Firmenich joins the CFO working group of the United Nations Global Compact to drive corporate finance strategies with real ESG impacts

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As managers of trillions of dollars in corporate finance, CFOs have a critical role to play in ensuring the sustainability of corporate financial strategies, ”said Benoit Fouilland, CFO of Firmenich. “At Firmenich, our strategy is based on sustainable development. Goals and since the signing of the United Nations Global Compact in 2008, we have become one of 41 LEAD companies worldwide recognized for their commitment to a new era of sustainability. Joining the CFO working group is a natural next step for us and a great opportunity to continue to advance sustainability in global business. ”

“We are very pleased to welcome Firmenich, with its proven track record in sustainability, to the CFO working group. The Principles for SDG Aligned Corporate Finance enable the wider financial ecosystem to increase funding and investment towards the SDGs and ensure we are leaving no one behind, ”said Sanda Ojiambo, CEO and Executive Director of the United Nations Global Compact. “It is the right and timely thing to do, because the long-term success of businesses is inextricably linked with a sustainable future for all. ”

Firmenich’s actions are guided by the ten general principles of the United Nations Global Compact in the areas of human rights, labor, the environment and the fight against corruption. In addition, the SDGs are firmly anchored in the Group’s growth strategy and give it scope for action. Learn more about Firmenich’s progress in its 2020 performance and sustainability report and its ambitious sustainability goals for the next decade by ESG 2030 ambitions. Member of the board of directors of Global Compact Network Switzerland for a decade, Firmenich contributes to accelerate the impact of the SDGs by Switzerland.

As keepers of over $ 14 trillion per year in corporate investment globally, CFOs can be a driving force for the achievement of the SDGs, as interest in sustainable and responsible investing grows around the world.

Working across the entire investment value chain, including investors, banks, development finance institutions, credit rating agencies and sustainability rating companies, the CFO working group and Firmenich share the goal of creating a large, liquid and efficient market for SDG investments and capital flows. The working group identified four key areas: the impact and measurement of the SDGs, integrated SDG strategies and investments, financing of the SDGs, and communication and reporting on the SDGs.

The CFO Principles on Integrated SDG Investment and Finance, which are intended to complement the ten principles of the United Nations Global Compact, are available for download here.

About Firmenich
Firmenich, the world’s largest privately held fragrance and flavor company, was founded in Geneva, Switzerland, in 1895, and has been a family business for 125 years. Firmenich is a leading business-to-business company specializing in the research, creation, manufacture and sale of fragrances, flavors and ingredients. Recognized for its world-class research and creativity, as well as its leadership in sustainable development, Firmenich offers its customers superior formulation innovation, a wide range of high-quality ingredients and exclusive technologies, including biotechnology, encapsulation, olfactory science and taste modulation. . Firmenich achieved annual sales of 3.9 billion Swiss francs at the end june 2020. More information on Firmenich is available at www.firmenich.com.

SOURCE Firmenich

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