IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxviiiy2025i1p372-382.html
   My bibliography  Save this article

The Leader in ESG Change Management: The Transformation of the Chief Financial Officer’s Role in Organization

Author

Listed:
  • Marta Wiacek

Abstract

Purpose: The aim of the paper is to present the impact of the CSRD Directive on the activities of the organization, with particular emphasis on the impact it will have on the role of Chief Financial Officer. CFO’s will have to implement a global change in reporting imposed by the CSR Directive. Their role in organizations will be transformed. They are going to become leaders of ESG green strategic change and reporting Guards. Design/methodology/approach: The approach to the topic of the paper is theoretical and practical. The changing role of the CFO in the context of organization and strategic change management is being analyzed. Findings: As a result of the determinant of the change, which is CSRD, organizations will have to implement new non-financial reporting. A key role in the process of implementing this change in the organizations will be dedicated to CFO. There will be a transformation of CFO’s function to the role of a multi-dimensional strategic leader of change management in organization. Practical implications: The paper has practical impact. The general review characterizes the areas in which the CFO's knowledge and competences should be transformed so that they can effectively become leaders of ESG change. Originality/value: We are able currently observing the transformation of the entire market. The occurrence of an external factor, which is a change in financial law (CSRD), determines changes in all organizations in the world. The paper is a summary of observations of the evolution of the scope of CFO’s role and responsibilities to a strategic one.

