Omnibus I: Some ESG disclosure requirements for companies postponed
On November 10th it was published in the Official Journal of the European Union il Delegated Regulation (EU) 2025/1416, which amends Delegated Regulation (EU) 2023/2772 and introduces a targeted postponement of ESG reporting obligations for specific categories of companies. The measure is part of a broader package “Omnibus I”, with which the European Commission aims to reduce administrative burdens and make the adoption of sustainability standards more gradual ESRS.
In the last years the CSRD Directive The Commission had significantly expanded the number of companies subject to ESRS disclosure requirements, including medium- to large-sized businesses and large supply chains. However, in light of the operational difficulties that emerged—from the complexity of the standards to the lack of data along value chains—the Commission proposed a revision of the scope, reserving the full obligation for companies with more than 1.000 employees. In parallel, a deadline deferment for companies that were due to report for the first time for the 2025 and 2026 financial years.
The new regulation is designed to prevent businesses from having to meet additional obligations while the reform is still being finalized. Among the main changes is the extension of the gradual nature of the obligations to businesses with over 750 employees, which will thus be able to benefit from a staggered introduction of the more complex information requirements. The postponement concerns in particular the most complex standards, such as ESRS E4 (biodiversity), S2 (value chain workers), S3 (community) and S4 (consumers), areas that require structured data collection processes and direct involvement of supply chain partners. The implementation schedule is also updated.ESRS 1 and paragraph 17 of theESRS 2, while still imposing a minimum set of mandatory information to avoid information gaps and ensure transparency towards stakeholders.
The provision will enter into force on the third day following its publication in the EU Official Journal and will apply to financial years starting after January 1, 2025Companies will therefore have operational leeway to reorganize their information flows and prepare for the full implementation of the ESRS in the coming years.
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Source: Banking Law
OECD: 91% of the global market reports on sustainability, but the challenge now is data quality
The new Global Corporate Sustainability Report 2025 OECD confirms progress in ESG reporting globally: the 91% of global market capitalization publishes sustainability information today, five percentage points more than in 2022. In total, almost 12.900 listed companies – for 125 trillion dollars of value – communicate non-financial data, testifying to a now structural change in the relationships between companies, investors and regulators.
Growth is fueled by strengthening international standards, such as CSRD e ISSB, but also by the awareness that ESG transparency is a competitive advantage. More mature companies demonstrate greater resilience to environmental and social risks, easier access to financing, and more robust governance.
Despite widespread disclosure, the picture remains mixed. Europe, the United States, and developed Asia-Pacific account for over 90% of information coverage, while the Middle East, Africa, and various emerging markets lag behind. Differences also persist across sectors: energy, finance, and technology are more advanced, while real estate continues to lag, despite being highly exposed to climate risks.
A central theme concerns the quality of information, with increasing reliance on external assurance. In 2024, the 42% of companies have had their reporting audited, although most of the audits remain of a low standard. "limited". The introduction of the international standard ISSA 5000 It aims to standardize the reliability criteria between financial and non-financial data, responding to a growing demand for comparability and credibility in reporting.
A central role is played by theinteroperability of standards. According to the OECD, the convergence between GRI, ESRS e IFRS ISSB could constitute the global reference for disclosure. More than 6.500 companies use GRI standards, 3.500 apply the SASB and beyond 1.800 European companies are already subject to the ESRS.
The report also highlights the growing commitment of governance: two-thirds of companies have ESG committees, the 70% of the boards directly supervises climate issues and the 67% connects executive compensation to sustainability objectives. The social dimension, however, remains a critical area, with only the 26% of companies that communicate data on the value chain.
Finally, the OECD recalls the decisive role of institutional investors, which hold 35% of the stakes in both the most emitting companies and the most innovative in terms of green patents. This overlap highlights the need for more active engagement by investors in guiding the sustainable transition, including through voting and dialogue with companies.
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Source: ESG News
Italy is growing sustainably: GDP rising and emissions falling
The new data Eurostat confirm Italy's role among the European countries capable of combining economic growth and emissions reduction. In the second quarter of 2025, our country was among the nine EU countries that recorded a reduction in greenhouse gas emissions accompanied by an increase in GDP, marking a further step towards a “clean growth”.
