Pirelli CFO partners with UN Compact ‘Principles of Integrated SDG investments and finance’
Italian manufacturer the sole tyre company involved
The UN Global Compact CFO Taskforce for Sustainable Development Goals (SDG), brought together Chief Financial officers from leading companies around the world to launch “CFO Principles of Integrated SDG investments and finance” in the context of the 75th UN General Assembly on 21 September 2020.
Pirelli, which is a founder member of the UN Global Compact CFO Taskforce for Sustainable Development Goals (SDG), and which joined the UN Global Compact in 2004, explained that the “CFO Principles of Integrated SDG investments and finance” aims to support the alignment of financial and investment practices with SDG and 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 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.