Measuring the Immeasurable: Investigating the Social Pillar of ESG through the Moncler Case Study

Environmental, Social, and Governance (ESG) criteria have become central to evaluating corporate sustainability and long-term value creation. However, while the Environmental and Governance pillars are supported by increasingly consolidated methodologies and regulatory frameworks, the Social dimension remains the least standardized and the most difficult to assess. Its qualitative, context-dependent nature makes it challenging to define, measure, and compare across industries and regions. This thesis investigates how the Social pillar of ESG can be defined and measured, exploring both academic perspectives and corporate practices to understand how social responsibility can evolve from a qualitative narrative into a measurable and impactful dimension of business strategy. By examining the intersection between theory, regulatory developments, and corporate reporting, the study highlights the conceptual and methodological challenges that hinder the development of consistent and comparable social indicators. Through the empirical case of Moncler S.p.A., a global leader in the luxury fashion industry, the research analyzes how a company can translate complex social values—such as human rights, diversity and inclusion, employee well-being, and community engagement—into tangible practices and performance metrics. The discussion provides theoretical, managerial, and policy implications, proposing possible directions for developing more integrated and credible social metrics that align corporate reporting with real impact. In conclusion, by bridging conceptual insights and empirical evidence, this thesis contributes to a deeper understanding of the Social pillar within ESG—highlighting how the ability to measure and manage social impact has become essential to building corporate legitimacy, stakeholder trust, and sustainable value creation.