The verification

Our activity is based on verifying the consistency between the information and data declared by the companies and the evidence provided by them.

The assessment is also carried out with the support of our DIAS platform, which guarantees the integrity and immutability of the compiled data and provides support to the audit team. Audits can be of 3 levels depending on the risk and complexity of the company's sector:

- Level 1: Assessment of completeness/consistency of information submitted for ESG profile measurement. Qualified and independent experts carry out a first-level assessment by analysing the information entered by the company. The verification may concern one or all of the pillars: the objective is to assess the reliability of the answers provided and thus the ESG score, not only with respect to the attached documentation, but also with respect to market references and the context in which the organisation operates.

- Level 2. Assessment to check/examine the organisation's "as-is" situation, and identify actions to improve the ESG profile. Qualified and independent experts carry out an in-depth analysis of the information provided by the company. RINA experts will interface directly with company representatives using remote auditing tools to analyse the congruence of the information with respect to the company context and the main reference best practices. At the end of the audit, a specific improvement plan will be drawn up which the company can use to improve its performance relative to the selected pillars. After implementing the improvement plan, the company can update its data and send it back for recalculation and subsequent revalidation.

- Level 3. Field verification of the level of integration of social responsibility principles within the organisation's activities, policies, strategies and objectives, as well as issue of RINA certification of its ESG profile. The third level of verification is used to analyse the congruence of the information provided and its appropriateness to the business context. The competence and awareness of specific reference procedures at all levels are also examined. This verification, the duration of which is adjusted to the size of the company, involves a comprehensive audit at the client’s sites and direct interaction with those involved at all levels in the various processes.
Upon its completion, a verification report is sent with an in-depth analysis of the strengths and weaknesses identified. Lastly, a certification is issued by RINA – as an independent third party – confirming the company's commitment to integrating the principles of social responsibility within the organisation. The attestation reports the achievement of the Open-es scoring.

BASKET BOND - Sustainable Energy

Developed by Eni, ELITE and illimity Bank, this is a financial instrument designed to support the growth and sustainable development of the energy supply chain, through the issue of minibonds with a duration of up to 8 years, which will be subscribed by institutional investors.
The “Basket Bond - Sustainable Energy” programme has chosen Open-es as the reference platform to accompany companies in the process of assessing their sustainability profile. All companies eligible for the programme must be registered on the Open-es platform and have the aspiration of improving their sustainability profile.

RINA, “Basket Bond - Sustainable Energy”

We provided illimity Bank with our expertise to enable the identification of ESG targets linked to investments by companies in the energy supply chain, to be financed through:

- the sustainability assessment for all issuing companies – in other words, a preliminary analysis of the suitability of the investment project to achieve SDGs

- the Level 2 verification of the Open-es questionnaire