Finance, sustainability driver
CFOs are not only key stakeholders in a company’s successful transition to a sustainable enterprise, they are in a prime position to take the lead.
CFOs are not only key stakeholders in a company’s successful transition to a sustainable enterprise, they are in a prime position to take the lead.
The ING-FINEX CFO of the Year Award is set to recognize the vital role of finance stewards as leaders and drivers of sustainability.
On its 17th edition, the longest-running and most prestigious award for CFOs will underscore the role demanded of finance chiefs by today's evolving times, wherein CFOs must step up and take charge in leading a company into a sustainable, successful future.
According to British multinational professional services network Deloitte, many CFOs have yet to recognize the importance and the impact of sustainability despite increasing pressure on companies.
Most of the CFOs' reporting work remains limited to financial key performance indicators, even if the value of an organization far exceeds what balance sheets suggest.
Thus, with finance departments proving integral in integrating sustainability measures into standard processes, CFOs are not only key stakeholders in a company's successful transition to a sustainable enterprise, they are in a prime position to take the lead.
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Finance chiefs can also drive sustainable growth by making informed financial decisions that take into account environmental, social, and governance factors.
The "Leadership and Sustainability in Numbers" theme celebrates CFOs who have successfully kept up with the times, leveraging their strategic savvy and financial expertise to foster innovation, mitigate risks, and create long-term value for their organizations, the planet, and society.
The expanding role of modern CFOs is also reflected in their four core qualities, which are likewise upheld by the ING-FINEX CFO of the Year Award that recognizes the best of the best in finance. As catalysts who implement strategy and steer operations, CFOs can stimulate the timely transition to sustainability.
Its principles can also be promoted by finance chiefs across organizations as strategists who set goals and stewards who manage systems. Lastly, as operators, CFOs must ensure to report non-financial information, given that environmental impacts factor into more C-suite decisions. The finance team, led by CFOs, are expected to quickly access, transform and interpret this vital data.
