In September 2019, the UN Global Compact launched an innovative network of Chief Financial Officers to tackle the challenge of sustainability and the SDGs. With over 60 companies with a market capitalization of over $1.6 trillion which have now committed to key performance indicators (KPIs) to measure their progress towards the implementation of the CFO Principles on Integrated SDG Investment and Finance.
Launched a year ago, the CFO Principles are the first UN-backed principles for integrated SDG finance and investment which seek to guide companies in aligning their sustainability commitments with credible corporate finance strategies to create real-world impact on the SDGs.
The new KPIs serve as a benchmark on the integration of the SDGs in corporate finance. The CFOs will also use the KPIs to set targets on what they want to achieve, both individually and collectively as members of the CFO Taskforce. In due course the KPIs will become an integral part of the accountability mechanism in the implementation of the UN Global Compact’s Ten Principles and, combined with the CFO Principles, represent an important step towards the integration of sustainability in company practices.
During this session, the CFO Task Force will present the impact of the past 24 months’ work that includes the measurement of KPIs and Setting Targets and launch the global initiative of CFOs for the SDGs. CFOs, from different geographies and industries, will tell their stories to keep inspiring others in this long-term sustainable creation and worldwide movement. The discussion will explore what it means for a company to truly contribute towards financing the SDGs, and how corporate finance is the key to unlocking the rising tide of ESG investment that could transform our financial system.