SDG Disclosure in Sustainability Reports of Italian Listed SMEs on Euronext Growth Milan: Preparing for EU Compliance
イタリアの成長企業向け市場上場中小企業のサステナビリティ報告書におけるSDG開示：EUコンプライアンスへの準備 (AI 翻訳)
Giuseppe Modaffari, Martina Manzo, Veronica Procacci, Silvia Ievolella
🤖 gxceed AI 要約
日本語
本研究は、イタリアの成長企業向け市場に上場する中小企業17社の2023年サステナビリティ報告書を分析。SDG開示の実態を調査し、大半が二重重要度や保証を欠いた形式的な開示にとどまることを明らかにした。CSRD対応に向け、中小企業に適した実質的な開示手法の重要性を指摘する。
English
This study analyzes 17 sustainability reports from 2023 by Italian SMEs listed on Euronext Growth Milan, focusing on SDG disclosure. Findings show most adopt symbolic approaches, neglecting double materiality and assurance. It highlights the need for tailored reporting practices to prepare for CSRD compliance while avoiding administrative overload.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
本論文は、日本企業がSSBJ対応を進める上で、中小企業の開示負担軽減と実質的な情報提供のバランスを考える貴重な示唆を与える。特に、二重重要度の概念と保証の欠如が日本でも課題となる可能性がある。
In the global GX context
This paper provides insights into how SMEs approach sustainability reporting under upcoming EU mandates (CSRD). It underscores the risk of symbolic compliance and the need for standards that foster substantive disclosure without excessive burden, relevant for global jurisdictions designing SME frameworks.
👥 読者別の含意
🔬研究者:Contributes to literature on SME sustainability reporting practices and the gap between symbolic and substantive disclosure.
🏢実務担当者:Useful for corporate sustainability teams at SMEs to understand common pitfalls and the importance of double materiality and assurance.
🏛政策担当者:Inform regulators designing SME-specific reporting frameworks to balance compliance and administrative burden.
📄 Abstract（原文）
The topic of sustainability reporting by SMEs is gaining significant importance in European contexts such as Italy. However, recent regulations, constantly evolving in terms of legal requirements and practical standards, do not yet provide solid foundations to guide small and medium-sized enterprises. This study aims to examine how Italian listed SMEs address sustainability issues in terms of Sustainable Development Goals (SDGs) in their sustainability reports, in light of the recent requirements set out in European directives (i.e., Directive 2022/2464/EU—Corporate Sustainability Reporting Directive (CSRD) and Directive 2025/794/EU—Stop the Clock). The analysis is based on a content review of 17 sustainability reports published in 2023 by Italian SMEs listed on Euronext Growth Milan of Borsa Italiana. The research protocol was structured around the key SDG themes found in the reports, using Python 3.14.2 libraries including Pandas, NumPy, NLTK, and Matplotlib. The findings highlight heterogeneous approaches to sustainability. Most firms adopt symbolic approaches based on formal narrative disclosures without addressing sustainability reporting’s substantive dimensions. They overlook both the principle of double materiality, actually recommended by the CSR Directive, and the provision of assurance statements on reports. Although mandatory sustainability reporting is not imminent, particularly in light of the “Stop the Clock” measure, this research offers significant insights into both theoretical and practical implications. From a theoretical standpoint, it contributes to the growing body of literature on sustainability practices among SMEs. From a managerial standpoint, it underscores the importance of designing tailored reporting practices for SMEs that avoid administrative costs and overload issues, at the same time fostering a substantive approach to disclosure able to convey meaningful information to stakeholders.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3390/su18052594first seen 2026-05-15 18:11:42
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