Gruppo TIM
Gruppo TIM

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ESG indexes and ratings

Sustainability indexes are stock indexes in which securities are selected not only on the basis of economic-financial parameters but also in the light of social and environmental criteria. The selection process is carried out by specialised agencies that assess companies on the basis of publicly available information or questionnaires, taking account of opinions expressed by media and stakeholders. Inclusion in these indexes is of strategic importance to companies, both for the positive repercussions on their reputation and for the fact that, in addition to the pension funds and ethical funds, an ever increasing number of investors favour sustainable companies, considering them to be less risky and more promising in the medium to long term.

Taking part in the process of evaluation is, moreover, a timely moment for reflection within the company on the results achieved. The suggestions of the rating agencies at the end of the process are taken into consideration when planning improvement actions in the future.

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Latest updates

In October 2021 TIM has joined the new MIB® ESG index launched by Euronext and Borsa Italiana.

The new basket is dedicated to blue chip companies listed in Italy who adopt the best environmental, social and governance (ESG) practices.

The composition of the index is based on the analysis of ESG criteria by Vigeo Eiris (V.E.), a Moody’s ESG Solutions company, which assesses the ESG performance of issuers.

The methodology underlying the index,  provides a ranking of the 40 best companies on the basis of ESG criteria, chosen from the 60 most liquid Italian companies, excluding those involved in activities that are not compatible with ESG investments.

In January 2022, TIM has been confirmed for the second time in Bloomberg Gender Equality Index (GEI), an international index that measures companies' performance regarding gender equality issues and the quality and transparency of their public reporting. 

The presence confirms the commitment and performance in the realm of promotion and integration of gender diversity throughout the Company’s entire value chain.

In November 2021 TIM was confirmed for the eighteenth consecutive year in the Dow Jones Sustainability Europe and World Indices  of S&P Global.

During the phase of gathering information and setting out response strategies for the Dow Jones, more than 100 persons from almost all TIM areas are involved: the broad scope of the topics covered – often very different from one other – means that almost the entire company is involved.

SPG - Enterprise-686407_Yearbook Award Logos - Logos Master File FINAL

TIM received the important award Bronze Sustainability Yearbook Award 2022

Over 7,500 companies assessed, only 700 companies made it in the Yearbook with top scores. All companies receiving a total score of at least 54 and whose score is within a range of 5% to 10% of the industry’s top-performing company’s score, receive the Bronze Class Award. For TIM, it is an important milestone thanks to its inclusion in the Dow Jones Sustainability Index World and the Dow Jones Sustainability Index Europe, which demonstrates the Group’s increasing commitment to sustainability issues.

Following the July 2021 review TIM has satisfied the requirements for being confirmed as a constituent of the FTSE4Good Index Series in which the company has been included since its inception, in 2003.

In September 2021, TIM has been confirmed one of the top 100 companies in the Refinitiv Diversity and Inclusion Index, top 3 in Italy and in the worldwide TLC sector.

The Index, launched in 2016, ranks the top 100 publicly traded companies globally with the most diverse and inclusive workplaces through environmental, social and governance data. TIM's inclusion in the Diversity and Inclusion Index confirms the Group's commitment to equal opportunities, non-discrimination and inclusion, issues that TIM considers to be strategic for improving business.

In 2021, once again TIM submitted its environmental information to CDP’s climate change program.

TIM has been placed in the B- band according to the scoring methodology based on four bands (D to A) introduced last year by CDP. The result achieved by TIM means for investors strong environmental awareness, advanced sustainability governance and leadership to address climate change.    

CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information.

In 2019 CDP invited the 100 largest stock-listed companies in Italy to respond to the CDP climate change questionnaire on behalf of 525 institutional investors, representing  US$ 96 trillion in assets.

TIM defined a corporate strategy based on the TIM Shared Value Model. The culmination of this process is the integration of the sustainability approach, including our strong commitment to contributing to the fight against climate change, into our corporate strategy for creating economic and social value.

TIM for climate change - read the article

In the last assessment TIM obtained high scores for its environmental, social and governance performance and as of September 2021 it is confirmed in the following Euronext Vigeo Eiris indexes:

World 120, which ranks the 120 listed companies with the highest level of corporate social responsibility in Europe, North America and the Asia Pacific region.

Eurozone 120 which ranks the 120 listed companies with the highest level of corporate social responsibility in the Eurozone.

Europe 120 which ranks the 120 listed companies with the highest level of corporate social responsibility in Europe.

Euronext Vigeo Eiris indexes distinguish companies achieving the most advanced Environmental, Social and Governance performances. The indexes components are reviewed every year.

In May 2020 TIM has been reconfirmed as a constituent of the Ethibel Sustainability Index (ESI) Excellence Europe.

TIM position in the other indexes

TIM has been reconfirmed for inclusion in the Ethibel PIONEER and Ethibel EXCELLENCE Investment Registers since 02/02/2018. This selection by Forum ETHIBEL indicates that the company can be qualified as a sector leader in terms of Corporate Social Responsibility (CSR).



TIM is classified as "prime" in the ISS ESG rating.
The assessment of a company’s sustainability performance is based on approximately 100 criteria, selected specifically for each industry.


TIM is classified as "industry leader" in December 2019 and in November 2020  has been evaluated low risk rating by the  Sustainalytics Report.


ECPI Indexes:

    ECPI Euro Ethical Index

    ECPI EMU Ethical Index

    ECPI Global Developed ESG Best in class Equity

Tim Participações, the listed holding company of the TIM Brasil Group, has had its position confirmed in the ISE (Índice de Sustentabilidade Empresarial) index, managed by BM&F Bovespa (the São Paolo stock exchange) together with the Brazilian Environment Ministry and other financial sustainability organisations.

The index consists of 35 companies which have obtained the highest scores in terms of sustainability and represent more than 44.75% of the total value of companies listed on the BM&FBOVESPA.