The ESG impact on corporate structures of the Business Crisis Code.

The new Insolvency Code has reformed Italy’s corporate governance structure with a view to protect companies’ business sustainability. The growing correlation between the environmental, social and governance (ESG) risks with the financial risks requires a radical change of the governance mindset also in relation to a sound management of companies. The adequacy of the organisational and administrative corporate governance model required by the Insolvency Code cannot be separated from ESG governing bodies, policies and procedures, as well as the balance of shareholder and stakeholder interests. The implications and impacts of ESG factors on the spectrum of the business system of crisis prevention must be taken into strong consideration. [ABSTRACT FROM AUTHOR]