NEW YORK — Pirelli & C. S.p.A. is among the signatories of a new United Nations initiative to increase investment in sustainable development goals (SDGs).
The move, Pirelli said, aims at involving the community of financial managers so that the entire value chain linked to investments is geared more toward achieving sustainable development goals.
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 Sept. 21.
As members of the taskforce, chief financial officers are committed to implementing the CFO principles within their organizations and share their experience and learnings with peers in the broader community of Global Compact companies.
The taskforce has identified four key areas to focus on:
- 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," Pirelli CFO Francesco Tanzi said.
Other founding members of the UN CFO Taskforce for SDGs include companies such as BASF A.G., Ford Motor Co., Eni S.p.A. and Unilever P.L.C.
Milan, Italy-based Pirelli, 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 that requires members to take part in sustainability "action platforms" and communicate their progress.
Pirelli said the UN Global Compact is the biggest corporate sustainability initiative in the world and belonging to it is "testament to the corporate conviction" that effective solutions should be pursued through a holistic approach to development.
This approach integrates economic, social and environmental capital, Pirelli said, and rests on the joint efforts of companies and stakeholders at the global level.