The UN Global Compact CFO Taskforce for SDGs, of which Pirelli is a founder, today, in the context of the 75th UN General Assembly, launched the “CFO Principles of Integrated SDG investments and finance” which aims to support the alignment of financial and investment practices with Sustainable Development Goals (SDG) through the implementation of best practices.
The members of the United Nations Global Compact CFO Taskforce have identified four key areas as the principles’ focus: SDG impact and measurement, integrated SDG strategies and investments, integrated corporate SDG Finance and integrated SDG communication and reporting. Complementing the Ten Principles of the Global Compact, those identified by the CFOs aim at involving the global community of financial managers so that the entire value chain linked to investments creates a market that is larger, more liquid and efficient for SDG investments and capital flows.
Francesco Tanzi, Pirelli’s Chief Financial Officer said: “Integrating SDGs into Corporate Finance and Investment is key to accelerating the achievement of global goals through impact actions. This belief is core to Pirelli’s participation as a founding member in the UN CFO Taskforce for SDGs, alongside its development model focused on “partnerships for the goals”.
Pirelli will be an active part of the working groups of the CFO Taskforce for SDGs to develop guidelines, case histories and “pilot operations” to facilitate the adoption and implementation of the Principles.
Pirelli, the only tyre company included, confirmed UN Global Compact Lead
During the 75th UN General Assembly, Pirelli, the only tyre company included, was also recognized, together with 40 other companies around the world, part of the UN Global Compact Lead that groups together companies that have been identified for their greater commitment to the implementation of the Ten Principles of the UN Global Compact as well as the advancement of global sustainability goals.
The UN Global Compact is the biggest corporate sustainability initiative in the world. To qualify as LEAD, a company must take part in at least two Global Compact “Action Platforms” which bring together companies. Local networks, academia, civil society and governments to address complex questions of sustainability and deliver innovation in favour of the global goals.In addition, participants must communicate their progress through an annual report on sustainability that shows in detail progress achieved and the actuation of the Ten Principles.
Belonging to the UN Global Compact, which Pirelli joined in 2004, is testament to the corporate conviction that effective solutions should be pursued through a holistic approach to development, which integrates economic, social and environmental capital, and rests on the joint efforts of companies and stakeholders at the global level.
Photo: pirelli.com (Cooling tower in Milan headquarters building)