CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative
CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative
CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative
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Country/Region Standards, Codes and Guidelines<br />
Italy Mandatory standards<br />
� The EU modernisation directive (2003/51EC) was<br />
transposed into Italian law under Legislative decree<br />
no. 32/2007. It states that companies shall provide a<br />
description of employee relations and environmental<br />
performance in the directors’ report of the financial<br />
statements.<br />
� Directors’ report on financial statements, 2009<br />
issued by the Italian Accounting Association on<br />
environmental and personnel disclosures. This<br />
document is not mandatory but can be considered<br />
as the implementation of the Legislative decree<br />
n° 32/2007. The document provides an in-depth<br />
analysis on what to include in the directors’ report in<br />
compliance with the decree.<br />
� Ministerial Decree of 24 January 2008,<br />
issued by<br />
the Ministry of Social Welfare. The decree provides<br />
for the adoption of social reporting guidelines for<br />
social enterprises (imprese sociali).<br />
Voluntary standards<br />
The Social reporting standards, 1997<br />
� , and the<br />
Social <strong>Reporting</strong> in the Public Sector, 2005, issued<br />
by the Study Group for Social <strong>Reporting</strong> (GBS <strong>–</strong><br />
Gruppo Bilancio Sociale). The GBS guideline is used<br />
in preparing sustainability reports, in particular for<br />
public administration and local Italian companies.<br />
In recent years GBS published certain Research<br />
Documents, for example “Corporate Governance<br />
and CSR”, “Social reporting for the University”,<br />
“Social reporting for the Region”, “Social reporting<br />
of the intangibles”, and “Social reporting for Local<br />
Health Companies”. The second, updated version of<br />
the GBS Social reporting standards is currently being<br />
drawn up.<br />
www.gruppobilanciosociale.org<br />
Operational Guidelines for CSR in the banking<br />
�<br />
sector, 2005. The Italian Banking Association (ABI),<br />
together with the Institute for Social <strong>Reporting</strong> (IBS),<br />
has published guidelines for social reporting in the<br />
financial sector. These guidelines are used by banks.<br />
Additionally, ABI organises an annual meeting in<br />
Rome to analyse the status of sustainability reporting<br />
in the financial sector. In 2006 ABI released a new<br />
Carrots and Sticks - Promoting Transparency and Sustainability<br />
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