10 February 2021
The Corporate Governance Report is a crucially important document that more and more companies are compelled to produce.
The this document’s relevance stems from the key role played by governance within the new model of corporate sustainability that is gaining ever wider popularity. This is particularly true at this historic time, in the wake of the COVID-19 crisis, with many calling for the creation of a fairer, more inclusive and more responsible economic system.
With many companies adopting the UN’s 2030 Agenda and the 17 Sustainable Development Goals that belong to it, we’ve seen the start of a radical paradigm shift that gives equal importance to actions in the economic, environmental and/or social arenas.
To ensure that development is sustainable, it’s important to consider the three pillars of sustainability: Environmental, Social and Governance (ESG).
The close ties between sustainability and governance have been made a legal obligation by the Consolidated Law on Finance and by the Corporate Governance Code, which was approved and published in January 2020 by the Corporate Governance Committee, made up of business associations, professional investors and the Italian Stock Exchange.
According to the first principle of the Corporate Governance Code, “the administrative body guides a company and strives for sustainable success”.
Clearly, sustainability – and with it, good governance – are no longer an optional extra that a company can decide whether or not to pursue. Instead, they’ve become an integral, structural part of what companies do.
The adoption of Legislative Decree No. 254 of 2016 made it compulsory for large companies to report on all information that falls outside of the strictly financial sphere, including data pertaining to governance.
Producing a Corporate Governance Report allows a company to monitor and evaluate – in a punctual, transparent manner – the effects of corporate governance and business strategies. Relevant information includes company profiles, company assets, measures and criteria spanning compliance, direction and coordination, data processing, the composition, appointment and functioning of the Board of Directors, the compensation and independence of senior management, the appointment of company committees and risk management.
Companies can therefore assess the impact their actions have on key areas such as the environment, society, their employees, human rights and the fight against corruption.
By producing a Corporate Governance Report, a company can direct its strategic and operational decisions toward sustainable growth, assuming full responsibility for its actions.
To ensure good governance, a company must be able to initiate an open, transparent dialog with its stakeholders. As such, it’s vital to ensure that all possible stakeholders have a clear understanding of the content of documents such as the Corporate Governance Report.
This is even more important for companies operating in foreign markets.
An inadequate translation of this document could expose a company to risk, not just in terms of stakeholder relations, but also in terms of its reputation and image, not to mention monitoring and governance issues.
By providing a good-quality translation of the Corporate Governance Report, a company can clearly illustrate its intention to be transparent and establish solid, trust-based relationships with its stakeholders.
It’s also something viewed favorably by investors, who are increasingly likely to give priority to companies that can show they have integrated sustainability and good governance into their businesses.
Way2Global is a Benefit Corporation with a deep commitment to sustainability and over 30 years’ experience in the financial translation sector, which represents a core business for us. As such, we’re the ideal partner to translate your non-financial reporting documentation, whether it’s a Sustainability Report or CorporateGovernanceReport.
Way2Global’s innovative, sustainable business model and commitment to serving as an advocate and an ambassador of corporate sustainability are the best possible guarantee that we’ll channel all our passion and expertise into translating your Corporate Governance Reports – and the same goes for supplementary documentation such as the Corporate Governance Code, Data Governance directives and the Organizational Model 231 (Legislative Decree 231/2001).
We use a team of native-speaker translators specializing in the financial sector, coordinated by dedicated project managers, to deliver sustainable, quality translations. For us, helping to promote a new culture of sustainability is a pleasure, a privilege and an honor.
Need your Corporate Governance Report or Sustainability Report translated? Get in touch!