Climate change, awareness of Italian companies is growing

And more interest in reorienting business models in the direction of the climate and energy transition

“We register a growing awareness of Italian listed companies for the climate changeat least as regards the mitigation of emissions of greenhouse gases. We are also witnessing the gradual overcoming of the mere reduction of risk in favor of a strategic review of business models, not only by companies belonging to the most exposed industrial sectors “. Stefano Pareglio, full professor and Independent Senior Advisor of Deloitte Italy, presenting the results of ‘Climate disclosure in Italian listed companies. Report on the implementation status of the Recommendations of the Task Force on Climate-related Financial Disclosures (Tcfd) ‘, prepared in collaboration with the Department of Economic and Business Sciences of the University of Pavia.

The survey on the state of implementation of the TCFD Recommendations was conducted on the basis of public documents concerning the climatic disclosure of 236 listed companies, 212 of which belonging to the Ftse Mib, Ftse Italia Mid Cap, Ftse Italia Small and Ftse indices. Italy Star. From the analysis conducted, it emerges that the Italian listed companies are substantially in line with the trends highlighted by the global report ‘2021 Status Report’ of the Tcfd.

Compared to past years, in particular, there is a sharp rise in companies’ awareness of the materiality of climate change, evidenced by the growing interest in reorienting business models in the direction of climate transition and energy and the evident greater willingness to report in a transparent way both the commitments undertaken and the results achieved.

However, the report reveals a number of aspects on which it is necessary to act more quickly, ranging from the reduced skills of the board members in the field of climate change, to the still poor dissemination of adaptation measures and commitments for carbon neutrality, up to the reduced incidence of climate change in remuneration policies.

“The report – continues Stefano Pareglio – highlights the need for a further, significant evolution of governance and of the tools necessary to manage the energy and climate transition. Specialist competence of directors, evolution of business models, consistency in capital allocation, quality and role of scenario analysis, stringent commitment to carbon neutrality, adoption of adaptation measures: there are still many areas for improvement for listed companies , not only in our country “.

In detail, the results of the Report show that almost all of the sample (94%) now recognize climate change as a material issue and 70% integrate the risks and opportunities deriving from climate change in their risk management processes. It also appears that 29% of the companies have a remuneration policy with objectives linked to climate change and that 67% adopt processes aimed at improving the performance of their supply chain, albeit with different levels of maturity. The awareness-raising action towards stakeholders is also spreading: more than half (57%) of listed companies declare that they carry out awareness campaigns on the issue of climate change and sustainability.