- Funding Programme
- Year
- 2023
Improving ESG data availability and sustainability corporate reporting in Italy
The Commission is helping the Italian Ministry of Economy and Finance (MEF) enhance the availability and quality of Environmental, Social, and Governance (ESG) data. The project consists of mapping ESG data sources and existing data gaps in the context of requirements from the Corporate Sustainability Reporting Directive (CSRD) and the EU Taxonomy Regulation. The project is also aimed at designing a data hub for facilitating access to relevant ESG data, designing a reporting template for non-listed SMEs, and capacity building for the private sector related to ESG challenges and reporting.
Context
The Italian government has taken a proactive approach in supporting its businesses in the adoption of the ESG reporting frameworks. There is a strong project focus on the SME sector, in particular for non-listed SMEs, where business owners are stretched to fulfil multiple regulatory requirements with limited resources. There is a particularly strong need to facilitate the collection of relevant indicators/information that could drive the reporting of those companies to banks and other investors which the delivered support is addressing.
Support delivered
The project developed a map of existing ESG data in Italy, looking at national and international sources, and at the same time identifying gaps in data collection and availability, considering EU legislative requirements and international best practices. Based on the findings of the mapping exercise the provider is developed a concept for a public data hub to make ESG data more accessible and usable for businesses and financial institutions, looking into the most suitable legal and technical set-up including the ownership, governance, and maintenance features.
A document for the dialogue of non-listed SMEs with banks which aims at SMEs’ ESG data disclosure accompanied by a methodology for providing and calculating the relevant information has been provided. An e-learning course on ESG challenges aimed at businesses has been put together, complimented by a webinar on the exchange on best practices on ESG-related capacity building for SMEs in Italy.
Expected Results
The project has contributed to better knowledge on availability and quality of ESG data in Italy. The materials addressed to companies should improve their understanding of ESG challenges, the relevant ESG data, and enable them to more easily assess their exposure to climate and environmental risks.
More about the project
You can read the documents related to the project here: