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Corporate Governance, Sustainable Development and Value Creation

Corporate Governance, Sustainable Development and Value Creation. Alex Almici – University of Brescia (Italy). CORPORATE GOVERNANCE. SUSTAINABLE DEVELOPMENT. Corporate Governance, Sustainable Development and Value Creation. COMPANY’S VALUE CREATION (economic, social, competitive

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Corporate Governance, Sustainable Development and Value Creation

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  1. Corporate Governance, SustainableDevelopment and Value Creation Alex Almici – University of Brescia (Italy)

  2. CORPORATE GOVERNANCE SUSTAINABLE DEVELOPMENT Corporate Governance, Sustainable Development and Value Creation COMPANY’S VALUE CREATION (economic, social, competitive and environmental success) Alex Almici – University of Brescia (Italy)

  3. PUBLIC UTILITIES LISTED ON ITALIAN STOCK EXCHANGE BY THE 31 JANUARY 2011 (17 COMPANIES) Corporate Governance, Sustainable Development and Value Creation COMPANIES SELECTED SUSTAINABILITY REPORT 2007-2009 INFORMATION ANALYSED Alex Almici – University of Brescia (Italy)

  4. Corporate Governance, Sustainable Development and Value Creation CORPORATE GOVERNANCE SUSTAINABLE DEVELOPMENT 1. DO COMPANIES IMPLEMENT CORPORATE GOVERNANCE SYSTEMS PROMOTING SUSTAINABLE DEVELOPMENT? Alex Almici – University of Brescia (Italy)

  5. 1. DO COMPANIES IMPLEMENT CORPORATE GOVERNANCE SYSTEMS PROMOTING SUSTAINABLE DEVELOPMENT? Corporate Governance, Sustainable Development and Value Creation • DO PUBLIC UTILITIES COMMUNICATE • (DO THEY ARRANGE A SUSTAINABILITY REPORT)? • 2. HOW DO PUBLIC UTILITIES COMMUNICATE • (HOW IS THE QUALITY OF THE SUSTAINABILITY • REPORT)? • 3. WHAT DO PUBLIC UTILITIES COMMUNICATE • (WHAT’S THE CONTENT OF THE SUSTAINABILITY • REPORT)? GRI guidelines Alex Almici – University of Brescia (Italy)

  6. DO PUBLIC UTILITIES COMMUNICATE • (DO THEY ARRANGE A SUSTAINABILITY REPORT)? • 6 PUBLIC UTILITIES OUT OF 17 (35%) Corporate Governance, Sustainable Development and Value Creation First sustainability report and Italian Stock Exchange listing Alex Almici – University of Brescia (Italy)

  7. 2. HOW DO PUBLIC UTILITIES COMMUNICATE (HOW IS THE QUALITY OF THE SUSTAINABILITY REPORT)? 6 PUBLIC UTILITIES OUT OF 6 Corporate Governance, Sustainable Development and Value Creation Model adopted for carrying out the sustainability report *With regard to 2007, the number of companies considered is 5 instead of 6 because A2A was founded in 2008 Alex Almici – University of Brescia (Italy)

  8. 2. HOW DO PUBLIC UTILITIES COMMUNICATE (HOW IS THE QUALITY OF THE SUSTAINABILITY REPORT)? Corporate Governance, Sustainable Development and Value Creation Compliance degree as regards the GRI Guidelines

  9. 2. HOW DO PUBLIC UTILITIES COMMUNICATE (HOW IS THE QUALITY OF THE SUSTAINABILITY REPORT)? Corporate Governance, Sustainable Development and Value Creation Revision by an external subject 4 companies out of 5 in 2007 4 companies out of 6 in 2008 5 companies out of 6 in 2009 Alex Almici – University of Brescia (Italy)

  10. 3. WHAT DO PUBLIC UTILITIES COMMUNICATE (WHAT’S THE CONTENT OF THE SUSTAINABILITY REPORT)? Corporate Governance, Sustainable Development and Value Creation Shared value added, amount of investments aimed at fighting the problem of climatic change, expense percentage that can be ascribed to local suppliers ECONOMIC RESPONSIBILITY Raw materials used, consumption of direct energy, greenhouse effect gas emission, waste material produced, total water collecting ENVIRONMENTAL RESPONSIBILITY SOCIAL RESPONSIBILITY Staff turnover rate, accidents at the work place, average training hours, etc. Alex Almici – University of Brescia (Italy)

