2020 Integrated Annual Report
IT

Management report

CONSOLIDATED FINANCIAL STATEMENTS

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Management report

CONSOLIDATED FINANCIAL STATEMENTS

SRI indexes and ratings8

The sustainability ratings of Italgas were reconfirmed or improved on in 2020, and its stock was included in the main international SRI stock indexes, in recognition of the sustainable approach of the company’s strategies and activities, as well as the accurate and transparent information it provides to its stakeholders.

The Italgas share was confirmed in the FTSE4Good Index Series, with a rating of 4.2 out of a maximum of 5 points. FTSE4Good gave a positive review of the Group’s responses to the rigorous criteria of the independent FTSE methodology in relation to Environmental, Social and Governance (ESG) issues.

The Italgas share was included for the second year running by S&P Global in the Dow Jones Sustainability Index (DJSI) World, with a rating of 82 points. This index includes companies that have excelled around the world in matters of sustainability. In particular, Italgas received recognition for its progress in the field of Supply Chain Management and Environmental Reporting.

Since 2017, CDP (Carbon Disclosure Project) has recognised Italgas as an international leader for the strategies and actions implemented to combat climate change. In 2020 it continued to be included in the “Climate change B List”.

The Italgas stock has been confirmed in its position in the ECPI Euro ESG Equity and ECPI World ESG Equity stock. ECPI focuses on the ESG (Environmental, Social, and Governance) performance indicators which determine the sustainability profile of an issuer. ECPI uses an objective approach, differentiated by industrial sectors in the analysis of the ESG data with the aim of translating mainly qualitative information into quantitative indicators thus assigning a score and a rating to each issuer.

In 2020, it maintained its E+ sustainability rating with a stable Outlook from the non-financial rating agency, Standard Ethics. The Standard Ethics rating is a rating of the degree to which companies and nations comply with the principles of sustainability and governance promoted by the European Union, the OECD and the United Nations.

In 2020, Italgas had its sustainability rating from ISS (Institutional Shareholder Services) upgraded to A- in the context of the ISS ESG Corporate Rating. Italgas also obtained the “Prime” rating, as well as the QualityScore recognition for the “Social” section, proving to be the leader in its sector in terms of sustainability performance.

8 Socially Responsible Investing (SRI).