Status dell' Integrated Reporting in Italia

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To align Purpose and Strategy to companies’ environmental agenda, the CFO and Finance function can lead with sound processes, consistent measures, language understandable by investor community, balancing short and long term approaches. hashtag#thehappycfoJürgen WielandJuan Jose Piedra GalanJoel PenneyGiuseppe Melillo



Jan 16th Oxford Rethinking Performance

How to measure Performance in a stakeholder oriented company?

Steven Pinker: what can we expect from the 2020s?

The progress we have enjoyed has come from empowering the better angels of our nature. We are a cognitive species, with the wherewithal to solve problems and the linguistic means to pool solutions. We are a co-operative species, joining forces to achieve outcomes we cannot achieve individually. And we are an intermittently empath­etic species, capable of concern with the wellbeing of others.

EU Bank launches ambitious new climate strategy

  • The EIB will end financing for fossil fuel energy projects from the end of 2021
  • Future financing will accelerate clean energy innovation, energy efficiency and renewables
  • EIB Group financing will unlock EUR 1 trillion of climate action and environmental sustainable investment in the decade to 2030

The Extinction Rebellion: How Sustainable Finance Can Help Save The Planet

Sustainable Finance is a term “industry” has appeared to settle on covering a host of different investments that have an environmental and/or social impact: ESG (Environmental, Social and Governance)focused, UN SDG (United Nations Sustainable Development Goals),impact investing, ethical investing, faith-based investing, to name a few of the big ones.

“We have to stop framing climate change as a future problem. The evidence of climate change is all around us and we can no longer ignore the risk says Jeff Gitterman, the co-founder of New York based Gitterman Wealth Management and a seasoned ESG investor who advises on more than $1 Billion of sustainable investments.

Read all here

Progressive Capitalism Is Not an Oxymoron

We can save our broken economic system from itself.

By Joseph E. Stiglitz

Mr. Stiglitz is a Nobel laureate in economics.

April 19, 2019

Despite the lowest unemployment rates since the late 1960s, the American economy is failing its citizens. Some 90 percent have seen their incomes stagnate or decline in the past 30 years. This is not surprising, given that the United States has the highest level of inequality among the advanced countries and one of the lowest levels of opportunity — with the fortunes of young Americans more dependent on the income and education of their parents than elsewhere.

Read more here

Churchill was against Tariffs and Anti Aliens Bills

Christmas break is a good time to start pleasant books. It was a very positive surprise to read in "Churchill, Walking with Destiny" by Andrew Roberts how enlightened and ahead of times was Churchill's opinion. The Tory Democrat at the beginning of 20th Centuries was opposing to his own party the raise of Tariffs: "High protective tariffs, although they might increase the profits of capital, are to the poor and the poorest of the poor a cursed engine of robbery and oppression". On immigration, Churchill, with accurate facts demonstrating that only 1 out of 140 Brits were not born in UK and that allowing 1,700 Jews entering the country escaping from pogroms in Tsarist Russia would not have caused any harm: he proclaimed his dislike of "insular prejudices against foreigners, racial predjudice against Jews and labour prejudice against competition".

Raising barriers, we know from those times, increases conflicts, confrontation and prejudice. Churchill's lesson should be relaunched in these times of increasing barrier building. 

Andrew Roberts is a great historian who is always relevant to contemporary thinking and contemporary problems.’ Dr Henry Kissinger

Embankment Project for Inclusive Capitalism

The Embankment Project for Inclusive Capitalism (the “Embankment Project”) represents an important opportunity to transform the way businesses measure and report on the value they create for stakeholders. After three years of meeting at the Conferences on Inclusive Capitalism in London and NYC, it has become clear that there will not be progress toward Inclusive Capitalism unless there is real change in the workings of the capital markets. A new reporting mechanism is required for corporations to better measure and communicate the value they create for shareholders through their strategic attention to the broad base of their stakeholders: customers, employees, communities, government, and the environment.


Steven Pinker’s case for optimism

Enlightenment Now: The Case for Reason, Science, Humanism and Progress. By Steven Pinker. Viking; 576 pages; $35. Allen Lane; £25.

TO ANYONE who reads a newspaper, this can seem a miserable world. Syria is still at war. Another lunatic has gone on a gun rampage in an American school. The tone of political debate can rarely have been as crass and poisonous as it is today.

