ROME – Unemployment alarm launched by Cerved: unemployment this year could reach a peak of 17%, with a loss of jobs that could go from 1.3 to 1.9 million. In the South the situation could be even worse. Due to Covid, up to 65 billion in worst-case investments could go up in smoke. The provinces most affected by the crisis, in Cerved’s analysis, are the port ones, due to the double impact of the decline in tourism and logistics, linked to transport.
But the areas that would have the worst impact from the sharp increase in unemployment are the worst equipped ones, starting with those of the South: Messina, Trapani, Vibo Valentia, Catanzaro, the South of Sardinia and Agrigento, even if there could also be serious problems. in Aosta, in the far north, and then in Livorno, Imperia and Savona. Self-employed workers are also at great risk, who, in the face of a general reduction in income of 3.4% for Italian workers, suffered a contraction of 7.2% in 2020 compared to 2019.
The crisis involves problems such as the renunciation of necessary health services, in particular for the elderly, who have major health problems: assistance for the elderly in Italy reaches a total cost of 31.2 billion a year, but 53.5 % of families are forced to give it up (in low-income families the share reaches 64.2%).
However, a boost to recovery could come from the National Recovery and Resilience Plan, first of all through sustainable finance, which however appears to be at risk due to the Italian structure, made up of small and very small companies, which risk remaining on the margins because they are out of bounds. radar of large investors since social reporting is mandatory only for large companies: “It is necessary to promote ESG (environmental. that is environmental, social, that is social, and governance, an aspect that refers to the administration of the company , ed)and provide incentives to support SMEs – affirms Andrea Mignanelli, CEO of Cerved Group – so that they too can access the large masses of funds that ESG finance is channeling towards sustainable projects “.
“It was a serious mistake in the decree that transposed the European directive in 2016 to limit non-financial reporting to companies over 500 employees. – observes the Minister of Infrastructures and Sustainable Mobility Enrico Giovannini – Other countries, such as Spain, have corrected this error by extending the obligation to companies with over 250 employees. The financial institutions ask for this reporting, we have found an Italian solution which is that of voluntary reporting which, however, does not satisfy the parameters of finance. this path as an element of competitiveness. Universities are moving in this direction, reality exceeds the rules imposed for four years “.
In 2020, sustainable finance funds received € 233 billion in net flows. In Italy there are 363 ESG funds which in 2020 had reached a total collection of 56 billion euros. Instruments such as green bonds, sustainable debt securities, are now widespread also in Italy. Total emissions amount to over 75 million euros, the proceeds must be allocated to projects that can bring environmental or social benefits. Projects that would be badly needed, for example to reach the 2050 zero emissions target announced by the European Union. And for the energy transition: the goal is to reach a share of 32% of energy production from renewable sources by 2030, a possible goal, estimates Cerved. The potential for mini green bonds, from which substantial funding could come, is € 7.2 billion, but in order to use them, companies should be able to measure their ESG performance.
Investments for sustainability in a few years translate into advantages in terms of turnover, assures Maria Paola Chiesi, Head of Shared Value & Sustainability at Chiesi Farmaceutici, a pharmaceutical company in Parma founded 85 years ago: “The environmental or social investments that they do not translate into business, they are philanthropy and may not last in the long term, – he explains – but investments in sustainability instead translate into an improvement in turnover within a few years “.
The report analyzes the provinces for sustainability, based on various criteria. Milan conquers first place in economic sustainability and third in the social sphere, boasts a robust and competitive economic system, with a high propensity for investment and innovation, high levels of digital transformation, in the infrastructural network, in human capital and in training . Bologna has an articulated and competitive production system, good infrastructures, a dynamic labor market and excellent welfare levels, particularly in the areas of family services and human capital and training, with a good capacity to contain social fragility.
Among the provinces of the South, breaking latest news is the most sustainable (in 29th place nationally), thanks to its excellent environmental performance (16th) and levels above the national average in social sustainability (47th), despite not brilliant results in terms of economic sustainability (65th).
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