ESG indices and ratings

We dialogue with the financial community to improve our ESG performance and generate long-term value.

As part of this process, we make it a priority to engage in constructive dialogue with stakeholders interested in our ESG actions, and we firmly integrate the governance of these issues into our strategic management.

The financial community is increasingly sensitive to environmental, social and ethical issues. Socially responsible investors make their investment decisions based not only on financial data, but also on non-financial assessments of sustainability or Environmental, Social and Governance (ESG) performance.
Specialised rating agencies also carry out in-depth analyses of the soundness of company profiles and in particular their sustainability, issuing an overall judgement, known as an ESG rating, and providing useful tools for defining sustainable investment strategies.

Over the past few years, our commitment and actions have been recognised by the financial community, which has positively assessed our environmental, social and governance achievements.

ESG indices


Since 2017, Italgas stock has been included in the FTSE4Good index series, which positively assessed the group’s responses to the rigorous criteria of the independent FTSE methodology in the Environmental, Social and Governance (ESG) area.
Created by global index provider FTSE Russell, the FTSE4Good Index assesses the performance of companies that demonstrate sound ESG (Environmental, Social and Governance) practices. The FTSE4Good indices are used by a wide variety of market participants to create and evaluate responsible investments.
In January 2022 Italgas was confirmed in the FTSE4Good Index Series based on 2021 assessment, which includes the companies that excel in sustainable economic development.

Dow Jones Sustainability Index

Italgas was included for the first time in the DJSI World in 2019 and reconfirmed also in the following two years.
In 2021 it was also included for the first time in the DJSI Index Europe, thanks to the evaluation of 90 points out of 100 which allowed it to score first in the GAS – Gas Utilities Industry category, out of 28 companies evaluated in the S&P Global Corporate Sustainability Assessment (score date: 12 November 2021).
The two indices include the European and world leaders in sustainability selected by S&P Global each year based on the score achieved in the Corporate Sustainability Assessment (CSA).


Italgas stock has been included in the MSCI Italy Small Cap Index since January 2017. In 2021 Italgas received an A rating in the MSCI ESG Ratings assessment.
The MSCI Global Sustainability indexes include the companies with a high sustainability rating among those of the relevant sector. Italgas shares are included in several MSCI indices, including the Sustainability Indexes and the MSCI Italy Small Cap Index.

Sustainability Yearbook – S&P Global

In 2022 Italgas has been included for the third consecutive year in the Sustainability Yearbook, the S&P Global annual publication that collects experiences, case histories and best practices from world’s top sustainability leaders.
S&P Global is the world’s foremost provider of transparent and independent ratings, benchmarks, analytics, data, research, commentary and ESG solution.
Italgas was included following the Corporate Sustainability Assessment (CSA) conducted in 2021. The Company was also awarded a “Gold Class Distinction” for its excellent sustainability performance.

ESG rating


The Italgas share has been confirmed in the ECPI Euro ESG Equity and ECPI World ESG Equity indices.
ECPI focuses on the ESG (Environmental, Social, and Governance) performance indicators which determine the sustainability profile of an issuer. ECPI uses an objective, industry-specific approach to analysing ESG data with the aim of translating largely qualitative information into quantitative indicators and assigning each issuer a score and rating.

CDP – Carbon Disclosure Project

Italgas has been confirmed by CDP (Carbon Disclosure Project) as one of the leading companies at international level for the strategies and actions implemented to combat climate change.
CDP (Carbon Disclosure Project) is an independent non-profit organisation that provides companies, countries, regions and cities with a way to measure, track, manage and share information about their environmental impact globally, with the aim of encouraging them to take mitigation action. In 2021 the Group has been included in the “Leadership band” thanks to the improvement of its score to “A-“ from “B” last year, fin the “Climate change 2021” questionnaire.

Standard Ethics

Italgas received the E+ sustainability rating, with a stable outlook, from the non-financial rating agency Standard Ethics in 2020. The Standard Ethics Rating is an assessment of the level of compliance of companies and nations with the principles of sustainability and governance that come from the European Union, OECD and United Nations.

ISS ESG Corporate Rating

n 2020, the rating agency ISS – Institutional Shareholder Services – assigned a score of A- to Italgas as part of the ISS ESG Corporate Rating. The analysis focuses on companies’ management of ESG issues, based on various criteria, most of which are specific to the sector they belong to; Italgas has thus obtained both the ‘Prime’ rating and the QualityScore recognition for the ‘Social’ section, proving to be a leader in its sector in terms of sustainability performance.

The Strategic Plan 2021-2027

We integrate business and sustainability to grow responsibly in the long term.

Objectives and actions

We create value for our stakeholders through sustainability goals and ambitious projects.


We manage sustainability through sound and transparent Group governance. 

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