A super common multitasker ingredient that gives your skin a nice soft feel (emollient). It also helps water and oil to blend (emulsifier) and to thicken up products.
It’s a so-called fatty alcohol (a mix of cetyl and stearyl alcohol - other two emollient fatty alcohols). Though alcohol is in its name, its properties are totally different from the properties of “normal” alcohol, or denat. alcohol. It’s not drying and not irritating and totally ok for the skin.