New report launched in conjunction with new CSO Hub, a resource for current and future Chief Sustainability Officers
Oakland, Calif., March 15, 2023 – Weinreb Group, the leading executive sustainability and Environment Social Governance (ESG) placement firm, today released its 2023 Chief Sustainability Officer (CSO) Report. The findings, which were collected via survey and external research, indicate continued growth in the scope and influence of CSOs within publicly held U.S. companies. One of the key findings of the 2023 survey is the increase in the number of CSOs who sit on the corporate leadership team, which increased from 41% in 2011 to 76% in 2023. In addition, 99% of the CSOs who responded to the survey engage with their Board of Directors through the Nominating and Governance (55%), ESG (42%) and Audit and Finance (22%) committees.
“The direct relationship between CSOs and Boards became very clear in this year’s survey,” said Ellen Weinreb, Founder and CEO of the Weinreb Group. “CSOs are responding to increased investor pressure, expanding and complicated global regulations, and the integration of sustainability into corporate strategy. More and more companies are recognizing the critical role of CSOs to help manage and grow the business.”
In 2011, the first year the Weinreb Group Chief Sustainability Officer Report was released, there were just 29 CSOs appointed; in 2023 that number has risen to 183, a more than six-fold increase. In addition, the number of companies appointing their first CSO has increased steadily over the last three years; from 2004 through 2019, 108 companies named their first CSO, compared to 122 in the last three years. Of the 183 CSOs, 58% are women, up from 28% in 2011.
Further, the 2023 study reveals a strong correlation between reporting structure and executive responsibility. Specifically, 34% of this year’s respondents report directly to the Chief Executive Officer (CEO) and, of those, 64% are also corporate officers. Among the 64% of CSOs who are two reporting steps away from the CEO, 33% are corporate officers.
When asked about the competencies required to be an effective CSO, survey respondents named three top attributes: “strategy and vision” (86%), “influencing without authority” (68%) and the ability to be a “corporate chameleon” (67%).
“When it comes to competencies, being able to predict the future and help our companies understand what they need to do to get there is a critical role for CSOs,” said Dave Stangis, CSO of Apollo Global Management. “Having strategy and vision, and being able to execute against it, is essential.”
In addition to the release of the 2023 data, Weinreb Group today also launch its CSO Hub. As the first dedicated sustainability and ESG placement firm, Weinreb Group is committed to providing up-to-date resources to current and future CSOs. The new CSO Hub provides research, videos of current CSOs, and additional resources to help leaders keep pace with the rapidly changing landscape of sustainability and ESG.
“I am fascinated by the speed with which this industry is moving,” said Ellen Weinreb. “We want to leverage our 20+ years of experience to provide more companies with the tools they need to advance their sustainability strategies, and hope the CSO Hub will serve as an essential resource.”
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About Weinreb Group
Weinreb Group is a global, boutique, woman-owned placement agency that collaborates with clients to find, vet and place well-qualified ESG and sustainability candidates. Through a proprietary process, hands-on guidance and carefully cultivated relationships, we build long-term relationships with clients, supporting them through searches for a CSO, ESG Leader, Partner or an entire team. www.weinrebgroup.com
About the Report
Our 2023 list of CSOs was compiled using information from our network, previous CSO lists, and searches on LinkedIn. All CSOs were verified via web research, including via corporate websites. CSOs on our list fulfill the following two criteria: Their company is publicly traded in the U.S., and the executive’s title officially includes the words “chief sustainability officer.” We sent surveys in January to 183 CSOs and received 72 responses (39% participation). The CSO List is current as of February 1, 2023. Read the full report at https://weinrebgroup.com/cso-hub/.
For more information, contact:
Annie Longsworth
annie@thesirenagency.com
415.218.7925