  11. ECONOMIC RESPONSIBILITY Corporate Governance, Sustainable Development and Value Creation Distribution of the value added to the stakeholders above 60% 6 COMPANIES OUT OF 6 Investments above € 1.000.000 for the management of climatic changes 3 PUBLIC UTILITIES OUT OF 6 Alex Almici – University of Brescia (Italy)

  12. ECONOMIC RESPONSIBILITY Corporate Governance, Sustainable Development and Value Creation Expenses percentage above 70% referable to local suppliers 3 COMPANIES OUT OF 6 Alex Almici – University of Brescia (Italy)

  13. ENVIRONMENTAL RESPONSIBILITY Corporate Governance, Sustainable Development and Value Creation Environmental performance trend in 2007-2009 3 COMPANIES OUT OF 6 Alex Almici – University of Brescia (Italy)

  14. SOCIAL RESPONSIBILITY Corporate Governance, Sustainable Development and Value Creation Turnover rate below 9% 5 COMPANIES OUT OF 6 Alex Almici – University of Brescia (Italy)

  15. SOCIAL RESPONSIBILITY Corporate Governance, Sustainable Development and Value Creation Frequency of Accidents at work place below 10 3 COMPANIES OUT OF 6 Alex Almici – University of Brescia (Italy)

  16. SOCIAL RESPONSIBILITY Corporate Governance, Sustainable Development and Value Creation Yearly training hours above 20 4 COMPANIES OUT OF 6 Alex Almici – University of Brescia (Italy)

  17. SOCIAL RESPONSIBILITY Corporate Governance, Sustainable Development and Value Creation Discriminating practices episodes 0 COMPANIES OUT OF 6 Presence of sanctions 0 COMPANIES OUT OF 6 Alex Almici – University of Brescia (Italy)

  18. Corporate Governance, Sustainable Development and Value Creation ECONOMIC RESPONSIBILITY ONLY 3 COMPANIES OUT OF 6 ENVIRONMENTAL RESPONSIBILITY SOCIAL RESPONSIBILITY Alex Almici – University of Brescia (Italy)

  19. Corporate Governance, Sustainable Development and Value Creation SUSTAINABLE DEVELOPMENT CORPORATE GOVERNANCE COMPANY’S VALUE 1. HAVE COMPANIES PROMOTING SUSTAINABLE DEVELOPMENT DISTINGUISHED THEMSELVES FOR THE VALUE THEY CREATED? Alex Almici – University of Brescia (Italy)

  20. 1. HAVE COMPANIES PROMOTING SUSTAINABLE DEVELOPMENT DISTINGUISHED THEMSELVES FOR THE VALUE THEY CREATED? Corporate Governance, Sustainable Development and Value Creation • AVERAGE PROCEEDS OF SALES (2007 – 2009) NON • INFERIOR TO € 1.000.000.000,00 - COMPETITIVE SUCCESS • AVERAGE EBITDA ABOVE 200.000.000 – ECONOMIC • SUCCESS • INCLUSION IN THE BASKET FOR THE ELABORATION • OF THE ETHIC INDEX FTSE4GOOD EUROPE – SOCIAL • AND ENVIRONMENTAL SUCCESS INDICATOR Alex Almici – University of Brescia (Italy)

  21. 1. HAVE COMPANIES PROMOTING SUSTAINABLE DEVELOPMENT DISTINGUISHED THEMSELVES FOR THE VALUE THEY CREATED? Corporate Governance, Sustainable Development and Value Creation ONLY ONE COMPANY, AMONG THOSE PROMOTING SUSTAINABLE DEVELOPMENT, SATISFIES ALL CONDITIONS (ECONOMIC, COMPETITIVE, SOCIAL AND EVIRONMENTAL) Alex Almici – University of Brescia (Italy)

  22. 1. DO COMPANIES PROMOTING SUSTAINABLE DEVELOPMENT DISTINGUISHED THEMSELVES FOR THE VALUE THEY CREATED? Corporate Governance, Sustainable Development and Value Creation THOSE PUBLIC UTILITIES THAT DON’T CARRY OUT A SUSTAINABILITY REPORT (10 IN TOTAL) DON’T MEET ANY OF THE CONDITIONS REQUESTED IN ORDER TO CREATE VALUE IN MEDIUM-LONG TERM Alex Almici – University of Brescia (Italy)

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