Pirelli – together with 15 other global companies worldwide - is among the founding members of the CFO Task Force of the United Nations Global Compact to put corporate finance at the center of the Sustainable Finance agenda to advance the Sustainable Development Goals (SDGs). At its SDG Investment Forum meeting held in Milan, Chief Financial Officers (CFOs), among whom Francesco Tanzi of Pirelli, convened to kick start a dialogue calling on business leaders to provide solutions for sustainable development and scalable SDG-related investments.
“The global CFO community and their companies manage US$14 trillion in annual investments globally, including more than $7 trillion in emerging markets,” said Lise Kingo, CEO and Executive Director of the UN Global Compact. “Through our CFO Task Force, we want to activate the CFOs as stewards of trillions in investment to focus business strategies to close the SDG financing gap. Our vision is to create a neutral platform for CFOs to collaborate and drive positive SDG outcomes. To achieve this, the CFO Taskforce will develop a set of Principles for SDG-aligned Corporate Finance that will make it easier for companies to integrate the SDGs into their financial strategies,” she added. The Task Force will aim to leverage the nearly 10,000 companies participating in the UN Global Compact and include an annual survey to monitor the state of progress in the Global CFO community. The UN Global Compact’s Sustainable Finance Team will continue to recruit more CFOs in the coming months.
The CFO Task Force will be co-chaired by Enel and PIMCO, altri membri fondatori insieme a Pirelli Basf, Braskem, Eni, Fcc Construcción, Global Impact Initiative, Iberdrola, Moody’s, SkyPower, Sompo Japan Nipponkoa Asset Management, Terna, Pearson, Tesco e Turkcell. The creation of the CFO Taskforce stems from a recognition of the systemic impact of sustainability on business, often requiring the transformation of entire business and production models, as well as internal investments. The CFO Task Force aims to address the need to create new tools for CFOs to raise capital from impact-oriented investors, and deploy capital in a way that maximizes positive impact.