RESEARCH 27 February 2026

Governance for Sustainable Transition: the final results of the GOST project

The PRIN GOST – Governance of Sustainable Transition research project comes to an end with the presentation of the overall results, the result of a multi-year process that involved universities, companies and associations in the analysis of the evolution of sustainability governance models in Italy.

Governance research for sustainable transition companies

Date 27 February 2026

The PRIN GOST – Governance of Sustainable Transition project comes to an end with the presentation of the overall results during an online event held on 27 February 2026. The research project (NRRP for Mission 4, Component 2, Investment 1.1. Notice 1409/2022, Funded by the European Union - Next Generation EU) is a multi-year project curated by a joint research team from Università Cattolica del Sacro Cuore and Luiss Guido Carli University , which involved companies and associations in the analysis of the evolution of sustainability governance models in Italy. The survey was carried out with the contribution and collaboration of ALTIS Graduate School of Sustainable Management and Sustainability Makers.

The final meeting offered an organic synthesis of the main evidence that emerged, clearly outlining how decision-making processes, organizational structures and managerial practices are transforming in response to new ESG challenges.

Over the years of research, GOST has observed and analyzed how sustainability – from an external instance or a specialized field – is becoming a structural element of the way Italian companies think about the future, organize their governance system and make strategic decisions. A change that crosses large listed companies such as family businesses, SMEs and unlisted companies, each with its own specificities and evolutionary trajectories.

LISTEN TO THE RESEARCH PODCAST

LISTED COMPANIES: AN INCREASINGLY INTEGRATED GOVERNANCE

In listed companies, a progressive institutionalisation of sustainability is particularly evident. Dedicated board committees are more widespread and with expanded responsibilities, often explicitly including references to governance, ESG risks and transition scenarios.

At the same time, non-financial performance indicators are increasingly part of top management's remuneration systems: diversity & inclusion, health and safety, emission reduction, energy transition and the quality of ESG assets now contribute in a concrete way to the assessment of the results of top management. Also particularly significant is the growing direct involvement of the CEO, who is often the promoter and strategic guide of ESG issues: a sign that sustainability is entering the heart of decision-making processes.

Among the most relevant elements that emerged is the growing centrality of human resources as enablers of the sustainable transition. Working on sustainability means, in fact, acting on organisational behaviour, developing new skills, creating convergence between functions and promoting a common culture. The continuous relationship between HR functions and Sustainability Managers thus becomes crucial to transform strategic objectives into operational practices, overcome resistance, facilitate internal alignment and give continuity to change processes.

The analysis of FTSE-MIB companies has been included in the volume "Corporate governance and sustainability – The governance of sustainability in large Italian listed companies" (EGEA), edited by Alessandro Zattoni and Marco Minciullo.

DOWNLOAD THE VOLUME

UNLISTED COMPANIES: FLEXIBLE GOVERNANCE IN THE FACE OF COMPLEX TENSIONS

Another area of investigation of the project was unlisted companies, where decision-making processes are often more agile, less formalized and more linked to organizational culture or entrepreneurial leadership.

To interpret the dynamics of these realities, the research adopted the theory of paradox, useful for reading the typical tensions of sustainability paths: between short and long term, between flexibility and formalization, between economic and environmental objectives, between operational needs and stakeholder demands.

The analysis shows that the ability to settle these tensions – achieving a "synthesis" between economic and sustainable goals – increases when multiple functions participate in the decision-making process, top management is actively involved and internal collaboration prevails over mere delegation or functional silos. Surprisingly, this synthesis is easier in smaller companies, where the proximity between people and decision-making roles favors a more integrated approach.

Furthermore, within family businesses, it emerges how sustainability is intertwined with a deep identity theme: legacy, understood as responsibility towards future generations. For many of these realities, sustainability is not just a regulatory adjustment, but a deep-rooted cultural component that guides entrepreneurial choices, relations with the territories, the management of people and the development model. The challenge today is to transform this heritage of values into structured, measurable and transmissible processes, capable of guaranteeing continuity and competitiveness in the long term.

The analysis of unlisted companies has been included in the volume "Deciding for corporate sustainability. Innovative models of governance in Italian unlisted companies" (Franco Angeli), edited by Marco Minciullo, Vittorio Capitani, Matteo Pedrini.

BUY THE VOLUME

BEYOND RESEARCH

The conclusion of the GOST project does not represent a point of arrival, but the beginning of new phases of in-depth study. The sustainable transition is a process that is constantly evolving. GOST wanted to closely observe its mechanisms, critical issues, innovations and above all its transformative potential.

It is now in the hands of companies to continue this path, making sustainability a strategic lever and a distinctive element of the governance of the future.