Fostering a shared vision for tomorrow

Stewart Harris' Story

"We're reframing sustainability from a cost to an investment, recognizing its role in shaping our company's future. It's about seeing sustainability as a value driver rather than a mere expense."
"At Givaudan, we're driving change by embedding ESG into the company’s DNA. By fostering a culture where sustainability isn't just a buzzword but a fundamental part of our operations, we're ensuring that every decision we make is aligned with our ESG-driven values."

How Stewart is contributing  reframing contributing to reframing   sustainability at Givaudan

Stewart, Chief Financial Officer at Givaudan since August 2024, has a key role in strategic planning and ensuring ESG is integrated in strategic cycles. He is also responsible for the transformation of non-financial reporting. Stewart is genuinely motivated by a personal commitment to sustainability, driven by a desire to contribute to a better future for all.

Founded in 1895 as a perfumery company, Givaudan is a multinational manufacturer with a history rich in creating and innovating scents and tastes. Based in Switzerland, the business is divided into two activities: Taste and Wellbeing, and Fragrance and Beauty. Reaching millions of consumers worldwide its products are used in food, drinks, perfume and laundry care.


Sector: Flavours and fragrances


Employees: > 16,260


Geography: Headquartered in Switzerland, active across the world


Website: www.givaudan.com

Challenges
faced

Stewart, Chief Financial Officer (CFO) at Givaudan, recognizes the importance of a mindset shift on how sustainability is valued and understood across the company. However, this doesn’t always come without its challenges.

 

A key challenge for Stewart in embedding sustainability into the company’s strategy, even before his CFO mandate, has been in establishing a sustained commitment to ESG-driven values and ensuring that these are seen as an essential part of Givaudan’s strategy, rather than just a cost or compliance exercise. The traditional financial mindset often looks at ESG as an additional burden rather than a core component of business success.

"Sustainability initiatives need to be paid for by someone and it cannot always be paid for by the shareholder. Instead, it needs to be paid for in the overall business ecosystem.”"
"Over time ESG excellence will be a qualifier: if you are not excellent in this domain, it will be detrimental to your ability to be a leader in the industry in which you operate."

To succeed, Stewart knows he needs to find a way to help leadership, financial managers and others in the company recognize the intrinsic value of sustainability and ESG considerations in driving long-term business success and competitiveness.

 

His journey requires persistence, collaboration across departments, and a deep commitment to embedding sustainability into the company’s organizational culture strategic agenda.

Actions
taken

Stewart knows that change needs to be championed at the top; the Executive Committee (EC) is pivotal in driving the cultural shift needed to make ESG a central part of decision-making. Stewart has positioned himself as a strong advocate for sustainability within the leadership team, making it clear that ESG is not just a box to tick – but that it is central to the future success of the company.

 

Stewart fosters a culture of influence through his role in finance, creating an ecosystem where people feel inspired and encouraged to engage with sustainability initiatives. He invests in people with diverse skill sets – an asset which Stewart believes is crucial for driving sustainability progress and translating initiatives into tangible results.

"It's about cultivating a company culture where sustainability is integrated into every aspect of our operations - It's not solely reliant on a handful of leaders pushing for ESG initiatives."
“You need to complement individuals’ expert knowledge on sustainability with different profiles, with profiles skilled in execution, people who can make things happen."

Recognizing that sustainable performance is fundamental to Givaudan’s strategy, Stewart has aligned the funding approach with their sustainability-linked financing framework. He has also been a key player in integrating ESG into strategic planning cycles. His commitment to ESG is evident also through the support of leadership initiatives. It has involved the inclusion of non-financial performance linked incentives for the top 500 leaders, and encouraging managers to weigh both, financial metrics and non-financial ones (such as carbon footprint, employee engagement and supply chain transparency) when evaluating investments and business performance.

 

To prepare for the Corporate Sustainability Reporting Directive (CSRD), Stewart has assembled a team – comprising experts from Human Resources, Sustainability, and Environment, Health, and Safety (EHS) – tasked with adapting Givaudan’s processes to meet the upcoming CSRD. Their collaborative efforts ensure a smooth transition to new reporting standards.

Resonance
of impact

Under the collective leadership of Stewart and the Executive Committee, Givaudan has strengthened its ESG integration, improved its reporting practices, and increased employee engagement in sustainability, making these values a tangible and integral part of the company’s culture.

 

By embedding ESG principles into the strategic planning cycles, the leadership team, including Stewart, has positioned sustainability as a central pillar of Givaudan’s long-term vision, ensuring that the company’s goals are aligned with responsible business practices. Stewart has further reinforced this commitment with the creation of the new CSRD team led by finance, thus breaking down silos and expanding the boundaries of reporting beyond compliance.

"Throughout my ESG journey, one key lesson stands out: commitment is key. We've stayed true to our sustainability ambitions, even when faced with challenges. By linking our sustainability goals to the longevity of our company and staying committed to delivering on our promises, we're setting a standard for excellence in our industry."

Stewart’s commitment to fostering a culture of sustainability across Givaudan has enabled him to leverage his influence. He has been able to align his department’s priorities with sustainable practices and encourage other leaders to do the same. By framing sustainability as an investment in the company’s future rather than just as cost, Stewart helps ensure it is integrated into the business model, recognized as a value driver, and aligned with the company’s long-term strategic interests.

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