Transition Toward a Low-Carbon Economy: The Contribution of Italian Listed Utilities

Climate change is the most urgent environmental crisis we are facing today and the fact that it threatens the survival of communities that are affected by natural disasters, as well as the prosperity of their businesses means that it also raises social and economic concerns. Several international agreements and programs describe the transition towards a low-carbon economy as a necessary step to combat climate change. The utilities sector should assume great responsibility in this process. This paper seeks to understand how Italian listed utilities are contributing to the transition to a carbon-free economy. Specifically, the study examines how strategic they deem the fight against climate change as a condition for their long-term growth. The study is qualitative and adopts the content analysis method. Data are collected from non-financial statements, other corporate documents and websites. The results of the investigation show that the Italian listed utilities have embarked on a virtuous path, which is strongly inspired, guided and monitored at board level. In particular, the actions undertaken by the companies analyzed in this study appear not only capable of strengthening their image as sustainable companies, but also of benefitting the entire economic system, society and the environment