Legislative Decree N. 125/2024 implementing Directive 2022/2464/EU of the European Parliament and of the Council of 14 December 2022, amending Regulation 537/2014/EU, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU as regards corporate sustainability reporting.

This Legislative Decree aims to align Italian legislation with EU directives to strengthen sustainability reporting, addressing environmental, social, human rights, and governance aspects. It applies to various entities, including parent companies, subsidiaries, large enterprises, SMEs listed on EU-regulated markets, and branches of non-EU companies operating in Italy. I provides definitions of terms such as sustainability reporting, material resources, large enterprises, small and medium enterprises (SMEs), and European and extra-European parent companies. Art. 3 and 4 outline the obligations for sustainability reporting and the entities required to comply. Article 5 specifies the content and structure of sustainability reports, ensuring alignment with the European Sustainability Reporting Standards (ESRS). Article 6, incorporates EU reporting standards and attestation principles for compliance. The Decree assigns supervisory responsibilities to authorities, like the Italian National Commission for Companies and the Stock Exchange (CONSOB), to ensure compliance with the sustainability reporting obligations.
Art. 9 amends the Legislative Decree No. 39 of 2010, to align with the EU Directive 2022/2464 on sustainability reporting. Here are the key amendments: Incorporates provisions for the attestation of sustainability reports, ensuring alignment with the European Sustainability Reporting Standards (ESRS). This includes the verification of sustainability-related disclosures by statutory auditors or audit firms assigns additional supervisory powers to authorities such as CONSOB (Italian National Commission for Companies and the Stock Exchange) to monitor compliance with sustainability reporting obligations; it introduces new principles for the attestation of sustainability reports, ensuring consistency and reliability in reporting practices. These principles are aligned with the updated EU standards; it sets administrative sanctions for non-compliance with sustainability reporting and attestation requirements, reinforcing accountability.