The Impact of the CSRD on Corporate Reporting in Italy: the case of ENI

This thesis investigates how non-financial reporting is changing, with a focus on the growing importance of ESG (Environmental, Social, and Governance) issues in the corporate world. Regulations in Europe and at the national level are beginning to recognize the need for companies to be more transparent and accountable in non-financial aspects of their reporting, beyond traditional financial metrics. This research traces the evolution of the regulatory framework, emphasizing key changes from the Non-Financial Reporting Directive (NFRD) to the more recent Corporate Sustainability Reporting Directive (CSRD). Particular attention is given to how these directives are implemented at the national level, especially through the Legislative Decree of September 6, 2024, which incorporates the CSRD into Italian law. The study reviews key academic and professional literature on non-financial and sustainability reporting to support the analysis of this regulatory shift. In the final chapter, it focuses on the case study of ENI, a publicly listed Italian company in the oil and gas sector, to understand the impact of adopting the new standards. Special attention is given to how ENI has integrated the European Sustainability Reporting Standards (ESRS), examining how the new compliance requirements have changed the company’s approach to sustainability disclosure. The main objective is to understand how the CSRD is influencing corporate reporting practices in Italy, and what challenges and opportunities it presents for companies in high-impact sectors.