The companies listed on the stock exchange They prove more and more transparent and attentive to sustainability. This makes them more and more inclined to integrate ESG – Environmental, Social and Governance issues – as part of its governance and the definition of corporate strategies, but also more willing to involve external stakeholders in the process of selecting sustainability objectives. This is what emerges from the seventh Consob report on the non -financial reporting of the companies listed on the stock exchange.
The Non -financial statements published during 2024 represent the Last documents published pursuant to the NFRDthe previous European directive, supplanted by Corporate Sustainability Reporting Directive (CSRD), which represents the arrival point of the process of renewing European legislation.
DNF increasingly widespread also on a “voluntary” basis
In 2024, 150 companies With ordinary shares listed on the Euronext Milan market (Exm) they published a non -financial or DNF declaration. This represented the 72% of the total of the 208 companies listed at the end of 2023 (97% in terms of overall market capitalization). Of these, 144 were obliged by current legislation, while you are did it on a voluntary basis.
A process involving stakeholders and board
All companies have carried out aanalysis to identify relevant issues reported in the non -financial declaration (materiality analysis). In this process, the percentage of the companies that involved the internal structures or bodies (equal to 77.9% compared to 82.4% of the previous detection) and, among these, the top managers (50.8% compared to 56.3%) in the identification of material issues, has decreased compared to the However, there is a greater involvement of external stakeholders, The point of view of which was taken into consideration for the identification of material themes by 73% of issuers, compared to 70% in 2023 and 66% in 2022.
The Board of Directors It was coven downstream of the material analysis process in 72% of cases, marking an increase of over 5 percentage points compared to the previous year and reaching maximum since 2019 (first year of detection).
Work and climate at the top of the priorities
27% of the companies reported connections between the list of relevant themes and the Sustainable development objectives of the United Nations (SDG), with particular attention to the objectives n. 8 (Dignified work and economic growth) and n. 13 (Act for the climate). The report also highlights that about 81% of companies provided information on their sustainability objectives and 27% cited objectives related to the climatic transition.
Sustainability changes governance and strategies
From the report it emerges that 82% of companies who published the DNF established a Sustainability committee (75% in 2023 and 70% in 2022), highlighting a growing relevance of ESG themes in discussions within the board. This evidence is accompanied by an increase in references to ESG themes and SDGs in strategic plans, detected in the Abstracts published by 67 companies.
With regard to Remuneration policiesin 2024 the companies with ordinary shares listed on Exm who integrated non -financial factors in the variable fees of the managing directors were 151 (growing compared to the 137 detected in 2023), with a share of the variable remuneration linked to ESG factors on average equal to18.8% for short -term remuneration and 20.6% for the long -term one.
Climate policies
In an addendum of the report, for the first time, the climate information contained in the budgets published in 2024 by the 32 Company of the FTSE MIBof which 20 non -financial companies and 12 financial companies, representative of about 75% of issuers listed in terms of capitalization. The analysis shows a progressive adaptation of the financial information reported in the financial statements by larger listed companies, in order to reflect the effects of climate change and the transition to an economy a zero emissions net, while remaining significant areas of improvement.
