Management Report Ex. Art. 2428 c.c. in Local Authority Companies

  •  Nadia Oliva    


The aim of this paper is to analyze the Local Authorities management reports, particularly those of nine companies involved in the water distribution services in light of the changes made by the legislator to Article 2428 c.c. The new article of the Civil Code has, indeed, provided for the integration, in the management report, of a series of figures and prospective non-financial tools, regarding the environment, employees relationships and the company’s performance, and provided information on developments of management, strategies, plans and business programs. The operational methodology used has been based on a detailed analysis of the existing literature on the matter and on an empirical analysis that has been actualized in the investigation of document sources (management reports and, where possible, social balance reports). What has emerged from the analysis is that, except that for few exceptions, there is a general lack of information on environment, risks and personnel. Indeed, through the recent changes and additions, the legislator has, in effect, made mandatory, albeit in an indirect (i.e. through the editing of the management report), the drafting of a mini social statement. This was necessary in light of the fact that the recent evolution of the role played by companies, and local authorities in particular, has led to the recognition of a social and environmental dimension of their activities, which combines and integrates with the management, economic, financial and competitive profiles.

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