The KPMG 2021 CEO Outlook, which asked more than 1,300 global CEOs about their strategies and outlook over a 3-year horizon, finds that 60 percent of leaders are confident about the global economy's growth prospects over the next 3 years (up from 42 percent in the January/February’s pulse survey).

When looking at risks for growth over 3 years, senior executives identified three areas they see as top risks: supply chain, cyber security and climate change. Fifty-six percent of global CEOs say that their business’ supply chain has been under increased stress during the pandemic.

Future optimism, expansion, new challenges and the focus on ESG goals, sums up this year's edition of KPMG's global study CEO Outlook - a future-oriented survey among business leaders. For the first time since the pandemic, business leaders are optimistic about the growth prospects of the global economy. However, they see challenges in their own growth agenda. After just over a year of working from home, cyber security and sustainability issues now top the list of biggest threats to growth.

"We see that the pandemic has led CEOs around the world to put ESG in focus for their recovery and growth strategies. Focusing on a bold ESG strategy can help companies grow in the new reality we face," reflects Armine Movsisjana, Managing Partner, KPMG in Latvia.

30 percent of those who responded to the survey plan to invest more than 10 percent of their revenue in sustainability measures over the next three years and as many as 87 percent, believe that the companies' purpose is central to building their brand reputation.

"One lesson we learned from the pandemic has been that we must work together to solve major problems, and most important of all is that ESG is central to most business plans. The results from the report show that companies are ready to work closely with governments to fulfill their ESG commitments and are prepared to be held accountable for delivering," says A. Movsisjana.

About KPMG CEO Outlook

The survey is based on responses from 1 325 business leaders from the global market (Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, the United Kingdom and the United States).

All respondents in the study represent a company with an annual revenue of at least $500 million and all come from major industries, including retail, financial services, life sciences, energy, technology and manufacturing. The survey was conducted between June and August 2021.