There is a close connection between sustainability and business growth. And it is precisely companies that are becoming increasingly important to mark a cultural change in perceiving sustainability not as a coast but as an opportunity for profit, in line with the objectives that the European Union is asking us to achieve. «Compared with the other major advanced economies, the sustainability performance of our system differs greatly in economic, social and environmental dimensions. The Italian economy is the great sick man of Europe: it practically stopped twenty years ago, with a stagnation of productivity linked to an insufficient degree of digitization of the system ». This is what emerges from the Cerved report “Sustainable Italy 2021”, which analyzes the degree of sustainability of the country, from an economic, social and environmental point of view, with the aim of measuring the fragility and strengths of the country in order to offer a systematic reference framework for the sustainable impact of public and private investments.
The presentation
Presented today in Rome, it was discussed by the heads of the main companies and institutions involved in the sustainable transition of the country: Stefano Barrese, Head of Banca dei Territori at Intesa San Paolo, Silvia Candiani, Country General Manager of Microsoft Italy, Raffaele Jerusalmi, CEO of the Stock Exchange Italiana, Giovanni Sandri, Head of Country of Blackrock Italia, Marco Sesana, Country Manager and CEO of General Italia and Carlo Tamburi, Head of Country of Enel Italia, with the testimony of Maria Paola Chiesi, Shared Value & Sustainability Director of the Chiesi pharmaceutical group , and with the conclusions of the Minister of Infrastructures and Sustainable Mobility Enrico Giovannini.
“The Report is the contribution that Cerved wants to give to the country – he declared Andrea Mignanelli, CEO of Cerved Group – to stimulate a data-driven approach to sustainability problems. Economic growth objectives can no longer be separated from sustainability objectives. The data is not sterile but can be transformed into value for companies ».
The gap
Net is unfortunately the North-South gap of the country with a strong correlation between the economic and the social and environmental dimensions. Environmental sustainability does not just mean air pollution where big cities have the worst results. But the energy transition, individual energy consumption and the use of energy from renewable sources also count. And it is precisely the areas with the most dynamic productive fabric that are the most reactive to change and reconversion. The areas with a more robust production system than the northern regions are able to guarantee citizens employment and incomes, with better welfare services and greater investments in protecting the environment and the territory. Bolzano, Milan and Bologna the most sustainable Italian provinces appear in the report while the last ones in the ranking are classified as Trapani, Agrigento and Crotone.
“The north – south divide is very strong – said Enrico Giovannini, Minister of Infrastructure and Sustainable Mobility – and it is for this reason that even in the infrastructures and in the Pnrr there will be a share of resources destined for the south as never seen before” .
Sustainable finance
According to the Report, the pandemic could lead to a loss of 65 billion in business investments in 2020-21. However, the pnrr and sustainable finance could trigger a recovery oriented towards the green transition and new social needs. «ESG finance is already conveying large amounts of funds towards sustainable projects – added Mignanelli – and banking regulation will further expand the scope of this phenomenon. Italy, with a production structure made up of small businesses, out of the radar of these investors, however, risks remaining on the sidelines: it is necessary to promote ESG reporting and provide incentives to support SMEs, so that they too can access these funds ” .
The interventions
Covid has dealt a severe blow to business investments that could fall by 65 billion euros with consequences on the sustainability of our country. In this context, finance is a fundamental tool, because with the right incentives it can channel resources towards sustainable projects. “What is missing in Italy are high value jobs – commented the CEO of Borsa Italiana, Raffaele Jerusalmi, in his speech – because we lack large companies, there are still few. We remained tied to the mantra “small is beautiful” while a bureaucratic and administrative simplification could attract more investments, not so much from abroad but from the country. We have a large amount of liquidity available that does not go sufficiently to channel itself on investments ». There are many opportunities “in working on all-round issues on sustainability, therefore not only on the environment, on governance, but also on the social aspect” said the CEO of Generali Italia, Marco Sesana, adding that we must ensure that “the next few months are of planning, thinking of initiatives, but above all they are an opportunity to understand how these things are implemented”. If Italy’s economic stagnation represents the main brake on the country’s environmental sustainability, “we have achieved the objectives we set for 2020 well in advance. We have been among the most virtuous in Europe – said the director of Enel Italia, Carlo Tamburi.— Then, for a series of reasons, this penetration of renewables in the production of electricity has slowed down a bit ». “The sensitivity of society is changing,” he said Giovanni Sandri, Head of Country of Blackrock Italia—. Finance recognizes this changed sensitivity and acts as a supporting and catalyst factor to further accelerate this phenomenon ». “The potential for an accelerated growth of the country is there but the time factor is fundamental for recovery, time that will be longer with regard to the transition,” he commented Stefano Barrese, Head of the Banca dei Territori of Intesa San Paolo. Let’s see in the simplification from the administrative point of view it is an element that allows the attraction of investments ». While a speech with a focus on digital came from Silvia Candiani, Country General Manager of Microsoft Italy, who believes that in the Recovery plan “there are significant investments for SMEs with a view to digitization and to ensure that innovation that leads to greater energy sustainability” and added that “the Plan” must be in the right direction – underlines Candiani – and I believe that in particular the investments of the Transition 4.0 plan are well studied and are based on the successful experience of recent years. To make a difference – he highlights – it is important to have a systemic initiative: to join forces. Banks, industrial companies and technological companies join forces to find new ways to accelerate the path to sustainability ».