Teatro Regio di Parma, the Sustainability Report arrives at MiC. 'Methodological rigour and responsibility towards the community combined'

The outcome of a multi-year journey 'that combines methodological rigour and responsibility towards the community'. Alongside the 26th Verdi Festival, the Sustainability Report of the Teatro Regio di Parma was presented at the Ministry of Culture. The start was made in 2017, when, thanks to the partnership with the University of Parma, the permanent Observatory of the Verdi Festival and the drafting of the related impact report were launched. To all intents and purposes a pioneering work, based on indicators, listening to stakeholders and calculating the Social Return on Investment, which introduced a solid data culture within the Foundation.

From this practice came the need to extend the quantitative and qualitative monitoring of activities to the entire organisation. Thus, between 2020 and 2022, this need resulted in the drafting of the Annual Report accompanied by an integrated management report, i.e. enriched by structured non-financial reporting. As of 2023, the Foundation, with the support of the city's University, has moved to a stand-alone Sustainability Report capable of clearly and comparably reporting on the theatre's ESG performance and cultural and social impact, overcoming the communication limitations associated with the annual report. The methodology adopted in the construction of the document is based on three pillars. First, the involvement of stakeholders (staff, governance, partners, institutions, public) through surveys, interviews and workshops. Second, materiality analysis, which sorts issues according to their relevance to stakeholders and impact on the organisation, turning them into operational priorities. Third, alignment with international standards and frameworks (GRI/ESG and UNESCO Culture|2030 Indicators), with indicators on activities, outputs, outcomes and impacts, periodic review and continuous improvement. This has made it possible to make the sustainability report a tool with which to make informed and shared decisions, strengthening stakeholder trust and making the cultural value generated measurable.

Highlights of the work carried out include greater transparency, a solid information base for strategic and operational planning, stronger relations with members, sponsors and the territory, and a more complete impact narrative on inclusion, education, heritage and participation. "The Theatre will continue to broaden the scope of engagement and the set of indicators, in order to make the Foundation's contribution to the sustainable development of the city and the country increasingly legible. There are numerous stakeholders in the activity of the Teatro Regio di Parma (local, national and international audiences, sensitive spectators, international friends of Festival Verdi, social communities, suppliers, media and press, sponsors and partners, associations, institutional supporters) that make up an ideal network of relations, giving added value and drawing benefits". Among the human resources employed at the Regio Theatre, 62% of the administrative and technical staff and 40% of the artists are women; young people (under 35) represent 55% of the staff and 41% of the artists respectively.

The activity directly managed by the organisation of the Foundation counts 412 events for 79,407 admissions; in addition to this activity there are also those entrusted to third parties for a further 80 events. Opera audiences (traditional opera season and the Verdi Festival) expressed a satisfaction level of 4.5/5 and 94% of them felt that the experience was worth the cost of the ticket. The Regio is also accessed for guided tours, enjoyed by 18,957 visitors. Significant rentals (13), sales (5) and co-productions (2) of productions with national and international theatres generated revenue of 757,000 euro.

The economic dimension of €15.4 million is composed in a balanced manner of 55% public resources (including the Municipality of Parma 23%, Ministry of Culture 21%) and 45% private and own resources (including 12% donations, 11% ticket sales, 7% Foundations). With particular reference to the Verdi Festival, the SROI (Social Return On Investment) index is 3.2 (every €10 invested induced benefits for stakeholders estimated at least at €32).