(Finance) – The level of disclosure of large listed football clubs about issues related to sustainability is low. Standard Ethics states this by publishing it SE European Football Index, an index that includes 15 of the largest European football clubs currently listed. Only in two cases are there structured policies clearly oriented towards sustainability and standard extra-financial reporting (Borussia Dortmund And Juventus Football Club). In the case of the Romeand to a lesser extent thanAjaxanalysts have found the start of a path in that direction.
In general, the sector of listed football teams does not offer high quality public reporting (especially on non-financial issues) and rarely does it also offer an adequate and full English translation of its website and relevant documentation – despite being listed and international caliber. In the end, the main sustainability governance tools, such as Codes of Ethics and ESG policies, do not appear to be widespread (or not well structured)highlights the independent rating agency based in London.
The perception of Standard Ethics is that – with a few exceptions – publicly traded football clubs, although engaged in businesses that go beyond mere sports – merchandising, advertising, television rights, stadium management and more – do not follow the lead of others. economic sectors. That is, they find it hard to “professionally analyze their social, environmental and economic impact; to offer standard ESG reporting; to articulate above all a convincing system of governance of sustainability (also at top level and risk management) that is in line with the international guidelines of the UN, OECD, EU “.
The SE European Football Index will be active from 28 March 2022, with six-monthly updates in September and March. The component weights will be derived from the Standard Ethics Rating (SER): plus the Corporate SER the higher the weight of the security in the index. The aim is to provide an overview of sustainability within the industry and the football community, as well as to monitor the steps that European clubs are taking in this area.
Borussia Dortmund have a rating AND AND- (the fifth notch out of nine on the rating agency scale, equal to an Adequate rating), Juventus E + (equal to a Low rating and not fully sustainable), Ajax and Roma received a And with Outlook Positive. Manchester UnitedGalatasaray Sportif, Besiktas, Olympique Lyonnais, Celtic Football Club, SS Lazio, Benfica and Brondby have a rating AND. Fenerbahce Futbol, Trabzonspor and Sporting CP AND-.