98689 - BILANCIO DI SOSTENIBILITA'

Learning outcomes

The course aims to provide students with knowledge regarding the preparation and interpretation of sustainability reports, integrated reports, and other documents used to communicate the non-financial performance (ESG) of companies and non-profit organizations. Students will also develop the ability to assess the quality of these documents and prepare them in compliance with the European Union standards.

Course contents

The course addresses the theoretical and regulatory foundations of sustainability reporting, with reference to the main European and international standards (including GRI Standards and ESRS). It explores the purposes of sustainability reporting, the role of disclosure in responsible business management, and the links between non-financial information and ESG strategies. Part of the course is dedicated to the ethical framing of corporate sustainability, also through the introduction of theoretical models. Real-world business cases will be examined to develop students’ critical skills in reading, evaluating, and drafting sustainability reports. The course also includes a comparison with alternative approaches to measuring and communicating impact, such as impact assessment models and the B Corp certification framework.

Readings/Bibliography

Part I – Business ethics and sustainability (mandatory materials)

• Reference texts: Ethics: Crane, A., Matten, D., Glozer, S., & Spence, L. J. (2019). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization (5th ed.). Oxford University Press. Chapters 1, 2.
  Alternatively, in Italian: D. Cavenago (with Carminati, Marafioti, Martini), Scelte aziendali, etica e bene comune, Pearson, 2026, chapters 4, 5.
• Further reading on CSR: Molteni (2007), Gli stadi di sviluppo della CSR nella strategia aziendale; EU Green Paper COM(2001)366; Communication COM(2011)681. (available on Virtuale)
• Other mandatory materials uploaded on Virtuale: ethical dilemmas, Patagonia and PepsiCo case studies.

Part II – Sustainability Reporting (mandatory materials)

• Reference texts: Laine, M., & Tregidga, H. (2026). Sustainability Accounting and Accountability (4th ed.). Routledge. Chapters 2, 3, 5. — Mio, C., Panfilo, S., & Scarpa, F. (2025). Corporate Sustainability: Reporting and Management Accounting. McGraw-Hill Education. Chapter 1 (only 1.1, 1.2), Chapter 3 (only 3.1, 3.2), 4, 10.
  Alternatively, in Italian: S. Scarcella Prandstraller (Ed.), Manuale di reporting di sostenibilità, McGraw-Hill, 2023, chapters 1, 2, 3, 4 (note: this text dates from 2023 and should be considered as a historical reconstruction for the CSRD section) — R. Cerchione, Bilancio di sostenibilità aziendale e rendicontazione ESG, McGraw-Hill, 2025, chapters 1, 2, 3, 5, 6, 7.
• Further reading on Stakeholders, GRI and ESRS: Pronti, Nobile, Pagliarino (2018), La Stakeholder Analysis per la gestione dei beni comuni e delle risorse naturali. Quad. IRCrES-CNR, 3, 3-28, sections 4.3.1-4.3.2; Gubelli (2020) on GRI materiality; GRI 3: Material Topics (2021); Commission Delegated Regulation (EU) 2023/2772 on ESRS (currently under revision as part of the Omnibus I package). (available on Virtuale)
• Other mandatory materials on Virtuale: exercises on stakeholders and materiality.

Note: Supplementary materials, slides, cases, articles, and reports indicated on the course website are to be considered an integral part of the syllabus.

Teaching methods

The course program is deepened through mixed method:

Lectures with examples and cases;
A classroom exercise;
Company testimonials;
A guest lecture.

The slides will be uploaded after each lesson and are for the exclusive use of students

Assessment methods

The exam is aimed at assessing theoretical knowledge and the ability for critical analysis of the topics and cases covered in class, in line with the Intended Learning Outcomes (ILO).
The exam covers the entire syllabus, including the ethical dilemmas, case studies, exercises and company testimonials carried out during the course. Materials will be made available on Virtuale.
The syllabus and exam format are identical for attending and non-attending students; no differentiation in content or exam structure is provided.

 

Written exam (mandatory)
Structure: multiple-choice questions; open-ended questions; analysis of a real case based on a sustainability report. The three sections contribute equally to the score, for a maximum of 30/30 (10 points per section). Duration of the exam: 75 minutes. During the exam, the use of study materials, notes, or books is NOT allowed.

A minimum score of 18/30 is required to pass the exam. Grade scale: below 18 fail; 18-23 pass; 24-27 good; 28-30 very good; 30 cum laude excellent. Cum laude is awarded at the instructor's discretion in the case of a complete, error-free exam that demonstrates particular critical thinking skills.

 

Project work (optional)
Group work on the application of sustainability reporting techniques to real-world cases. It grants up to 3 additional points, which are added to the written exam score up to a cap of 30. Submission: before the written exam and by the end of classes. The exact date will be announced in class.

 

Integrated course
The course Sustainability Reporting (98689) is a component of the integrated course Financial and Sustainability Reporting (B8843), together with International Accounting Principles (40292). The final grade for the integrated course is the average of the grades obtained in the two exams.

 

Exam registration
Students must always register for the exam through Almaesami (mandatory; failure to register means the exam cannot be taken). Students may be organized into multiple exam sessions on the same day if their number exceeds a certain threshold.

Teaching tools

PPT slides, AI tools, Cases, Videos, Pdf files

Office hours

See the website of Magalì Fia