Workshop, the EU proposal for a “Corporate Sustainability Reporting Directive (CSRD)”

Decade of Action” Workshop

The EU proposal for a “Corporate Sustainability Reporting Directive (CSRD) “.

Impact and challenges for Italian companies

 

DATE: February 17, 2022, 09,30 a.m.

DURATION: 4 hours

FORMAT: presence and online

LOCATION:  Hotel Meila, Milano (Via Massaccio,19 – Fiera Milano City) – For access to the conference room, it is necessary to be accredited by sending an email to istituto@eurispes.eu

ONLINE:     https://us06web.zoom.us/webinar/register/WN_BwgZbaUDTLaHat2OFs2bKQ

METHODS: Presentation of the thematic area; 2 In-depth sessions. Interventions and open discussion with participants.

Conclusions

 

Objectives

  • to introduce the concept of circular models and the role that businesses can play within them
  • to inform and reflect with active representatives of the business sector about the new rules proposed by the European Commission on sustainability reporting and discuss their practical impacts
  • to understand the expected impact on directors’ liability
  • to present Eurispes’ initiative for establishing a “Laboratory on Sustainability” as a permanent working table, open to the collaboration of scholars, experts and operators, to study in-depth the opportunities and cross-compliance for businesses with the acceleration process towards a model of sustainable development launched with the “Decade of Action” promoted by the United Nations, the EU and the governments.

Foreword

Four starting points:

  • At the end of April 2021, the new European directive on non-financial reporting, called ” sustainability reporting “, was presented. The directive will be operational from 2023 and contains two important innovations:
  • It redefines the obligation for companies to prepare a sustainability report (from 20mil turnover).
  • It defines the standards and metrics (in other words, the principles) to be followed in compulsory reporting (with the consequence that it will no longer be possible to report on the basis of one’s own criteria).
  • In addition, accountability will have to be verifiable, and it will also have to be both final and prospective (the company will have to show not only what it has done in the past but also what it plans to do in the future).
  • The European Banking Authority (EBA) has already issued a document that makes it compulsory for banks to report on the sustainability of their investments (in terms of Social and Environmental Governance – ESG) and has defined a series of ESG risk indicators that must be included in the algorithms for assessing customers (a process that is already being applied regardless of the directive and is being considerably accelerated ).
  • Large companies that have already introduced ESG and sustainability certification systems require information and compliance from the supply chain in order to be able to certify the sustainability of their products; a conditionality that leads to the replacement of suppliers who do not submit sustainability reports (this process is also underway regardless of the application of the provisions of the European directive).
  • At the international level, for example in the USA and Germany, concrete signs are emerging: those entrepreneurs who neglect to indicate the sustainability standards applied (ESG) in their reporting, or who apply inconsistent or erroneous standards, thus hiding misleading operations or even greenwashing, are subject to prosecution.

Programme

8.30 Start of participants’ registration and welcome coffee

9.30 Introduction of the thematic area

The opportunities – cross-compliance for the Italian business sector with the new international guidelines on non-financial sustainability reporting. International scenarios. The reasons for an in-depth study.

Prof. Fabrizio Zucca, Member of Eurispes Scientific Committee

 

9,45 First Session (duration 60 minutes)

The new European legislation (Corporate Sustainability Reporting Directive and EU Taxonomy). EBA guidance on ESG risk management.

 

Prof Luca Brusati, University of Udine / Bocconi University
Francesco Bicciato, Secretary-General of the Forum for Sustainable Finance
Luca Fornaroli, partner SSC

10,45 Coffee Break

 

11.15 Second Session

Concrete impact of the new provisions for companies and the business world

Alessandro Bielli, Assolombarda
Giulia Genuardi, Head of Sustainability & Performance Management, ENEL and member of the Global Standard Sustainability Board, Global Reporting Initiative
Giovanni Tartaglia Polcini, Legal Advisor to the Ministry of Foreign Affairs and International Cooperation, Eurispes Scientific Committee
Lorenzo Pagliuca, Member of Confindustria’s Technical Group on Taxation
Federico Busatta – Gianni Origoni Law Firm
Costantino Chessa – Head of Procurement – ENI Group

Moderator: Andrea Delogu, Deputy News Director Mediaset Group

 

12,15 Final remarks

Gian Maria Fara, President of Eurispes, Final remarks

Announcement and information about the launch of the Eurispes Laboratory on Sustainability.

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