Italy's discontent over ESG commitments grows

Italy Among Most Pessimistic as SEC Newgate Survey Shows Rising Discontent with ESG Efforts

Italy's discontent over ESG commitments grows

The fourth edition of SEC Newgate's Global ESG Monitor, which surveyed over 14,300 individuals in 14 countries, indicates increasing public dissatisfaction with the commitments of governments and businesses to ESG (environmental, social, and governance) issues. Approximately half of the respondents feel that institutions are falling short of expectations, especially in Italy, where 65% believe the country is heading in the wrong direction—ranking it among the most pessimistic countries, following France, Greece, and Germany.

Italian respondents are concerned with issues beyond environmental matters, prioritizing healthcare, working conditions, wages, and the rising cost of living, which shape their perspectives on sustainability initiatives. While 73% of global respondents believe companies can achieve a balance between profit and ESG responsibilities, 40% of Italians express skepticism about corporate ESG claims, slightly below the worldwide average of 44%.

Trust in companies varies by size; 56% of Italians expect large firms to assume significant ESG responsibility, but only 55% rate their performance positively. In contrast, small and medium-sized enterprises (SMEs) receive a 54% positive rating in Italy, which is lower than the global average of 58%.

Only 17% of Italians understand 'ESG,' Yet 78% show interest, SEC Newgate finds

Awareness of the term "ESG" is limited, with only 17% of Italians reporting a good understanding, compared to higher levels in countries like Hong Kong (43%) and Singapore (41%). Knowledge is more prevalent among men, individuals under 50, and those with a university education.

Despite skepticism, interest in ESG issues remains strong. 78% of Italians expressed interest, a slight decline from 2023. The average interest level is 7.6 out of 10, exceeding the global average of 7.2.

Paola Ambrosino, CEO of SEC Newgate Italia, emphasizes the necessity for institutions and businesses to address citizens' ESG concerns, particularly given the increasing economic pressures. Significantly, 72% of Italians believe companies should communicate their ESG initiatives more clearly and transparently.