
Why ESG initiatives need a solid economic foundation
ESG can influence economic and social development. But to ensure long-term prosperity we need to establish a triad economy: social, ecological and market.
Joe Kaeser is Chairman of the Supervisory Boards of Siemens Energy AG and Daimler Truck Holding AG. From 2013 until 2021, he served as the President and Chief Executive Officer of Siemens AG.
Mr. Kaeser is furthermore a Supervisory Board Member at Linde plc and serves in the Board of Trustees of the World Economic Forum.
Mr. Kaeser has over 40 years of experience at Siemens AG, where he has held a variety of leading management positions in finance and strategy, both within and outside Germany. He began his career at Siemens in 1980 in the field of components and semiconductors. From 2004 to 2006, he served as Siemens’ Chief Strategy Officer and from 2006 until 2013 as Chief Financial Officer before he took on the role of President and Chief Executive Officer.
During his tenure as President and CEO of Siemens AG, Mr. Kaeser fundamentally reshaped the company and led the transformation of Siemens into three standalone public companies. Out of an one-size-fits all conglomerate, he created three focused and adaptive companies: the “new” Siemens AG, Siemens Energy AG and Siemens Healthineers AG, resulting in significant value creation since then.
ESG can influence economic and social development. But to ensure long-term prosperity we need to establish a triad economy: social, ecological and market.
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