Football and sustainability, Standard Ethics assigns ‘E’ rating to Manchester United

Standard Ethics awarded Manchester United the Corporate Rating ‘E’. The Cayman Islands-based football club is a potential component of the SE European Football Index, due out in March 2022, explains a statement. they have become large companies, with various commercial activities, in some cases listed on the stock exchange “. Standard Ethics, the note continues, “examines these companies without introducing favorable factors over the others: the analyst-driven methodology remains centered on the documentation made public and on the elements provided by the regulatory bodies. The analyst’s judgment and the algorithm that weighs ESG strategies taking into account their proximity to indications from the UN, the OECD and the European Union “. The recent Superlega story, examined by Standard Ethics in April 2021, “was a further opportunity to grasp the importance of this sector, and how it impacts multiple stakeholders. Areas such as the fan community; safety and security are mentioned. public order in stadiums; the management of television rights; fair competition; any risks of sporting offenses, including those linked to betting; the supply chain of other industrial sectors such as sportswear or sports construction; up to the models education for the youngest. Issues also dealt with by international organizations in the sector (such as Fifa, Uefa and Ifab). With these premises, the sporting result on the field is no longer the only goal that a football club can look to if it aimed at its own Long-term sustainability, also in the interest of their fans. It is therefore the opinion of the analysts of Standard Ethics, the agency continues, “that environmental, social and governance (ESG) must be adequately reported by Manchester United through sustainability reports drawn up according to the best standards. Otherwise the possibility of measuring the extra-financial impacts is reduced. While appreciating the ‘Anti-slavery Statement’, in which the Club recognizes the importance of some social issues, the Sustainability governance model appears highly feasible. There is still room for action on the ESG Risk management and corporate governance front, taking into account a very concentrated shareholder base and a quantitative composition of the top bodies that appears to be implementable “, concludes the rating agency.