from being more sustainable and create a positive impact on the planet and on society. The group has bonded well and shared valuable stories, and we will continue to learn a huge amount from one another. I have found it particularly fascinating to learn lessons from multiple industries – quite often we end up looking at the same problem through a very different lens.

In my mind, there is no doubt that CSOs – along with their chief executives – will play a crucial role in articulating to companies of all sizes can be both sustainable and profitable, rather than seeing them as opposing, business strategies. Sustainability-conscious companies do not just protect the planet; they protect and create financial performance as well.

The views reflected in this article are the views of the author and do not necessarily reflect the views of the global EY organization or its member firms.