Obiettivi formativi
The course aims to provide students with the main concepts on Sustainability Reporting Standards. Students will have the opportunity to understand the evolution of the sustainability reporting also from guests’ lectures who have a direct experience in the development of the sustainability framework and its implementation.
Prerequisiti
None
Risultati di apprendimento attesi
Knowledge of the notions and concepts of the Sustainability Reporting.
Contenuti Del Corso
KNOWLEDGE AND UNDERSTANDING: the student will have acquired the knowledge of the underpinning principles of Sustainability framework and their implementation in individual sustainability standards; APPLYING KNOWLEDGE AND UNDERSTANDING: the student will have achieved the ability to interpret and analize sustainability reporting information; MAKING JUDGMENT: the student will have developed the ability to formulate critical judgments on Sustainability Reporting; COMMUNICATION SKILLS: the student will be able to communicate his understanding of underlying principles in an appropriate technical language; LEARNING SKILLS: the student will have acquired the learning skills necessary for the continuation and conclusion of studies independently.
Testi Di Riferimento
CSRD European Directive. ESRS issued by EFRAG. ISRS issued by IASB. Slides – teaching materials
Metodologie Didattiche
Lessons, case studies, conferences
Modalità di verifica dell'apprendimento
The student will be assessed through a written exam (2 terms) consisting of questions aimed at assessing both the knowledge and understanding of key concepts and the student's ability to re-elaborate the concepts acquired. In addition to the written exam, students are expected to participate in discussion of case studies, organized in teams. These activities will allow students to implement their skills in terms of critical thinking, management, teamworking, effective communication of the results.
Criteri per l’assegnazione dell’elaborato finale
Research skills
Settimana 1
The disclosure of non-financial information is considered as vital for managing change towards a sustainable global economy by combining long-term profitability with social justice and environmental protection. The evolution of non-financial reporting: · From Non-Financial Reporting Directive to Sustainability Reporting Directive; · Process towards European Sustainability Reporting Standards (ESRS); · The International approach to Sustainability
Settimana 2
The Corporate Sustainability Reporting Directive (CSRD): Scope, Main concepts, Responsibilities. Starting in 2025, the European Union will require large and listed companies to disclose information on risks and opportunities related to their Environmental, Social, and Governance (ESG) practices.
Settimana 3
The mapping and prioritization of sustainability issues Double materiality as the basis for sustainability disclosures Undertaking a 'double materiality' assessment is mandatory under the CSRD: companies reporting on sustainability must consider the relevance of a sustainability matter from two perspectives. On the one hand, organizations have an impact on people and the environment (the inside-out view). On the other hand, sustainability-related developments and events create (new) risks and opportunities for organizations (the outside-in view).
Settimana 4
The data collection and analysis process Stakeholder engagement Stakeholders are central to a double materiality assessment and the ESRS (Standards connected to the CSRD) introduce new considerations with regards to the groups of stakeholders to involve. Stakeholder mapping can be a useful tool to determine which groups to directly involve in the materiality assessment.
Settimana 5
Boundaries of the reporting: the concept of value chain. The reporting undertaking for the sustainability statements shall be the one retained for the related financial statements. The information about the reporting undertaking provided in the sustainability statements shall be extended to include information on the material impacts, risks and opportunities connected to the undertaking through its direct and indirect business relationships in the upstream and/or downstream value chain (“value chain information”).
Settimana 6
First interim examination Cross-cutting standards ESRS 1 - General Requirements and ESRS 2 - General disclosures. These standards outline essential principles and disclosure requirements that are universally applicable, regardless of the specific sustainability subject matter.
Settimana 7
Measuring environmental impact (E): typical areas and measurement challenges: - Climate change - Pollution - Water and marine resources - Biodiversity and ecosystems - Resource use and circular economy
Settimana 8
Measuring the social impact (S): typical areas and measurement challenges: - Own workforce - Workers in the value chain - Affected communities - Customers & end-users
Settimana 9
Measuring the quality of governance (G): typical areas and measurement challenges: - Business Conduct
Settimana 10
Recognizing the diverse nature of industries, the ESRS framework evolves to include sector-specific standards tailored to address the unique sustainability aspects and reporting needs inherent to different sectors. Sector specific Standards: focus on Financial Institutions and Insurance companies.
Settimana 11
Sustainability Reporting Standards for SMEs under the CSRD
Settimana 12
Course RECAP and second interim examination