Milan, Italy – Pirelli & C. SpA is among the signatories of a new UN initiative to increase investment in sustainable development goals (SDGs).
The "CFO principles on integrated SDG investments and finance" initiative was launched by the UN Global Compact CFO taskforce, in the context of the 75th UN General Assembly, on 21 Sept.
The move, said Pirelli in a statement, aims at involving the community of financial managers so that the entire value chain linked to investments is more geared towards achieving sustainable development goals.
As members of the taskforce, chief financial officers are committed to implementing the CFO principles within their organisations and share their experience and learnings with peers in the broader community of Global Compact companies.
The taskforce has currently identified four key areas to focus on, according to Pirelli.
These include SDG impact and measurement; integrated SDG strategies and investments; integrated corporate SDG finance and integrated SDG communication and reporting.
“Integrating SDGs into corporate finance and investment is key to accelerating the achievement of global goals through impact actions,” said Francesco Tanzi, Pirelli’s CFO.
Pirelli is a founding member of the UN CFO Taskforce for SDGs, along with other key players such as BASF, Ford, Eni and Unilever.
The Milan-based company, the only tire maker included in the taskforce, said it would play “an active part” to develop guidelines, case histories and “pilot operations” to advance the implementation of the principles.
The UN Global Compact is a corporate sustainability initiative which requires members to take part in sustainability ‘action platforms’ and communicate their progress.