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).
Industry sectors covered by the instrument
Organizations covered by the instrument
All listed companies
Type of instrument
Code of conduct or guideline
Mandatory or voluntary
The geographical scope