Criptovalute sempre più volatili ed esposte al rischio cyber. A settembre 2023 valore più che dimezzato rispetto a fine 2021. Migliora la gestione dei rischi Esg da parte delle imprese dell’area euro nei dati del secondo rapporto Consob su investimenti sostenibili e criptoattività (Comunicato stampa del 20 novembre 2023)

Consob published the second edition of the annual report Emerging trends in sustainable investments and cryptoasset markets. The report provides insights into the performance, risk exposure, and trends in ESG investments, traditional financial markets, bonds, sustainable funds, and the volatile world of crypto-assets, emphasizing the importance of sustainability and cybersecurity in these markets.
The high volatility of cryptocurrencies is increasingly recognized as a structural characteristic of this asset class. As of September 2023, the market value of cryptocurrencies was more than 50% lower than at the end of 2021. The cybersecurity of cryptocurrency applications remains a critical concern, with only a small percentage of platforms considered very secure. This high vulnerability to cyber attacks was significantly, with approximately $3.8 billion globally stolen in hacker attacks in 2022, up from $3.3 billion the previous year. the markets have experienced significant setbacks due to negative events in 2022. As of September 2023, the market value of major cryptocurrencies, such as Bitcoin and Ether, is over 50% lower than at the end of 2021 and the annualized return of Bitcoin was only slightly higher than that of other non-digital asset categories but with significantly higher volatility.
Interest and investments in crypto-assets have sharply declined, with ownership concentrated in Asian countries.
In the sustainable investment landscape, the Sustainalytics ESG Risk Score shows a positive trend in the euro area, reflecting a decreasing trend from December 2019 to December 2022, indicating improved capabilities of companies in managing ESG-related risks. The analysis by sector reveals that utilities and energy companies generally have higher exposure to ESG risks compared to manufacturing or financial sectors. The report focuses on Italian listed companies, finding that those with higher sustainability scores tend to have greater liquidity and capitalization.
Regarding sustainable funds in Italy, the majority have above-average Morningstar sustainability ratings, fall under the SFDR classification, and belong to the equity category. Most funds are not domiciled in Italy, and around 60% have been established within the last six years.