The degree of responsibility of an organisation. It can also be referred to as “reporting principle” or “evidence of responsibility”. It includes two different meanings: either a clear, exhaustive and comprehensible sharing of data with third parties or the need to adopt self-awareness mechanisms in businesses and corporate networks as regards the use of resources and production of results.

A direct benefit given by the organisation under the form of financial contribution, provision of health-care or reimbursement of the expenses incurred by the employee.

Six different types of resources using which a business can generate value.

Financial capital: financial resources (forms of financing, equities, etc.) that are invested to manufacture goods or provide services;

Productive capital: tangible resources (buildings, plants, equipment, etc.) that are used to manufacture goods or provide services;

Intellectual capital: intangible resources, namely the organisational capital and value of know-how; 

Human capital: competences, skills and experience of people and their motivation to innovate; 

Social and relational capital: capability to share information to increase the well-being at individual and community levels; 

Environmental capital: environmental processes and resources that supply goods or services for the success of an organisation. 

Total amount of greenhouse gas emissions, expressed as CO2 equivalent, directly or indirectly associated with a product, an organisation or a service.

This measure requires identifying and quantifying the consumption of raw materials and energy during the phases selected in a product’s life cycle.

This index determines the quality and sustainability of businesses.

The Environmental Certification is the issue of professional advice by an independent third party. 

The Environmental Report Certification covers completeness, understandability and reliability of the Environmental Report produced by an organisation.

The Certification of the Environmental Management System attests the level of compliance of the organisation’s Environmental Management System with the requirements of the applicable standard/s.

Document containing the social and moral rules of a business that all its members must respect. The Code of Ethics defines the in-house and out-house ethic and social responsibilities and the values that the organisation maintains and shares.

Proposal of the European Commission to amend the Non-Financial Reporting Directive (NFRD) of 21 April 2021. The proposal sets the basis for a consistent and effective flow of information about sustainability all along the financial value chain, which will also prove beneficial to the other stakeholders. 

The information released by the businesses will be made available to individuals and bodies, such as bank analysts, insurance companies, asset management companies, rating agencies, NGOs, final investors and other stakeholders wishing that companies would become aware of their social and environmental impact. 

The CSRD is meant to guarantee that corporate sustainability reports meet the requirements of the financial market players subject to information obligations provided for in EU Regulation 2019/2088 “Sustainability‐related disclosures in the financial services sector”.

Production and consumption model based on sharing, reusing, repairing, reconditioning and recycling materials and products. Its ultimate goal is to extend their life cycle, reintroduce materials in the economic cycle, thereby generating new value, and contribute to waste reduction.

ESG data provide a measure of corporate sustainability and are used to evaluate the activities of an organisation not only in terms of finance and governance, but also from the environmental and social points of view.

International no-profit body established in the aim of setting sustainable performance reporting standards for the organisations belonging to whatever industry or country.

The GRI has developed the “GRI Standards” as a reporting framework meant for the organisations.

Individuals or group/s of individuals (such as the board of directors or a corporate trustee) responsible for supervising the strategic management of an organisation and its obligations in terms of responsibility and administration. For some organisations and jurisdictions, those entrusted with governance may include executive management. 

Major global reference standards for sustainability reporting of organisations.

The GRI Standards provide the organisations and the stakeholders with a common language through which they can communicate and understand the sustainability performances of the organisations.

A report prepared in compliance with the GRI Standards offers a complete picture of an organisation’s material topics, their financial, environmental and social impacts and how such impacts are managed. 

An international body and major developer of international voluntary standards that are accepted by more than 160 countries through their national standardisation bodies.

It is aimed at harmonising the standards issued by national standardisation bodies as regards technical and metrological procedures. Its directives are defined at international level and referred to as ISO standards. 

Investments meant to prevent, reduce and repair the damages made to the environment, to the exclusion of all costs incurred by a business or a public body to fulfill the legal obligations requiring the update of production methods in view of environmental protection.

