We share with you the recent interview on IMPRENDITORE.INFO with Dr. Cosimo Summa on the topic of sustainability.

Today, corporate sustainability reporting is no longer just a matter of regulatory compliance, but a real strategic tool that can significantly influence the competitiveness and future of companies.

I explored this topic with lawyer Cosimo Summa from MSP Mariano Summa & Partner and consultant for Partner d’Impresa, to understand how the new European directives impact the world of small and medium-sized enterprises and what concrete steps entrepreneurs can take to turn sustainability from an obligation into a competitive advantage.

In this context, Cosimo offers us a guide to navigate the complexities of the new regulations, the benefits of proper reporting, and the opportunities, including financial ones, that sustainable management can open up for SMEs.

Corporate sustainability reporting is changing the landscape for SMEs. In your opinion, what are the most significant impacts of these new rules on the business of small and medium-sized enterprises?

Corporate sustainability reporting is profoundly influencing the SME landscape, mainly in two areas: the supply chain and the relationship with the financial system.

1. Impact on the supply chain: SMEs that are part of the supply chains of large companies must adapt to the new sustainability directives, especially with the introduction of the CSRD (Corporate Sustainability Reporting Directive). This directive requires large companies to provide details not only about their own sustainability, but also that of their suppliers. For example, a company that produces and markets snacks and chips, which buys raw materials (agricultural products) from local farmers, cannot limit itself to improving its own internal processes but must ensure that its suppliers also follow sustainable practices. This pushes agricultural or logistics SMEs to certify and improve their sustainability, otherwise they risk losing contracts. The value chain thus becomes fundamental, with a direct impact on how SMEs operate, invest, and organize themselves to remain competitive in the market.
2. Relationships with the financial system: Sustainability also affects relationships with banks and insurance companies. The CSRD directives (which have been implemented with legislative decree 125 2024) and CRD, together with taxonomy regulation and Bank of Italy rules, require financial institutions to consider the sustainability rating of the companies to which they provide services. For an SME, this means that access to credit may depend on compliance with sustainability criteria. Banks, in fact, prefer to grant more favorable interest rates to those with a high ESG (environmental, social, and governance) rating and, conversely, impose higher rates or even limit credit to companies that do not meet these standards. SMEs that do not adapt may therefore encounter difficulties in accessing credit, with repercussions on their ability to invest and grow.
3. Market effects and reporting obligations: Even if SMEs are not directly required to prepare sustainability reports like large companies, they must still meet certain standards to remain competitive, especially to access financing, tenders, and public contracts. A memorandum of understanding has been signed between the MEF, trade associations, and banks, identifying 45 indicators that SMEs must report. Failure to meet these parameters may preclude access to subsidized financing or business opportunities.

So, even if there is no formal obligation for all SMEs, the pressure from the supply chain and the requirements for access to financing and the market is effectively forcing many small and medium-sized enterprises to adapt, with a "tightening" that involves much of the Italian and European entrepreneurial fabric.

Based on your experience, how are entrepreneurs reacting?

Entrepreneurs are reacting in various ways to the new sustainability directives. Although the issue has become central only in recent months, especially due to regulatory pressure on banks and insurance companies, many small and medium-sized enterprises still appear unprepared. This difficulty is partly due to the lack of expert consultants: the scarcity of qualified professionals slows down the adoption of concrete measures, leaving entrepreneurs uncertain about how to effectively respond to the new requirements. Many see sustainability as an unavoidable cost rather than an investment. The prospect of having to adapt their company raises concerns about the economic impact, and few are able to see the medium- and long-term benefits. This is aggravated by the lack of practical information on how sustainability can improve corporate reputation or open up new opportunities, for example in relationships with large companies that require sustainable suppliers.

However, the perception of these changes varies greatly between younger and more traditional entrepreneurs. Companies that have already undergone a generational transition show greater openness to sustainability: young entrepreneurs, more accustomed to thinking globally, understand the strategic importance of sustainability. On the other hand, in many family businesses still managed by previous generations, a vision focused on immediate profit prevails, so sustainability is seen more as a constraint than as an opportunity. The main lever to convince these entrepreneurs seems to be the threat of sanctions or the risk of tax audits, rather than a spontaneous adherence to a strategic change.

Are there any tax savings or incentives that companies can take advantage of to adapt?

Companies can take advantage of various tax savings and incentives to adapt to sustainability standards, both in credit and subsidized financing. One of the main levers is access to green credit, which offers more favorable conditions than traditional financing. Today, many banks distinguish between ordinary loans, often with high rates, and “green” products, with more advantageous interest rates for companies that demonstrate a good level of sustainability. This advantage reflects the fact that sustainability is now considered a fundamental element of creditworthiness, on par with (or even more than) capital solidity. Being sustainable does not just mean respecting the environment, but having transparent governance, managing resources responsibly, and complying with labor regulations, creating a reliable and solid corporate structure—factors that for banks represent a guarantee of reliability and reduced financial risk.

In addition to green credit, there are various incentives in the form of public funding and calls for proposals. At the national and regional level, there are funds linked to the sustainable transition, such as those of Transition 5.0, which support innovation and sustainability projects, training programs to improve corporate culture, and incentives to implement corporate welfare models. These funds and calls can support companies in the costs of sustainable adaptation, reducing the economic burden of change.

Finally, sustainability also represents a powerful reputation tool. Sustainable companies can gain greater credibility and access to new markets, positioning themselves as reliable partners for major brands and multinationals that are increasingly attentive to the transparency of their supply chain. Being recognized as sustainable suppliers can open the doors to collaborations with leading companies seeking reliable and compliant partners, offering an additional competitive advantage.

If you could give one piece of advice to entrepreneurs, what would it be?

The most important advice I would give to entrepreneurs is to turn to qualified sustainability consultants to obtain an objective assessment of their company. Addressing the issue of sustainability does not necessarily mean making large investments or drastic changes right away, but starting a dialogue with an expert can be the first step to concretely understand the needs and opportunities of your business.

Discover the free Current Scenario Test by Partner d’Impresa, which allows you to understand the strengths and areas for improvement of your company from a financial, fiscal, asset, legal, labor, and human resources management perspective.

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