It’s official: Standard Ethics has concluded the composition of its first Sustainability Index based on Mid-Cap companies quoted on the Italian Stock Exchange. It is called SE Mid Italian Index; calculated at the close of the market on 2nd December 2022, it has been operative since Monday 5th December. It will be reviewed annually in March and in September.
To create the index, 20 companies were selected that have distinguished themselves in terms of sustainability, and Zignago Vetro is one of these. This gives us cause for great satisfaction, because it certifies the important positioning that our Group has achieved regarding sustainability. It reminds us that our actions, if we undertake them seriously, are effective and build a better world for both the present and the future.
A technical note: the companies making up the index have been selected based on their significance in the market. The importance of the individual components of the index derives from the Corporate Standard Ethics Rating (SER), solicited or unsolicited, awarded to each company. As regards Zignago Vetro, our presence in the index is a potential opportunity for our stock should any institutional investors decide to select the SE Mid Italian Index as a benchmark.
The objective of Standard Ethics’ index
The objective of this index is two-fold: on the one hand, to provide an overview of sustainability in Italy regarding mid-cap quoted companies and, on the other, to monitor the steps that Italian firms are taking with a view to ESG transition. Standard Ethics’ analysts have observed that the long-term prospects for Italian companies are positive and that the majority of Italy’s “mid” businesses have adopted a systemic approach to sustainability, especially in the environmental sphere. Moreover, extra-financial reporting in line with the best corporate standards is now becoming widespread.
Room for improvement does exist though in various areas; for example, in terms of governance of the composition of the various Boards of Directors with regard to independence and gender equality, voluntary forms of protection for minority shareholders, ESG risk management, and the quality of ethical codes and ESG policies.