Snam S p A : , as a founding member of the UN Global Compact CFO Taskforce, joins the launch of the Principles for Integrated SDG Investment and Finance

The UN Global Compact CFO Taskforce, of which Snam is a founding member, launched today the first integrated, UN-backed principles for SDG Investment and Finance.

The principles seek to guide companies in aligning their sustainability commitments with credible corporate finance strategies to create real-world impact on the Sustainable Development Goals (SDGs).

Snam CFO Alessandra Pasini, representing the company within the Taskforce, commented: 'We believe the CFO Principles for Integrated SDG Investments and Finance will have a crucial role in supporting companies across various industries and countries in their transition to sustainable development and effectively contribute to the SDGs. The effort of every single business will be key to address the global climate challenge and also make progresses in both the social and governance dimensions. At Snam we are committed to implementing these principles and share knowledge in order to facilitate the creation of a transparent market for corporate SDG investments and finance, and invite other CFOs and theircompanies to join us in this purpose'.

Members of the UN Global Compact's CFO Taskforce pinpointed four key areas that are relatively underserved but critical for SDG-aligned investments: SDG impact and measurement, integrated SDG strategies and investments, integrated corporate SDG Finance and integrated SDG communication and reporting. The goal is to work with the investment value chain, including investors, banks, development finance institutions, credit ratings agencies and sustainability assessment firms to create a broad, liquid and efficient market for SDG investments and capital flows.

Snam is fully committed to SDGs, particularly Goal 7 (Affordable and Clean Energy), Goal 9 (Industry, Innovation and Infrastructure), Goal 11 (Sustainable Cities and Communities), Goal 13 (Climate Action) and Goal 15 (Life on Land). Through its SnamTec program, Snam is investing €1.4 billion - as part of a €6.5 billion strategic plan to 2023 - focused on innovation in core business to reduce emissions as well as new energy transition businesses such as energy efficiency, sustainable mobility, biomethane and hydrogen. In 2019 and 2020 respectively, Snam was among the first companies in the world to issue a Climate Action Bond and a Transition Bond to align its financial strategy with the sustainability objectives.

The CFO Principles for Integrated SDG Investments and Finance were co-developed by 34 companies from 14 countries, spanning across various industries.