The 20th of July 2023 marked one year from the set-up of the Malta ESG Alliance (MESGA), an initiative bringing together driven and like-minded organisations (with thirteen founding businesses) to collaborate, learn and advocate for change. The objectives of MESGA are to share a common vision for societal change and a competitive Malta; bring benefits to the community; commit to credible, tangible and quantifiable initiatives; tap ESG market opportunities for businesses and the Maltese Islands; regular measuring and reporting progress on initiatives; and motivate businesses sharing the same values to follow and join.
Since its set up, MESGA founding members have committed to a chosen first thematic of decarbonisation and have continued to work on achieving goals linked to this thematic through the implementation of various tangible and measurable projects. These consist of investment in Renewable Energy; promotion and provision of sustainable finance products/portfolios; investment in sustainable mobility and electrification of vehicle fleets, investment in energy efficient technologies; and the drafting of a net zero-buildings framework, amongst others. The estimated carbon emission savings are being updated regularly and it is estimated that 18,110 tons of CO2e will be saved per annum through these first initiatives. MESGA continues to share knowledge and raise awareness with businesses, the community and future generation representatives, through outreach campaigns conducted at schools, stakeholder meetings and discussions with policy makers and social partners.
Recently, MESGA launched the Consultative Council of Future Generations, a delegation comprised of around twenty students representing government, church and independent schools. This initiative is aimed at providing a space for students and business leaders to come together, discuss pressing topics in the ESG realm with the objective of supporting the sustainable development of the Maltese economy and keeping the business leaders uncomfortably accountable in their ambitions on ESG matters in their business decisions and that of the country. Since its launch, discussions around culture and identity, mental health, sustainable development and renewable energy have been held.
MESGA looks forward to continuing to work on prioritised thematics in all of the ‘E’, ‘S’ and ‘G’ space chosen by its members, on welcoming new members, and at the same time collaborating, motivating and informing others to take actions and deliver concrete improvements aimed at bringing valuable and positive change in Malta. MESGA’s vision for Malta is that ESG criteria need to be implemented, both on a company and on a national level. Acting beyond GDP and profits is crucial to ensure the well-being of society, both today and in the future. This can be achieved by building strong communities, training citizens, creating efficient buildings, having sound financial holdings and measuring ESG progress with the support of strong political commitment that design and promote policies and legislation that motivate ESG impact. Inclusive collaboration is crucial to enable a just transformation where no one is left behind and where business actions are regenerative and distributive.
Photocaption: The students from the government, church and independent schools who attended the first meeting of the Consultative Council of Future Generations with a representation from the MESGA Board of Administrators.