ESGs
ESGs
ESGs
ESGs

30 Ottobre 2025

Driving the Change: Chiesi Farmaceutici’s Evolution as Benefit Corporation and B Corp

Autori: Francesca Romana Arduino, Alessandro Zattoni                                                                                                                                                                                                                                                                                                                                                                                                              Abstract: Chiesi Group is a global Italian private pharmaceutical company owned by Chiesi family. In 2024, the Group operates through 31 global affiliated companies, has 4 production plants located in Europe (Italy, France, Germany) and in Brazil, and 7 Research & Developmentcenters situated in various countries (i.e., Italy, Canada, UK, USA, France, China, Sweden). The company has over 7,000 employees, more than half are females, and its revenues exceeded €3 billion in 2023. The consolidated revenues of the Chiesi Group have shown a steady growth over the last ten years, in particular since 2019, when the company embarked on an incredible sustainability journey. Particularly, in 2018 Chiesi adopted the legal form of Benefit Corporation in Italy and in the US and in the following year achieved the B Corp certification at Group level. In 2022 the Group went through its first re-certification process, that was successfully completed with a higher score which meant an improved social and environmental performance and impact management practices. Notwithstanding its remarkable results and a steadily increasing performance, Chiesi, as many other companies, is going to face new challenges in both the near and long-term future. On 28th November 2022, the European Union, in fact, approved the Corporate Sustainability Reporting Directive (CSRD) that requires companies to disclose information - about the social and environmental impacts of their own operations as well as along their supply chain. As a result of this new directive, an increasing number of companies will submit in 2025 their CSRD-compliant report for the 2024 financial year. The Chiesi Group will be subject to the new reporting requirements by CSRD for the 2025 financial year, with the report that will be published in 2026. This law will increase the sustainability disclosure and probably also strategic approach to sustainability by large European companies. Also, in response to the evolving ESG regulatory framework as well as increasingly complex global environmental and societal challenges that threaten the world we live in, B Lab has launched stakeholders’ consultations in order to evolve the B Corp standards in alignment with the current revolution sustainability realm is facing. Chiesi has contributed to these consultations and it is looking with attention to the evolving moment that also the B Corpcommunity is undergoing, being committed to continue to measure and improve its social and environmental impacts by adopting standards that can push the company beyond compliance requirements, using business as a force for good to foster an inclusive andregenerative economy. Download Case Study Richiedi Teaching Notes

30 Ottobre 2025

Luigi Lavazza S.p.A. “A Goal in Every Cup”

Autori: Mario Cerutti, Enrico D’Onofrio, Veronica Rossi                                                                                                                                             Abstract: “In un mondo che distrugge i beni della natura, io non ci sto”. This was the purposeful statement – originally from Mr. Luigi Lavazza back in 1935 – that came to the mind of Mr. Antonio Baravalle – Lavazza Group CEO – on April 1st, 2021, when leaving the recently built headquarters Nuvola in Borgata Aurora (Turin), after another intense and fulfilling day of work. Lavazza had just released the 2020 financial results: Revenues of € 2.1billion, slightly down on the 2019 figure of € 2.2 € billion, Ebitda of € 253.0 million – against € 291.0 million in 2019 – and Net Profit of € 73.0 million versus € 127.4 million the year earlier. Net Financial Position was positive and had reached € 102.0 million, improving from the previous year of € 82.1 million. The reported results were confirming the strong financial solidity of the Company and had been achieved in a complex and difficult year, that had seen the outbreak of COVID-19 pandemic deeply changing consumers’ behaviours. However, even more remarkable was the continued commitment to Sustainability. After internalising the SDG Goals into Lavazza’s Strategy, focusing on 4 goals and launching the GOAL ZERO (an innovative idea of Lavazza), the Company was moving forward with another daunting challenge: the “Roadmap to Zero”. ESG criteria were increasingly integrated in the Group strategy, the first milestone reached with the Roadmap to Zero, for which about 50 million euro had been invested in for the period 2020-2021. Goal was to work to reach Lavazza Group’s carbon neutrality by the end of 2030. The question was how deep Lavazza could embed all its sustainability values inside the Company and outside as well, to foster a positive transformation across the whole industry? What kind of activities could be done to accelerate this strategy? The fact that Lavazza was still owned by an enlightened family could help? How this would compare with the financial pressure that other listed multinationals and smaller private companies would feel, where quarterly profit reviews and/or overall economic results would put pressure on the single bottom line profitability versus the triple bottom line profitability that Lavazza could pursue? Could this fully purpose-driven approach become a disadvantage in the short run for Lavazza? Conversely, might the outbreak of covid-19 pandemic reinforce Lavazza’s conscious business and responsible leadership? Download Case Study Richiesta Teaching Notes