ESG | CONSOB issues analysis on sustainability issues in the corporate decision-making processes of Italian listed companies

In September 2024, Consob released a report (CONSOB Report on non-financial reporting of Italian listed companies) focusing on the gradual integration of environmental, social and governance (ESG) factors in the corporate strategies of Italian listed companies in 2023. The Report shows that, following European and national regulations on sustainability reporting, the number of listed companies publishing non-financial statements (NFS) has increased (71.3% in 2023 vs. 69.5% in 2022). The Report also highlights an increasing reference to ESG topics in company board guidelines and self-assessments. In addition, more companies have appointed a board sustainability committee (75% in 2023 vs. 70% in 2022) and have also linked their CEOs’ policy remuneration to ESG factors (68.2% in 2023 vs. 58.5% in 2022). Lastly, the Report points out that (unlike the 2021 financial year, reported in 2022) all the analysed companies provided Key Performance Indicators (KPIs) to disclose whether their activities were aligned with the EU classification system of sustainable economic objectives (“Taxonomy”).

Newsletter n. 101 – November 2024