Performance indicators are indexes that reflect the critical factors for the success of an organisation and measure the results obtained, thereby showing the effectiveness with which a business, a team or a sector pursue their objectives. 

KPIs supply ex-post measures, i.e. information on whether an objective has been reached or not, possibly together with a gap analysis.

Risk indicators are predictive indexes of unfavourable events that may negatively affect the organisations. They are used to constantly monitor risk exposure and contribute depowering the company negative actions in advance in view of avoiding crises and mitigate issues in time.

KRIs provide ex-ante measures, i.e. they foresee the events that might have an impact on corporate performances and attainment of objectives.

Recommendations addressed by the governments to multinational companies that operate in or from OECD countries and to small and medium businesses that are required to implement them as much as possible.

These guide-lines provide principles and standards that are not binding for an environmentally responsible company management in a global context, consistently with applicable law provisions and internationally acknowledged standards. 

In accordance with their possibilities, the companies are required to urge their business partners to apply and respect the principles for a responsible entrepreneurial behaviour as set out in the guide-lines.

A resource that is not replenished in a short time, such as minerals, metals, oil, gas and coal.

Material that is used again and replaces virgin materials purchased or obtained from internal or external sources. Sub-products and production waste are not recycled materials.

Material that is derived from plentiful resources that are quickly replenished by ecological cycles or agricultural processes. Consequently, the services provided by these and other linked resources are not endangered and remain available for the next generations. 

Organisational and Management Model established in Italian Legislative Decree 231/2001. It includes all of the protocols laid down to govern and define the corporate structure and the management of its sensitive processes. 

When applied correctly, Model 231 reduces the risk of criminal offences being perpetrated.

It allows businesses to be relieved of the crimes attributed to individual employees and to request exclusion or limitation of their liability deriving from any of the crimes listed in the decree.

It can also be regarded as a preventive system in as much as it promotes respect of corporate liability standards inside the organisation.

Implementing the Organisational Model 231 is a voluntary obligation and is strictly connected with the ESG approach.

Concept that describes the outcomes a report is expected to achieve and guides the decisions made throughout the reporting process around report content or quality.

An integrated report is a communication tool used to briefly illustrate how the strategy, governance, performances and prospects of an organisation, in the context of its external environment, lead to the creation, preservation or erosion of value in the short, medium or long term.

Voluntary integration of social and environmental worries in corporate processes, operations concerned, business operations, decision-making and company-to-stakeholders relations.

SDGs are the 17 sustainable development goals of Agenda 2030 signed by the governments of the 193 UN member countries in September 2015. 

These goals are universally valid, for which reason the countries should contribute to reaching them in accordance with their capabilities. They are aimed at ending poverty, fighting inequality, supporting social and economic development, coping with climate changes and building peaceful societies by the year 2030.

Any entity or individual that can be influenced by the activities, products and services of the organisation or whose actions may affect the organisation’s capability to implement its strategies and successfully reach its objectives.

Stakeholders include subjects directly involved in the organisation, such as employees and shareholders, or that hold different types of relations with the organisation, such as collaborators, suppliers, vulnerable categories, local communities, NGOs and other organisations of the civil society.

When making decisions on sustainability reporting contents, the organisation should involve its stakeholders to understand their reasonable interests and expectations.

Development that currently satisfies the needs of the present generation without impairing the possibility of next generations to realise and satisfy theirs.  

Sustainable development includes the financial, environmental and social aspects and makes reference to wider environmental and social interests and not to those of the single organisations. 

A topic is considered to be material when it can significantly influence an organisation’s capability of generating value in the short, medium or long term. 

The concept of shared value refers to an entrepreneurial model where a company’s search for financial success and competitive edge includes decisions and strategies with environmental and social aspects. Professors Porter and Kramer promoted the “shared value” topic in an article published by the Harvard Business Review in 2011.