ESG priorities for 2026: environmental transition, regulatory quality, and human capital
Sustainability enters a more complex and fragmented global context in 2026. Amid geopolitical tensions, transforming value chains, and new climate policies, European companies are challenged to manage the environmental transition while maintaining competitiveness and innovation capacity.
Secondo Lara Ponti, Vice President for the Environmental Transition and Confindustria's ESG Goals, the ESG priorities for next year focus on three main areas: managing the environmental transition in a heterogeneous global context, improving the quality of regulation and strengthening human capital.
The first challenge concerns the climate transition management In an international context characterized by widely differing approaches among major economies, this asymmetry directly impacts production chains and industrial investment decisions. For this reason, sustainability and competitiveness must go hand in hand: environmental policies must be accompanied by industrially effective tools and clear operating conditions for businesses.
A second priority concerns the quality of regulationThe sustainable transition requires long-term investments and therefore stable, proportionate, and enforceable rules. In Europe and Italy, environmental legislation is among the most advanced, but the challenge lies primarily in implementation. Simplifying procedures and reducing authorization times can make environmental policies more effective and foster innovation and investment.
The third element concerns the human capitalThe ecological and digital transition requires increasingly advanced skills, but Europe—and Italy in particular—faces a growing talent shortage. The low birth rate, limited number of graduates, and the reduced labor market participation of young people and women are factors that can limit the production system's capacity for innovation.
Investing in training, research, and labor force participation therefore becomes essential to supporting economic transformation and strengthening business competitiveness.
Taken together, these dynamics point to a clear direction: sustainability is no longer just an environmental objective, but a structural component of industrial policy and the growth capacity of European economies.
🔗 For more information: info@iniziativa.cc
Governance: The role of ESG incentives in managerial compensation is changing.
In recent years the integration of ESG criteria in executive incentive systems It had been presented as one of the most significant evolutions in corporate governance. Between 2021 and 2023, many large companies had begun to connect part of their variable remuneration of top managers to achievement of environmental, social and governance objectives, with the aim of aligning corporate leadership and long-term value creation.
In recent months, however, this approach has been revisited. Some large corporations have begun to scale back or remove the formal link between ESG performance and executive compensation systems.
One of the most controversial cases is that of Apple, which eliminated the so-called "ESG modifier" from its compensation plans. The mechanism, introduced in 2021, allowed the board of directors to adjust top managers' annual bonuses based on their compliance with certain Apple Values objectives, including reducing emissions and using recycled materials. The system was eliminated in 2025, while maintaining the company's public commitments to climate goals.
Similar choices have been made by other large companies such as Starbucks, Salesforce, Mastercard and Procter & Gamble. According to surveys by The Conference Board and ESGAUGE, the share of companies and link executive pay to environmental metrics she went down to 46,7% in 2025, compared to 52,6% recorded in 2023.
This revision also stems from a growing focus on the quality and measurability of ESG objectives. In many cases, environmental or social targets were less stringent than financial ones, with very high achievement rates that reduced their effective incentive capacity.
This phenomenon does not necessarily indicate a retreat from sustainability strategies. Rather, many companies are trying to integrate ESG factors directly into industrial strategy And in the risk management systems, avoiding treating them as simple accessory elements of pay systems.
The challenge for the coming years will therefore be to increasingly clearly connect sustainability, economic performance, and long-term resilience, making ESG a structural component of corporate governance.
🔗 For more information: info@iniziativa.cc
Energy transition: Renewables are growing in Europe, but competitiveness also depends on efficiency.
The European energy system is undergoing a significant transformation. According to the reporting. Energy in Europe 2026 published by Eurostat, in 2024 the renewable energy have become the main source of energy production of the European Union, reaching the coverage of 48% of internally produced energy. This is a significant achievement, demonstrating the acceleration of the energy transition in recent years.
Despite this progress, the overall picture remains complex. energy mix European continues to be in fact dominated by fossil fuelsOil and gas still account for the largest share of energy consumed in the EU, while renewables cover around 20% of available energy. Added to this is a strong dependence on foreign countries: beyond the 57% of the energy consumed in the Union is imported from third countries, with oil and petroleum products accounting for about two-thirds of energy imports.
