Oscar di Bilancio 2024: two-time finalist Way2Global to lead corporate sustainability

Participating in the Oscar di Bilancio 2024 financial reporting awards marked a significant milestone for Way2Global, reflecting our commitment to enhanced transparency and sustainability in corporate reporting.

This prestigious initiative, organized by FERPI, Borsa Italiana, and Bocconi University, rewards best practices in corporate reporting, recognizing companies that excel in the quality and clarity of information provided to investors, shareholders, and stakeholders.

The 2024 edition, marking the 60th anniversary of the prize, highlighted a business landscape increasingly focused on transparent, responsible reporting practices, as well as the integration of financial and ESG components—crucial elements for development of the economic and social ecosystem.

The 2024 edition and emerging trends

The 2024 edition of the Oscar di Bilancio highlighted a radical transformation in corporate reporting. As emerged during the two round tables at Palazzo Mezzanotte, only 7% of listed companies currently produce an integrated report, while 64% still issue ESG reports separate from financial data. However, this scenario is evolving rapidly.

The award-winning companies have demonstrated an increasing ability to integrate financial and ESG aspects, recognizing sustainability as a strategic driver for long-term value creation. A significant example is the Hera Group, which has shown concrete results in corporate sustainability, going beyond mere financial reporting.

This evolution is being propelled by adaptation to the Corporate Sustainability Reporting Directive (CSRD). As Cristiana Rogate pointed out during the proceedings, “the economic dimension is no longer enough” and it becomes crucial to measure impacts and adopt an Integrated Thinking approach. The finalist companies showed a strong commitment to implementing detailed, transparent reporting, which is fundamental for a responsible, resilient economy.

Innovation is also evident in how sustainability is communicated: financial statements are increasingly integrating qualitative narratives and quantitative KPIs, enhanced by advanced storytelling techniques and compelling visualizations. Fondazione Human Technopole and Fideuram Intesa San Paolo Private Banking represent emblematic cases of this evolution, rewarded for their ability to make reporting not only complete but also accessible and engaging for all stakeholders.

These trends are now driving companies toward increasingly integrated reporting practices, responding to the challenges of European regulations and stakeholder expectations. In this era of significant change, Way2Global is carving a niche as a testing ground, leading advancements not only in our language industry but also in the evolution of integrated reporting.

An unexpected result: a double-podium finish in the Benefit Corporation and Integrated Report categories

As a translation agency and B Corp Certified Benefit Corporation, Way2Global has embedded the principles of transparency and sustainability into its reporting from the outset. Our 2023 Integrated Report was designed to anticipate the ongoing changes in European standard-setting, combining economic results and ESG impacts in a unique framework that experiments with reconciling integrated reporting with the new VSME Standard of the CSRD Directive.

This pioneering vision has led us to be finalists in two prestigious categories of the 2024 Oscar di Bilancio: “Benefit Corporation” and “Integrated Reporting” Special Award.

The innovative features of our 2023 reporting are multiple: the collaborative authoring with direct testimonies from stakeholders, supported by the multimedia format with “QR codes” and references to external video content; the adoption of diversified metrics and tools to measure impacts and performance; the conduct of an in-depth analysis of double materiality and stakeholder engagement; effective infographics to communicate complex concepts with clarity and impact; structured risk management; the connection between financial information and ESG; experimental harmonization of the IR Framework with the VSME Standard; and finally, the graphic concept that reflects our female governance and uses AI as an example of our ability to transform a market risk into opportunity.

The recognition obtained confirms the validity of our path and reinforces our commitment to act as a reference model for SMEs in integrated reporting. Our experience shows how even small businesses can excel in sustainable innovation and transparency.

The role of SMEs in sustainable transformation

In the process of sustainable transition, SMEs play a key role in driving change. As highlighted during the 2024 Oscar di Bilancio, their operational flexibility becomes a competitive advantage in the adoption of innovative ESG practices. In the words of Daniela Bernacchi, UN Global Compact Network Italy, “Anticipating change becomes the competitive advantage,” a particularly strong ability in small and medium-sized enterprises.

Way2Global’s experience at the 60th Oscar di Bilancio highlights how being a small business can serve as a strategic advantage. Our agile structure has allowed us to experiment with new sustainable reporting models, anticipating trends such as “double materiality” analysis, a practice currently adopted by only 27% of early adopter CSRD companies.

SMEs possess a distinct advantage: Their strong ties to their respective communities enable them to launch initiatives that have an immediate, measurable impact on the communities they serve. Their strong community roots, coupled with swift innovation, establish them as perfect settings for experimenting with sustainable practices.

The 2024 Oscar di Bilancio confirmed that sustainable transition is not a prerogative of large companies. As highlighted by Patrizia Rutigliano of Poste Italiane, if large companies have “the responsibility to act as a driver”, SMEs have the ability to be the true pioneers of change, demonstrating that size and positive impact are not necessarily related.