Corporate sustainability initiative, the UN Global Compact, has announced the launch of the Chief Financial Officers’ Coalition for the SDGs.
The CFO Coalition for the SDGs is a platform where global CFOs and other corporate officers can collaborate with peers, investors, financial institutions and UN agencies to develop principles, frameworks and recommendations to integrate the Sustainable Development Goals (SDGs) in corporate finance and create a market for mainstream SDG investments.
The CFO Coalition for the SDGs aims to:
- Leverage credible commitments from CFOs in the Coalition to direct trillions of corporate investments towards the SDGs and create a $10 trillion market for SDG-directed finance by 2030.
- Expand the CFO Leadership Group from 70 participants to 100 by 2022.
- Foster a community of 1,000 CFO Signatories to the CFO Principles on Integrated SDG Investments and Finance by 2024.
Chief Financial Officers in the CFO Leadership Group have the opportunity to both lead or co-lead and participate in specific workstreams and working groups to develop recommendations, frameworks and best practices to guide corporate investments towards the SDGs. The 70 CFOs who are part of the CFO Leadership Group have already committed to collectively invest more than $500 billion in support of the SDGs.
Marie Morice, Head of Sustainable Finance and Co-Lead of the CFO Coalition for the SDGs at the UN Global Compact says, “Through our new CFO Coalition for the SDGs, we look forward to welcoming new participants who will collaborate with us and support us as we look to create new financial tools and shape policy to move trillions of dollars or private investment towards sustainable development.”