In the European Union as a whole, emissions in the second quarter of 2025 stand at 772 million tons of CO₂-equivalents, down by 0,4% on an annual basis. At the same time, the European economy is showing positive signs with an increase in GDP equal to1,3%, confirming how decarbonisation can proceed alongside growth.
Italy ranks among the most virtuous countries, along with France, the Netherlands, Denmark, Sweden, and Austria, recording a reduction in emissions while increasing GDP. This figure reinforces the country's path toward a more resilient, competitive economic model aligned with European climate goals.
At sector level, the most significant reductions concern the energy production and supply, which records a decrease in 2,9%, followed bymanufacturing industry and come on transport, both decreasing by 0,4%The domestic sector, on the other hand, represents a critical area, with an increase in emissions of1%, demonstrating the need to accelerate energy efficiency measures in homes and private consumption.
The picture outlined by Eurostat therefore confirms that the green transition It's a competitiveness factor: countries that invest in clean, renewable technologies and energy efficiency not only reduce their environmental impact but also support economic growth. For businesses and public administrations, these results represent further impetus to integrate ESG measurement and reporting tools into their management models.
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Source: ESG News
SMEs and sustainability: only 23% use subsidized financing for ESG investments.
A recent study conducted by Tinexta Innovation Hub e Fieschi Studio highlights how sustainability still represents a cultural and economic challenge for many Italian SMEs. Despite the growing interest in measuring carbon footprints and ecological transition, only 23% of companies requesting support for subsidized financing immediately includes initiatives related to ESG areas.
According to the analysis, many companies are unaware of the possibility of financing sustainability investments through public programs. Yet, among the 35% and 40% of the funds available for businesses is already oriented towards projects that integrate the environmental dimension, with tools such as Transition 5.0 and the measures SIMEST, capable of covering up to 55% of the investments made.
The report also highlights a strong territorial concentration of resources: the Mission 2 of the PNRR has allocated the 66% of funding to the North and the Centre, while in the South the 34%Lombardy leads the ranking with 5,4 billion euros allocated to green projects, followed by Emilia-Romagna, Campania, and Lazio. Most of the incentives are directed at the most energy-intensive sectors or those with the greatest territorial impact, considered strategic for the ecological transition.
The most relevant measure for 2025 remains the Transition 5.0, which combines digitalization and energy efficiency, allowing companies to access tax credits for investments that guarantee a certified reduction in consumption. This is accompanied by the SIMEST Digital and Ecological Transition, intended for companies with an international vocation.
The message that emerged from the study is clear: sustainability is not yet fully integrated into the fabric of Italian SMEs, partly due to the perception of high costs and long payback periods. However, as emphasized Roberto Davico, general manager of Studio Fieschi, sustainable investments can generate significant benefits in terms of resilience, energy savings, and competitiveness, as well as being supported by numerous subsidized financing instruments.
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Source: Il Sole 24 Ore
MPS places €500 million green bond: orders four times the offering
Monte dei Paschi di Siena Bank has successfully completed the placement of its first bond Green Senior Preferred, an emission from 500 million euro which has collected requests for approximately 2 billion, equal to four times the offering. The strong interest from institutional investors confirms the strength of the sustainable finance market and the growing attention towards ESG-linked bonds.
The bond, at a fixed rate with a duration of 6 years and 3 months and expected deadline for February 2032, provides for an early repayment option starting from the fifth year. The annual coupon is equal to 3,25%, with a final spread of 90 basis points above mid-swap, lower than both the initial indication and the Group's previous Senior Preferred issuance, reflecting an improving financial structure and particularly robust demand.
Order intake was diversified both geographically and in terms of investor profile, with significant participation from Italy, France, Germany, Austria, Switzerland, and other European countries. Also noteworthy is the significant presence of investors with ESG objectives, interested in allocating resources to projects with a high environmental impact.
The title will be listed on Luxembourg Stock Exchange and issued in dematerialized form through Euronext Securities MilanThe expected rating of the bond is Baa3 for Moody's, BBB- for Fitch and BBB for Morningstar DBRS. The transaction was managed by a placement consortium composed of some of the leading international financial institutions.
The outcome of the issue confirms the dynamism of the bond market green bonds and the strategic role of sustainable finance in directing capital towards ecological transition initiatives. For companies, this is a clear signal: transparency, governance, and ESG reporting are becoming crucial levers for attracting investment and improving the cost of capital.
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Source: ESG News