This scenario highlights a double challenge for Europe: on one side accelerate the development of renewable sources, on the other improve the energy efficiency of production systems and buildingsFrom this perspective, the energy transition is not just about replacing fossil fuels, but also about structurally reducing consumption.
The integration of energy efficiency and renewables can represent one of the main economic drivers of decarbonization. According to a study presented by ACT, interventions designed in an integrated manner – for example by combining energy requalification and the installation of renewable systems – can generate significant economic benefits in addition to reducing emissions.
The analysis shows that the net present value of investments can increase by up to 29% in public buildings, while growth reaches 11% in condominiums and 10% in energy-intensive industries. Integrated design allows for reduced unit costs of CO₂ abatement thanks to synergies between technologies and better system sizing.
In this scenario, the energy transition increasingly appears as a lever not only for environmental but also for industrial purposes. The challenge for the coming years will be to transform the growth of renewables into a more efficient, resilient, and competitive energy system, capable of reducing dependence on foreign sources and supporting long-term economic growth.
🔗 For more information: info@iniziativa.cc
Gender diversity and credit risk: companies with more women in management fail less
The presence of women in leadership roles can help strengthen the solidity of companies. According to an analysis conducted by Cerved Rating Agency of over 13 thousand Italian capital companies with active credit rating, the companies with greater female representation in management in fact they show a lower average default risk.
In particular, in companies where at least 20% of top management positions are held by women, the average probability of default is 4,7%, compared to 5,8% recorded in companies with a female presence below this threshold. The data suggests a correlation between major gender balance in top management e more robust governance models, often associated with more prudent risk management.
This trend is evident in various sectors of the economy. In manufacturing, for example, the probability of default drops from 4,2% to 3,6% in companies with a higher female presence in management, while in trade it drops from 4,6% to 3,7% and in services from 5,2% to 4,3%. Only in the construction sector are the differences more limited.
The effect appears particularly evident among small businesses, where the presence of women in decision-making roles is associated with a more significant reduction in credit risk than in larger companies.
These findings are part of a European context where female participation in the labor market and in management positions remains limited. According to Eurostat, in 2024, the female employment rate in the European Union was 70,8%, compared to 80,8% for men. Even in leadership roles, the gap remains evident: only approximately one-third of management positions are held by women.
Overall, the data indicates that gender diversity is not just a matter of equity or inclusion, but can also become a factor in the quality of governance and the economic and financial resilience of companies.
🔗 For more information: info@iniziativa.cc
Climate adaptation: the new ISO 14092 strengthens territorial resilience planning
Adaptation to climate change is taking on an increasingly central role in the sustainability strategies of governments and organizations. In this context, the new ISO 14092: 2026, the international standard that provides guidelines for developing and implementing climate adaptation plans at local and territorial levels.
Published by the International Organization for Standardization, the standard updates and replaces the previous technical specification from 2020, introducing more structured indications for transform climate risk analysis in concrete and monitorable interventions .
Lo standard covers the entire adaptation cycle: from the definition of context and from the analysis of the vulnerability until the selection of the priority measures, to their implementation and the review of the results. The goal is to support organizations and communities in systematically managing climate-related physical risks, such as extreme weather events, heatwaves, or floods.
Although having been designed primarily for local governments and territorial communities, ISO 14092 It can also be applied by companies, utilities and infrastructure operators who face climate risks related to the territory in which they operate. The standard's structure is flexible and scalable, allowing its application to be adapted to organizations of varying sizes and complexities.
The new version particularly strengthens the phase of implementation of adaptation measures, introducing more detailed guidance on monitoring and evaluating the effectiveness of interventions. In this way, the standard facilitates the transition from declarative strategies to truly implementable operational plans.
Although it is one voluntary standard, the adoption of ISO 14092 can also to ease alignment with the main European regulatory frameworks on sustainability, such as CSRD , EU Taxonomy, which require increasingly structured management of climate risks.
Overall, the new regulation represents a further step towards a more systematic approach to climate resilience, helping to strengthen coordination between risk analysis, spatial planning, and transition investments.
🔗 For more information: info@iniziativa.cc
