Firmenich Joins UN Global Compact CFO Task Force to Pilot Corporate Finance Strategies with Real ESG Impacts

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As custodians of trillions of dollars in corporate finance, CFOs have a critical role to play in ensuring companies’ financial strategies are sustainable,” said Benoit Fouilland, Chief Financial Officer of Firmenich. “At Firmenich, our strategy is based on the Sustainable Development Goals and since signing 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 Taskforce is a natural next step for us and a great opportunity to continue advancing 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 Corporate Finance Aligned with the SDGs enable the broader financial ecosystem to ‘increase funding and investment towards the SDGs and ensure that we leave no one behind,’ said Sanda Ojiambo, CEO and Executive Director of the United Nations Global Compact. “It’s the right and timely thing to do because long-term business success is inextricably linked to a sustainable future for all.”

Firmenich’s actions are guided by the ten fundamental principles of the United Nations Global Compact in the areas of human rights, labor, the environment and the fight against corruption. Furthermore, the SDGs are firmly anchored in the Group’s growth strategy, giving scope to its action. Learn more about Firmenich’s progress in its 2020 Performance and Sustainability Report and its ambitious sustainable development goals for the next decade in ESG 2030 ambition. Member of the board of directors of the Global Compact Network Switzerland for a decade, Firmenich contributes to accelerating the impact of the SDGs by Switzerland.

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

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

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

About Firmenich
Firmenich, the world’s largest privately owned 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. Renowned for its world-class research and creativity, as well as its leadership in sustainable development, Firmenich offers its customers superior innovation in formulation, a wide palette of high-quality ingredients and exclusive technologies such as biotechnology, encapsulation, olfactory science and taste modulation. . Firmenich had an annual turnover of 3.9 billion Swiss francs at the end June 2020. More information about Firmenich is available at www.firmenich.com.

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SOURCE Firmenich

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