Case Study: How modefinance’s ESG Rating strengthened Better Silver’s growth

In recent years, sustainability has become a key element for companies looking to strengthen their competitiveness and respond to the growing demands for transparency from clients, partners, and institutions. Integrating ESG practices into business processes is no longer just an ethical choice, but a winning strategy for generating long-term value.

In this case study, we will explore the journey of Better Silver, an Italian leader in the jewelry industry, which has chosen to embark on a path toward sustainability with the support of modefinance’s ESG Rating. Through the insights of Paolo Bettinardi, CEO, and Paolo Piovesan, CFO of Better Silver, we will delve into how this strategic choice has strengthened relationships with key stakeholders, improved international competitiveness, and consolidated the company’s commitment to responsible and transparent growth.

“For Better Silver, sustainability is not just a strategic choice, but a deeply rooted value embedded in the company’s DNA and family culture, guiding the business since its foundation. From the early years of activity, long before sustainability became a widely discussed topic, we had already adopted an approach based on common sense and respect for the environment, people, and the local community. Located in a small town in the Vicenza countryside, Better Silver has always felt a strong responsibility toward the territory and its inhabitants, fully aware of the importance of operating in harmony with the surrounding environment,” says Paolo Bettinardi, the company’s CEO.

The company’s formal journey toward sustainability began over a decade ago with the achievement of ISO 9001 certification, which introduced a structured approach to quality and business management. In 2018, Better Silver became the first in its industry to obtain SA8000 certification, dedicated to social responsibility, a voluntary choice that allowed them to ensure ethical and transparent working conditions throughout the entire production chain.

Their commitment continued with the publication of their first sustainability report in 2021 and the achievement of additional certifications, such as ISO 14001 for environmental management and ISO 45001 for occupational health and safety. A significant milestone was reached with the ESG rating obtained through modefinance, further strengthening transparency and the measurability of their sustainable goals.

Better Silver has also implemented concrete policies to reduce its environmental impact, using only 100% recycled silver and electricity sourced entirely from renewable energy. The use of recycled silver is particularly relevant in the precious metals industry, as it helps avoid the extraction of new resources—an extremely impactful process. In fact, producing just a few grams of silver can require the movement of up to two tons of soil.

“Better Silver’s decision to rely on modefinance’s ESG Rating stemmed from the need to anticipate market and financial stakeholder demands, strengthening our transparency and competitiveness.

The choice to adopt an ESG rating was driven by the awareness that, in an ever-evolving regulatory landscape, medium and large companies will increasingly be required to transparently report on their environmental, social, and governance performance. We chose to take a proactive approach, voluntarily embarking on this journey to solidify our sustainability strategy and prepare in advance for future regulations. Partnering with modefinance has brought numerous advantages,” explains Paolo Piovesan, the company’s CFO.

These advantages include:

• A clear and structured mapping of ESG parameters, with measurable key indicators
• Reduced time needed to manage ESG requests from financial institutions and business partners
• Greater credibility and access to new business opportunities, especially in markets more advanced in sustainability.

"The ESG rating has proven to be an effective tool for engaging with international clients and partners. While keeping the full report for internal use, we were able to share key information with strategic stakeholders, receiving positive feedback that confirmed the value of our choice.” – Paolo Piovesan

“The collaboration between Better Silver and modefinance began during an event I attended,” says Paolo Piovesan, CFO. “On that occasion, I had the opportunity to listen to a presentation by Mattia, during which I appreciated his ability to simplify complex financial concepts with clarity and effectiveness.

What truly impressed me was modefinance’s discreet and non-intrusive approach—no commercial pressure, just constant availability at the right time. Three years after our first meeting, we decided to deepen our collaboration by starting the process for the ESG Rating.

Attending cross-industry events has proven to be a winning strategy, providing valuable insights and fostering strategic connections that have enriched our company’s journey toward innovation and sustainability.”

“Obtaining the ESG rating is a key strategic tool for Better Silver, positively influencing relationships with partners, suppliers, and stakeholders. This recognition not only strengthens the company’s credibility but also creates new collaboration opportunities, especially with organizations that place sustainability at the core of their policies,” emphasizes Paolo Bettinardi.

This impact unfolds across three main levels:

• Suppliers and financial institutions: Greater ESG transparency facilitates risk assessments and improves credit access conditions
• Clients: Large corporations, including international ones, demand high ESG standards, making the rating a competitive advantage for strengthening existing relationships and developing new partnerships
• Internal work environment: The ESG journey has fostered cultural and organizational growth, leading to initiatives such as corporate welfare plans and clear continuous improvement goals.

Founded in 1977 in Vicenza, Better Silver is now an international leader in the design and production of silver jewelry, specializing in silver chains for major industry players. The company, born from the entrepreneurial vision of Romano and Maurizio Bettinardi—father and uncle of Paolo—has successfully transformed a small artisanal workshop into a globally recognized industrial enterprise while staying true to the values of Italian tradition.

Better Silver’s strength lies in its fully integrated production chain: from raw material procurement to final labeling, every stage takes place in-house, ensuring complete control over product quality. The two production facilities in the province of Vicenza, employing around 120 people, work in perfect synergy with the Romanian branch, which has been operational for over twenty years. With approximately 250 employees, this facility handles the most labor-intensive processes.

This organizational structure allows Better Silver to offer a wide range of solutions, from its own proprietary collections—regularly showcased at major industry fairs—to customized projects for brands and retail chains, as well as the supply of semi-finished products to other manufacturers. With a strong international presence, the company exports to over 60 countries, collaborating with prestigious brands, global retailers, and specialized wholesalers.

The balance between traditional goldsmithing and technological innovation has enabled Better Silver to strengthen its position in highly competitive markets, such as the United States, and to continue growing while maintaining a focus on quality, reliability, and a passion for Italian design.