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The Hera Group, one of Italy’s largest multi-utilities operating in the waste management, energy and water sectors, has been confirmed among Europe’s leading companies for its commitment and transparency in the fight against climate change. It achieved an “A-” score in the assessment drawn up by CDP (formerly the Carbon Disclosure Project), the international non-profit organisation specialising in evaluating the climate performance and strategies adopted by companies.

This achievement above  both the energy utilities sector and the European average (both B), comes alongside Hera’s inclusion, for the fourth year straight, in S&P Global’s Sustainability Yearbook, which sees Hera among the 759 best companies in the world for sustainability performance.

The CDP score

Hera achieved an A- score, showing clear improvement on the B obtained in 2022. It also achieved the highest rating (A) for managing climate change risks and opportunities and for its emissions data, including indirect emissions.

All companies were assessed on the basis of their decarbonisation strategy, the effectiveness of their efforts to reduce emissions and climate risks and to develop a low-carbon economy, as well as the completeness and transparency of the information provided and the adoption of best practices concerning environmental impact.

The CDP is an independent not-for-profit organisation that provides companies and countries with a system to measure, track, manage and share climate change information globally, and is the gold standard for investors, companies, cities, states and regions. Completing the CDP questionnaire requires measuring and reporting on all performances and initiatives put in place to reduce greenhouse gas emissions. At the request of more than 740 investors with over $136 trillion in assets, in 2023 this data was reported through CDP’s platform by the companies involved.

S&P Global’s Sustainability Yearbook

The corporate sustainability performance assessment carried out by S&P Global sees Hera within the “Top 1%” of the best-performing companies in the sector. With an ESG score coming to 82/100, as against an industry average of 43/100, Hera has confirmed its leadership in both the environmental and social dimensions, where it recorded the highest score among Multi and Water Utilities.
Membership was highly competitive this year; of the over 9,400 companies assessed in the Corporate Sustainability Assessment 2023, divided into 62 business sectors, only 66 are classified as “Top 1%” and Hera is among them.

The S&P Global ESG Score measures a company's performance and management of material ESG risks, opportunities, and impacts informed by a combination of company disclosures, media and stakeholder analysis, modelling approaches, and in-depth company engagement via the S&P Global Corporate Sustainability Assessment.