ITALY Law and Practice Contributed by: Francesco Fonderico, Elettra Monaci, Eugenio Fidelbo and Marco Pellizzola, Ambientalex Studio Legale
Further, at a national level, the Ministry for Agricul - ture and Ministry for Environment have adopted Joint Decree 15 October 2025, which sets up guidelines for the implementation of a National Public Carbon Credit Registry. The Registry is administered by the National Council for Agricultural Research and Analysis of Agri - cultural Economics ( Consiglio nazionale per la ricerca in agricoltura e l ’ analis dell ’ economia agraria – CREA). 3.2 Carbon Pricing and Trade Impacts The Italian jurisdiction intends to participate in the carbon market evolving under Article 6 of the Paris Agreement. It may be assumed that the most relevant future devel - opments will concern: • the EU ETS, which will be extended to other sectors such as maritime, construction and road transport; and • the implementation of the Carbon Border Adjust - ment Mechanism (CBAM), adopted by the Regula - tion (EU) 2023/956. The CBAM is a mechanism designed to put a fair price on carbon emissions generated during the production of carbon-intensive goods entering the EU, with the aim of also promoting cleaner industrial production in third countries. At first, the CBAM will only apply to a selected num - ber of goods at high risk of carbon leakage – iron and steel, cement, fertiliser, aluminium and electricity generation – to be gradually extended to other goods. Under the Regulation, importers of goods subject to the CBAM (or their indirect customs representa - tives) are required to apply for the status of author - ised CBAM declarants, in addition to complying with a number of other obligations. On 3 July 2025, the Commission announced a plan aimed at mitigating the risk of carbon leakage for exporters. The goal is to support producers of goods exposed to this risk and ensure equal treatment for all goods, whether they are produced and sold in the EU, imported into the EU or exported.
According to Dossier No 61 of 18 February 2022, pre - pared by the Italian Chamber of Deputies, Italy is one of the member states with the highest percentage of imports in the CBAM sectors, with 26.6% for steel, 3.7% for cement, 7.3% for fertilisers and 19% for aluminium. Considering that, it can be assumed that this may cause an increase of the prices of import - ed goods belonging to the categories subject to the CBAM Regulation. However, recently, Italy has asked the European Com - mission for the immediate retroactive suspension of the CBAM – the Carbon Border Adjustment Mecha - nism, set to take effect on 1 January 2026 – for cer - tain sectors. This is because the situation has been exacerbated by the war in the Middle East and the resulting rise in gas prices, as well as difficulties in importing certain goods. 4. Liability for Climate Change and ESG Reporting 4.1 Liability for Climate Change and ESG Reporting Sustainability Reporting Mechanism Under the Corporate Sustainability Reporting Direc - tive (CSRD), companies shall comply with to Euro - pean Sustainability Reporting Standards (ESRS). CSRD provisions apply from the 2024 financial year, for reports published in 2025. Italy has implemented the CSRD through Legislative Decree 6 September 2024, No 125. More recently, Directive (EU) 2026/470 amended, among other instruments, Directive 2013/34/EU and the CSRD, with the aim of reducing compliance bur - dens on companies. The reform seeks, on the one hand, to reduce the number of companies subject to reporting requirements and, on the other hand, to streamline the information to be included in sustain -
ability reports. National Policy
The TCFD has scarcely influenced the Italian legal system. Instead, this has occurred mainly via EU law. In 2017, the TCFD issued its first recommendations, which were implemented by the European Commis -
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