Suggested Citation

  • Marta Wiacek, 2025. "The Leader in ESG Change Management: The Transformation of the Chief Financial Officer’s Role in Organization," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 372-382.
    • Handle: RePEc:ers:journl:v:xxviii:y:2025:i:1:p:372-382
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/3908/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mirela Cristea & Graţiela Georgiana Noja & Eleftherios Thalassinos & Daniel Cîrciumaru & Constantin Ștefan Ponea & Carmen Claudia Durău, 2022. "Environmental, Social and Governance Credentials of Agricultural Companies—The Interplay with Company Size," Resources, MDPI, vol. 11(3), pages 1-12, March.
    2. Phuong Lien Thi Hoang & Dong Xuan Pham & Eleftherios I. Thalassinos & Hoang Anh Le, 2022. "The Impact of Corporate Governance Mechanism, Company Characteristics on the Timeliness of Financial Statements: Evidence from Listed Companies in Vietnam," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, March.
    3. Lucia Biondi & John Dumay & David Monciardini, 2020. "Using the International Integrated Reporting Framework to comply with EU Directive 2014/95/EU: can we afford another reporting façade?," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 28(5), pages 889-914, July.
    4. Foteini I. Pagkalou & Christos L. Galanos & Eleftherios I. Thalassinos, 2024. "Exploring the Relationship between Corporate Governance, Corporate Social Responsibility and Financial and Non-Financial Reporting: A Study of Large Companies in Greece," JRFM, MDPI, vol. 17(3), pages 1-23, February.
    5. R. Rajesh & Chandrasekharan Rajendran, 2020. "Relating Environmental, Social, and Governance scores and sustainability performances of firms: An empirical analysis," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1247-1267, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rafal Cieslik & Jaroslaw Klepacki & Rafal Zbyrowski, 2024. "Exploring the Relationship Between ESG Performance and Institutional Ownership: Evidence from Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 169-183.
    2. Seyyed-Mahdi Hosseini-Motlagh & Mona Jazinaninejad & Nazanin Nami, 2022. "Coordinating a socially concerned reverse supply chain for pharmaceutical waste management considering government role," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(2), pages 1852-1877, February.
    3. Peng, Shengnan & Liu, Chan & Wang, Ze & Ye, Zihan & Sun, Xialing & Tan, Zhanglu, 2024. "The impact of the carbon reduction policy effectiveness on energy companies' ESG performance," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    4. Renata C. A. Mendonça & Ivo V. Pedrosa & Maria Amália O. A. Camara, 2021. "Sustainable public procurement in a Brazilian higher education institution," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(11), pages 17094-17125, November.
    5. Kirsneh Alemu Kebede, 2024. "The Effect of Availability of Foreign Exchange and Devaluation of BIRR on the Performance of Companies in Ethiopia (Instance of Sample Company)," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 99-117.
    6. Wang, Kai & Li, Tingting & San, Ziyao & Gao, Hao, 2023. "How does corporate ESG performance affect stock liquidity? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
    7. K. E. K. Vimal & Jayakrishna Kandasamy & Angel Acevedo Duque, 2021. "Integrating sustainability and remanufacturing strategies by remanufacturing quality function deployment (RQFD)," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(9), pages 14090-14122, September.
    8. Anrafel Souza Barbosa & Maria Cristina Basilio Crispim Silva & Luiz Bueno Silva & Sandra Naomi Morioka & Vinícius Fernandes Souza, 2023. "Integration of Environmental, Social, and Governance (ESG) criteria: their impacts on corporate sustainability performance," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-18, December.
    9. Bruna, Maria Giuseppina & Loprevite, Salvatore & Raucci, Domenico & Ricca, Bruno & Rupo, Daniela, 2022. "Investigating the marginal impact of ESG results on corporate financial performance," Finance Research Letters, Elsevier, vol. 47(PA).
    10. Syed Hasnain Alam Kazmi & Muhammad Saeed Shahbaz & Muhammad Shujaat Mubarik & Junaid Ahmed, 2021. "Switching behaviors toward green brands: evidence from emerging economy," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(8), pages 11357-11381, August.
    11. Roma Rys-Jurek, 2024. "Key Drivers of European Agriculture: Output, Income, and Stocks in Focus," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 228-247.
    12. Khan, Muhammad Arif, 2022. "ESG disclosure and Firm performance: A bibliometric and meta analysis," Research in International Business and Finance, Elsevier, vol. 61(C).
    13. Foteini I. Pagkalou & Konstantinos I. Liapis & Eleftherios I. Thalassinos, 2024. "Defining the Total CSR Z-Score: A Methodological Approach Using Regulations, Standards and Guidelines Through Application to the Greek Market," Sustainability, MDPI, vol. 16(23), pages 1-28, November.
    14. Tomasz Bartosz Kalinowski, 2024. "Sustainable Business Process Management in the FMCG Sector," European Research Studies Journal, European Research Studies Journal, vol. 0(Special A), pages 313-324.
    15. Boguslawa Bek-Gaik & Anna Surowiec, 2023. "Sustainable Business Models in Non-Financial Reporting in Polish Practice," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 973-995.
    16. Swapan Kumar Saha & Paulo Duarte & Susana C. Silva & Guijun Zhuang, 2021. "Supporting sustainability by promoting online purchase through enhancement of online convenience," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(5), pages 7251-7272, May.
    17. Jung, Hail & Lee, Junyoup & Song, Chang-Keun, 2023. "Carbon productivity and volatility," Finance Research Letters, Elsevier, vol. 56(C).
    18. Shahid Rasool & Roberto Cerchione & Piera Centobelli & Eugenio Oropallo, 2022. "Smoking kills you, littering butts damages others too: analysing sustainable consumer behaviour in the era of circular economy," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(5), pages 7115-7137, May.
    19. Wei, Feng & Zhou, Lei, 2024. "Do state-owned enterprises prefer capital from private enterprises with better ESG performance? Evidence from China's mixed ownership reforms," Finance Research Letters, Elsevier, vol. 62(PA).
    20. Jingyi Xie & Yan Xu & Haixiao Li, 2021. "Environmental impact of express food delivery in China: the role of personal consumption choice," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(6), pages 8234-8251, June.

    More about this item

    Keywords

    ESG; leadership in change management; Chief Financial Officer.;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxviii:y:2025:i:1:p:372-382. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.