MORE AND MORE COMPANIES ARE READY TO IMPLEMENT SUSTAINABILITY STRATEGIES TO GENERATE ECONOMIC VALUE
More and more companies want to implement its sustainability strategy to generate economic value.
With the entry into force in January 2017 of Legislative Decree no. 254 of 30/12/2016 a legislative novelty that transposes the European Directive 2014/95/EU concerning the communication of non-financial information and information on the diversity from part of certain large enterprises and groups was introduced in the Italian legal framework.
The obligation relates to public-interest undertakings which, on average, had more than 500 employees during the financial year and on the balance sheet date exceeded at least one of the following two size limits: a) balance sheet total € 20,000,000; b) total net sales and services revenues: € 40,000,000.
The decree, with respect to the European Directive, provided for the possibility for companies not in the public interest or large, to be able to prepare a non-financial statement in accordance with the provisions.
| ORGANISATIONS | NON-FINANCIAL DECLARATION |
| Relevant public interest entities (RPIE) | Mandatory according to the provisions of Legislative Decree 254/2016 |
| Listed Companies | Mandatory if RPIE, otherwise voluntary |
| Non-listed companies and other limited liability companies | Voluntary |
| Banking and financial companies and securities firms | Mandatory if RPIE, otherwise voluntary |
| Insurance companies | Mandatory if RPIE, otherwise voluntary |
| Central and local public authorities | Voluntary |
| Third sector enterprises | Mandatory in the cases in which it is previewed from the decrees implementing of Law 106/2016 of reform of the third sector |
| Banking Foundations | Mandatory |
| Social Enterprises | Mandatory in the cases in which it is previewed from the decrees implementing of Law 106/2016 of reform of the third sector |
Reporting is considered a process by which an organization describes the economic, social, and environmental impacts of its activities in relation to its internal and external stakeholders. It is also a means of communicating its commitments to sustainable development.
Through a diverse team of skills, Studio STS can offer complete assistance in the reporting process through the preparation of the Sustainability Report.