Firmenich joins UN Global Compact Taskforce to drive sustainable corporate finance strategies

17 Jun 2021 --- Firmenich has joined the UN Global Compact CFO (Chief Financial Officer) Taskforce, the first-ever global initiative promoting sustainable corporate finance and scalable investments to pursue the UN’s Sustainable Development Goals (SDGs).

By signing the first UN-backed principles for integrated SDG finance and investment, Firmenich is driving corporate finance strategies with real-world Environmental Social & Governance (ESG) impacts and helping to create a sustainable financial system.

“As stewards of trillions of dollars in corporate finance, CFOs have a critical role to play in ensuring that companies’ financial strategies are sustainable,” says Benoit Fouilland, chief financial officer at Firmenich. 

“Our strategy is grounded in the SDG, and since signing the UN Global Compact in 2008, we became one of only 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.”

Sustainable finance 
Firmenich’s actions are guided by the UN Global Compact’s overarching ten principles in the areas of human rights, labor, environment, and anti-corruption. 

The SDGs are firmly embedded in the company’s growth strategy.

“We are very pleased to welcome Firmenich, with its recognized track record in sustainability, on the CFO task force. The Principles for SDG-aligned Corporate Finance enable the broader finance ecosystem to scale up financing and investments toward the SDGs and ensure that we leave no one behind,” adds Sanda Ojiambo, CEO and executive director of the UN Global Compact. 

“This is the right and opportune thing to do as the long-term success of a business is inextricably linked to a sustainable future for all.”

As custodians of over US$14 trillion a year in corporate investment globally, CFOs can be a driving force for the achievement of the SDGs, as interest in sustainable and responsible investment grows worldwide.

By working across the investment value chain, including investors, banks, development finance institutions, credit rating agencies and sustainability assessment firms, the CFO taskforce and Firmenich aim to create a broad, liquid and efficient market for SDG investments and capital flows. 

Edited by Gaynor Selby

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