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13 of Malta’s top business organisations have announced the launch of a new alliance to tackle environmental, social and governance priorities being faced by the country.

The Malta ESG Alliance (MESGA) is a private sector initiative that currently brings together Alberta Group, APS Bank Plc, AX Group Plc, Bank of Valletta Plc, GO Plc, HSBC Bank Malta Plc, International Hotel Investments Plc, Malta Public Transport Services (Operations) Ltd, MAPFRE Malta, MEDSERV Operations Ltd, Melita Ltd, PG Group Plc and Toly Products Ltd.

The Malta ESG Alliance’s founding members’ aspiration is to add committed members substantially from across all economic sectors (whether small, medium or large). Every participating company would be expected to lead by example as an honest and credible inspiration to others.

The first ESG theme to be prioritised will be decarbonisation. The transition to a decarbonised future is critical for the Maltese communities, the long-term resilience and reputation of the organisations they represent and the national economy. 

These initiatives in all of the environmental, social and governance spheres are key to ensure talent retention, attraction of quality talent, reassure shareholder value while reducing business risk among many other motivations.

Some of the projects include renewable energy investments, electrification of transport, fleet management and mobility programs for employees, better design and use of building infrastructure, including a framework to develop near-zero emission buildings in Malta as well as use of technology to reduce emissions. 

The impact of these projects are measurable and tangible and presented as a computation of estimated carbon emission savings delivered by the projects on account of real and absolute objectives. Progress to these objectives will be disclosed to the public periodically.

Prof. Simone Borg, the Malta Ambassador for Climate Action highlighted the importance of national targets and the role the private sector plays in reaching these same objectives.

      

ARTICLE WRITTEN BY MALTA TODAY

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