Good things tend to happen incrementally, and across a wide area, making them much harder to film. News outlets could have honestly reported that the “NUMBER OF PEOPLE IN EXTREME POVERTY FELL BY 137,000 SINCE YESTERDAY” every day for 25 years. But readers might get bored.

The world is about 100 times wealthier than 200 years ago and, contrary to popular belief, its wealth is more evenly distributed. The share of people killed annually in wars is less than a quarter of that in the 1980s and half a percent of the toll in the second world war. During the 20th century Americans became 96% less likely to die in a car crash, 92% less likely to perish in a fire and 95% less likely to expire on the job.

Best of all possible worlds

Progress has often been stunningly rapid. The vast majority of poor Americans enjoy luxuries unavailable to the Vanderbilts and Astors of 150 years ago, such as electricity, air-conditioning and colour televisions. Street hawkers in South Sudan have better mobile phones than the brick that Gordon Gekko, a fictional tycoon, flaunted in “Wall Street” in 1987. It is not just that better medicine and sanitation allow people to live longer, healthier lives, or that labour-saving devices have given people more free time, or that Amazon and Apple offer a dazzling variety of entertainment to fill it. People are also growing more intelligent, and more humane.

In every part of the world IQ scores have been rising, by a whopping 30 points in 100 years, meaning that the average person today scores better than 98% of people a century ago. How can this be, given that intelligence is highly heritable, and clever folk breed no more prolifically than less gifted ones? The answer is better nutrition (“brains are greedy organs”) and more stimulation. Children are far likelier to go to school than they were in 1900, while “outside the schoolhouse, analytic thinking is encouraged by a culture that trades in visual symbols (subway maps, digital displays), analytic tools (spreadsheets, stock reports) and academic concepts that trickle down into common parlance (supply and demandon averagehuman rights).”

Two centuries ago only 1% of people lived in democracies, and even there women and working-class men were denied the vote. Now two-thirds of people live in democracies, and even authoritarian states such as China are freer than they once were.

Many readers will find this bubbly optimism hard to swallow, like too much champagne. We may be materially richer, some will protest, but aren’t we less happy because we know that others have even more? We may have supercomputers in our pockets, but aren’t they causing an epidemic of loneliness among the young? And what about global warming or North Korea’s nuclear missiles?

Mr Pinker has answers for all these questions. In 45 out of 52 countries in the World Values Survey, happiness increased between 1981 and 2007. It rises roughly in line with absolute income per head, not relative income. Loneliness, at least among American students, appears to be declining. Global warming is a big threat, but not insurmountable. The number of nuclear weapons in the world has fallen by 85% since its peak.

The rise of populism challenges Mr Pinker’s thesis. Supporters of Donald Trump, Brexit and various authoritarian parties in Europe tend to believe that the old days were golden, that experts can’t be trusted and the institutions of liberal democracy are a conspiracy to enrich the elite. Some want to tear down these institutions and start again—which would at the very least interrupt the incremental progress that Mr Pinker champions.

Without downplaying the risks, he remains optimistic. The checks and balances that populists decry are reasonably effective in most rich countries and will outlast the current crop of demagogues. Supporters of populism will become disillusioned, or will simply die off. Mr Pinker draws especial comfort from the decline of faith. Worldwide, although 59% of people are religious, that share has fallen from nearly 100% a century ago. As people grow richer, he argues, they abandon the crutch of belief and rely more on reason.



Adam Smith’s Underappreciated Wisdom on Benevolence, Happiness, and Kindness

The great Scottish moral philosopher, political economy pioneer, and Enlightenment maven Adam Smith (June 16, 1723–July 17, 1790) is best known for authoring the 1776 masterwork The Wealth of Nations — a foundational text of behavioral economics two centuries before behavioral economics existed. It originated the famous “invisible hand” metaphor for how socially beneficial outcomes can be traced back to the self-interested actions of individuals. True to our modern incapacity for nuance, Smith’s “invisible hand” has come to symbolize a rather bleak view of the human spirit as bedeviled by inescapable selfishness. And yet Smith’s own views were more generous and elevating — something he explored in his eclipsed but excellent earlier work, the 1759 treatise The Theory of Moral Sentiments, full of timeless wisdom on ambition, success, good personhood, the far-from-linear relationship between money and happiness, and that wonderfully old-fashioned notion of “benevolence,” so urgently needed in our divisive world today.