Corporate purpose – A company’s X-factor and force for good

AS THE world braces for increased economic challenges in 2023, from wars (trade and physical ones), to stresses such as high inflation and interest rate pressures, the findings in the recently published KPMG CEO Outlook provide some interesting pointers.

Based on interviews with 1,325 global chief executive officers (CEOs), environmental, social and governance (ESG) factors are still seen as an important area that has an impact on improving financial performance – with 45 per cent of CEOs surveyed recognising the impact of ESG, an increase from 37 per cent a year ago.

Perhaps more interesting is the fact that 73 per cent of CEOs polled see corporate purpose having the greatest impact over the next three years, meaningfully driving financial performance for their respective corporations.