2023 Integrated Report – The new horizon of sustainability reporting

After months of eager anticipation, we are excited to announce the release of our long-awaited 2023 Integrated Report. This year’s report was more complex than in previous years, both because of the desire to reconcile the IR Framework with the pioneering VSME standards (ESRS for small businesses that report voluntarily) and because of the new elements we decided to implement.

Despite the challenges, this process, which began at the start of the year, has been a source of incredible satisfaction, strengthening our commitment and contributing to the development of good, sustainable governance practices in line with the values and goals of Benefit Companies.

Key innovations of the 2023 Integrated Report

Each year we are committed to improving our reporting by taking inspiration from external suggestions and adopting the most innovative reporting tools and methodologies.

In line with the disruptive evolution introduced into the ESG reporting landscape by the advent of CSRD and the new ESRS/VSME Standards, the Way2Global 2023 Integrated Report therefore presents several important new features:

• Methodological interoperability – We have attempted to align our beloved IR Framework of IIRC and GRI Standards with the new VSME Standard, still in a non-final draft version, anticipating future trends in ESG reporting. Moreover, for benchmarking purposes we have measured ourselves, as always, against a considerable number of diverse metrics and tools for measuring impact and performance.
• Multi-document structure – A direct consequence of point 1) is the structuring of our 2023 reporting into four interconnected documents: the Integrated Report, the Impact Report, a VSME-compliant Sustainability Statement, and our first Integrated Management Report. This complex structure allowed us to meet often divergent regulatory requirements while maintaining a coherent narrative with no overlaps.
• Greater emphasis on the integration of sustainability issues and the business model – We supplemented the value creation infographic with a business model canvas to more clearly and effectively illustrate how sustainability issues are deeply integrated into Way2Global’s business model, further highlighting the inseparable relationship between our activities and our positive impact.
• More structured dual materiality analysis, stakeholder engagement, and risk management – Although we have been accustomed to measuring ourselves on a dual materiality basis since last year, this time we wanted to devote more space to the development of a more verticalized analysis, so as to facilitate the understanding of all the steps prior to the identification of the 18 material topics that guide our sustainable strategy. In addition, we have adopted a more robust and structured stakeholder engagement and risk management methodology, respectively drawing on the AA1000 SES Standard and the CoSO Enterprise Risk Management framework
• Multimedia format – The 2023 Integrated Report is significantly more dynamic than previous editions. Inspired by the Italian best practices of non-financial information that emerged at the event organized at the beginning of the year at Università Cattolica by the O.I.B.R. Foundation in collaboration with Assobenefit, Mercurio GP and FERPI in relation to the 2023 Oscar di Bilancio, we have enhanced the report with tables, diagrams, QR codes, corporate videos and infographics for a more engaging experience.
• Focus on artificial intelligence (AI) – Artificial intelligence is the foremost material topic for Way2Global’s 2023 fiscal year. In light of the disruptive impact wrought by generative AI on the entire language industry, which constitutes a real market risk, at Way2Global we decided to react the Benefit way, that is, by turning the threat into a new opportunity to generate a positive impact for the entire community. We then devoted an in-depth focus to the impact of AI on the language industry and our Benefit way of living with an antifragile approach to this umpteenth revolution. We also made extensive use of AI for image creation tasks.
• Suspended impacts and impact horizons – We decided to conclude the 2023 Integrated Report with a reflection on “suspended” impacts, i.e., unfinished goals, and our vision for the future, emphasizing our ongoing commitment to improvement.

These innovations complement the distinctive elements already established in previous editions of our reporting, such as the active involvement of our Way2Globers and all other stakeholders who were willing to lend their voice and face in a participatory spirit, and the women’s governance that informs our corporate culture, also reflected this year in the entire report’s visual identity.

A collective commitment to a sustainable future

Drafting the 2023 Report was a challenging process that required considerable collective resources and energy. However, this effort has strengthened our strategic vision and sparked new ideas for the future, confirming our belief that a business focused on caring for people and the planet is key to resilient, sustainable growth.

This year, our efforts extended beyond reporting, bringing us to active collaboration with leading bodies in the international ESG landscape. The delay in publishing the 2023 report is partly due to this spirit of service and willingness to contribute to development of new regulations. We participated in EFRAG’s public consultation and field test for VSME standards, and collaborated with prestigious bodies such as OIBR, representing SMEs in the challenges posed by the new ESRS scenario.

We therefore express our gratitude to the regulators for this opportunity, and to all of our stakeholders – from our people to employees, customers, partners, and the Benefit Corporation community – for their active contributions to production of the 2023 report. Special thanks go to our graphic designer, Valeria Lombardi, for her dedication and creativity on the project.

This collaborative approach, supported by ongoing investment in specialized continuing education in sustainability and reporting, is at the heart of our commitment to a more sustainable and inclusive future.

Accessing the 2023 Report and concluding remarks: a step forward in sustainable reporting

In line with our principle of transparency to all stakeholders, we publish our sustainability reporting in a dedicated section of our website, from which you can download the 2023 Integrated Report and/or any previous edition. For assistance, you can also write to: marketing@way2global.com

With this 2023 Integrated Report, Way2Global confirms its commitment to promoting innovative reporting practices for SMEs. Our goal goes beyond mere compliance: we aim to inspire other companies to embrace sustainable governance, demonstrating that even small businesses can combine economic success with a positive impact on society and the environment.

We therefore invite you to explore our 2023 Integrated Report and join us on this journey toward a more sustainable and inclusive future.