The results of the 2022 Consob Report on Non-financial reporting published

Summary:

A recent report by Consob highlights the growing importance of Environmental, Social, and Governance (ESG) factors in determining executive compensation in Italian quoted companies. In 2022, ESG factors contributed to the compensation of 127 companies' CEOs, representing 58.5% of the total, a significant increase from 106 companies (47% of the total) in the previous year. The report also notes a growing trend of integrating ESG factors into business strategy, with 13 companies having a complete integration of their strategic plans and ESG objectives. The report includes an addendum with results of the first year of application of the EU's taxonomy regulation, highlighting that the median value of revenue associated with activities compatible with the European taxonomy is 22.8% among 22 non-financial companies in the FTSE Mib index.