June 17, 2021 — Firmenich has joined the CFO (Chief Financial Officer) working group of the United Nations Global Compact, the first-ever global initiative promoting sustainable corporate finance and scalable investments to pursue sustainability goals ( SDGs) of the United Nations.
By signing the UN-backed First Principles for Integrated SDG Financing and Investing, Firmenich drives corporate finance strategies with real environmental, social and governance (ESG) impacts and helps build a financial system sustainable.
“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.
“Our strategy is rooted in the SDGs and, since the signing of the United Nations Global Compact in 2008, we have become one of 41 LEAD companies recognized worldwide 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.
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.
The SDGs are firmly anchored in the company’s growth strategy.
“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 investments towards the SDGs and ensure that we leave no one behind ”, adds 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 a business is inextricably linked to a sustainable future for all. “
As custodians of more than US $ 14 trillion per year in corporate investment globally, CFOs can be a driving force for the achievement of the SDGs, as interest in sustainable investing and responsible is increasing worldwide.
By working throughout the investment value chain, including investors, banks, development finance institutions, credit rating agencies and sustainability rating companies, the CFO working group and Firmenich aim to create a large, liquid and efficient market for SDG investments and capital flows.
Edited by Gaynor Selby
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