Italian ESG Observatory Expands Scope, Honors Sustainability Leaders
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A new report from the Italian ESG Observatory reveals a significant expansion in its assessment of listed companies, alongside the introduction of key indices and an annual award recognizing sustainability excellence. The findings underscore a growing emphasis on ESG (Environmental, Social, and Governance) factors within the Italian market, particularly among small and medium-sized enterprises (SMEs).
The Observatory, in its ninth edition, has broadened its perimeter to encompass 344 listed companies, marking a substantial increase in coverage. This expansion is coupled with the implementation of three new synthetic indices – the ESG Awakeness Index, Sustainability Monitoring Index, and Sustainability Governance Index – designed to provide a nuanced classification of company performance.
Deepening Analytical Focus
A recent survey indicates that 35% of the companies approached participated in the ObservatoryS assessment, representing a response rate of 122 businesses. This participation allowed for a more in-depth analysis of critical emerging issues, including the risks associated with online reputational damage stemming from social media activity and the pervasive challenge of greenwashing.
“the Observatory is providing a crucial service by identifying and quantifying these ofen-intangible risks,” one analyst noted. A extensive summary of the updated results will be available on the Sole 24 Ore website, within the sustainability section, beginning this Saturday at www.ilsole24ore.com/sez/sostenibilita/osservatorio.
Preparing for CSRD Regulations
The Observatory’s work is particularly timely, as it serves as a valuable training ground for Italian SMEs navigating the evolving landscape of sustainability reporting. The initiative is helping companies proactively measure their maturity level in ESG practices, well in advance of the broader implementation of the Corporate Sustainability Reporting Directive (CSRD), which will extend reporting obligations to an increasingly large segment of businesses.
Recognizing Sustainability Champions
This year’s edition also marked the introduction of an annual award designed to celebrate companies demonstrating a strong alignment between their stated sustainability strategies, concrete objectives, and measurable results.The award ceremony was integrated into the 24 Ore Group’s calendar of sustainability events,featuring a webinar titled “Sustainability 2.0: a outlook beyond the rules.”
Six companies were ultimately recognized for their achievements,selected based on a rigorous methodology developed by the University of Milan-Bicocca. Masi Agricola secured the top honor in the Euronext Growth Milan category. Italmobiliare, listed on the Euronext market, achieved an “excellent” score according to the indices, followed closely by Sesa, El.En, Iren, and Sit, all receiving equal recognition.
The Observatory was founded in 2015 by the Sole 24 Ore, in collaboration with the University of Milan-Bicocca, to assess the integration of ESG principles within Italian listed companies. Why did it start? To address a growing need for standardized ESG evaluation in the Italian market. Who is involved? The sole 24 Ore newspaper and the University of Milan-Bicocca are the primary drivers, with participation from 344 listed companies. What does it do? It assesses companies, creates indices, and awards sustainability leaders. How did it end (this cycle)? With the awarding of six companies for their sustainability achievements at a webinar, recognizing Masi Agricola as the top performer in the Euronext Growth
