Stock exchange and sustainability

ESG reputation, companies more aware of their prestige on social media

This is what emerges from the results of the Piazza Affari ESG Observatory conducted by Plus24-Università Milano Bicocca

by Vitaliano D'Angerio and Elisabetta Moscatelli

2' min read

Translated by AI
Versione italiana

2' min read

Translated by AI
Versione italiana

'Extremely important'. This is the answer given by 37 companies in Piazza Affari to the question on monitoring and preventing reputational risks, in particular those related to Esg misbehaviour on social media. This is the large patrol of companies most aware, listed in Milan, of the key role of online reputation. An element that can make a company's fortune as well as quickly throw it into the abyss.

Underlining the increased awareness of online reputation risks is the study by the University of Milan-Bicocca where the results of the Plus24-Bicocca Piazza Affari ESG Observatory were processed and published. "Companies attach great importance to monitoring and preventing reputational risks related to misbehaviour or ESG issues that may emerge on social media," reads the study.

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The 37 companies and performance

A total of 122 companies participated in the Piazza Affari ESG Observatory (see Plus24 of 20 December) and it relates to 2024 financial statements; the questionnaire was not sent to companies in the Ftse-Mib. There are actually 39 companies, but Metrics.AI and Haiki+ were not included in this analysis because they do not currently have a twelve-month stock market performance.

Seventy per cent of the companies in the table above have positive one-year results (26 out of 37 companies): it should be emphasised, however, that there is no causal link or correlation between attention to online reputation and stock market performance. This is only a snapshot of the situation to date. It is clear, on the other hand, that strengthening certain risk safeguards helps to contain possible crisis situations.

CHI È PIÙ ATTENTO AI SOCIAL MEDIA

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First in line

It is difficult, however, to escape the curiosity of the first in the ranking, Impianti, which even posted a three-figure performance over the year (+247%). It is a company based in Carate Brianza, in the province of Monza, which used to focus particularly on the information technology sector and has recently expanded into the drone sector. In 2025, it launched the 'Drone4Italy' brand, focused precisely on advanced aerial mobility technologies and drones. An activity that has certainly given the Egm-listed company a boost.

Greenwashing

A final note to make is on the greenwashing issue. This phenomenon, which is now well known, sees some companies emphasise environmental issues without actually carrying out the advertised green activities. This behaviour exposes them to a major reputational risk. Well, not all of the 37 companies considered have reinforced their greenwashing headmasters as shown in the table above. It should be noted, however, that 'green risks' are amplified especially in companies with the environment at the core of their business (e.g. utilities). The fact remains that greenwashing is still a somewhat underestimated phenomenon.

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