Corporate Governance Code, 2015

Italy Current 2015

The Italian Corporate Goverance Code (updated in 2015) is issued by the Corporate Governance Committee, a committee instituted by business associations (ABI, ANIA, Assonime, Confindustria), professional investors (Assogestioni) and Borsa Italiana S.p.A. Article 1 of the Code provides that board directors shall define the risk profile taking into account any risk that may affect the sustainability of the issuer’s business in a medium to long term perspective. Moreover, as for the companies belonging to the FTSE-Mib index, the board of directors shall consider whether or not to set-up a committee having the task to supervise sustainability issues related to the relevant business and to its interactions and communications with stakeholders. Alternatively, the board will consider whether to assemble or allocate such tasks among other committees. In addition, the Corporate Governance Committee argues that, at least in the companies belonging to the FTSE Mib index, an adequate internal control and risk management system shall provide for an internal system allowing company employees to report any irregularity or breach of the applicable laws and internal procedures (whistleblowing systems).

Scope

General sustainability/ESG/non-financial

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

All listed companies

Issuer type

Industry Regulators

Type of instrument

Code of conduct or guideline

Mandatory or voluntary

Voluntary

The geographical scope

National/federal

Project Partners