Sustainability leaders in Belgium and Luxembourg increasingly find themselves ‘at a crossroads’, as they seek to demonstrate measurable business value from ESG, KPMG has said in a new report.
The 2026 KPMG Belgium & Luxembourg CSO Survey surveyed more than 100 chief sustainability officers and senior ESG leaders, and found that sustainability is increasingly being operationalised, as well as being more deeply integrated into core business decision-making.
‘Tangible business value’
“Sustainability remains a long‑term priority for organisations, but is increasingly scrutinised for its ability to deliver tangible business value,” commented Michael Wagemans, partner, head of sustainability, KPMG Belgium. “Insights from the CSO Survey show that sustainability is moving closer to the core of business decision‑making, with financial relevance and double materiality driving sharper prioritisation.”
Wagemans added that while there’s no shortage of ambition on the part of enterprises, execution remains a “key differentiator”, particularly when it comes to topics such as climate transition planning and Scope 3 emissions.
“Operating models are evolving toward more distributed ownership, requiring stronger integration with business functions and clearer accountability,” he said. “Overall, sustainability is no longer challenged on why it matters, but on how effectively it is executed.”
Financial relevance
Key takeaways from the report include that sustainability is ‘increasingly being anchored in financial relevance’ as well as business value creation, with many firms moving from viewing sustainability through a compliance lens to translating it into growth opportunities.
In addition, sustainability operating models are shifting away from centralised ESG teams toward more distributed ownership across business functions, with leaders increasingly acting as coordinators and strategic integrators.
As KPMG noted, embedding sustainability successfully depends less on standalone ESG targets and more on integrating sustainability thinking into everyday decision-making, across a myriad of functions.
‘Effective embedding goes beyond formal KPIs and requires aligned narratives, intrinsic motivation, and clear accountability in day‑to‑day decision‑making,’ it said. ‘This shift also increases the importance of upskilling: sustainability teams must strengthen business acumen, while business leaders and functions build sustainability literacy.’ Read more here.
