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5 NEWS 30.9.2021 Gozo air link, a cargo hub linking the airport and Freeport, and drones feature in draft aviation policy KURT SANSONE DEVELOPING the aviation sector in Gozo is one of the proposals included in the draft Civil Aviation Policy unveiled by Transport Minister Ian Borg. e policy covering the period 2022- 2030 is up for public consultation and identifies 20 objectives to improve the sector and address various issues. It was unveiled on Tuesday. e policy says government is commit- ted to enhance aviation facilities in Gozo and this will "help re-establish commu- nication by air to and from the island". "Such projects will also create oppor- tunities for aviation related activities that can create new jobs, new skills, and enhance creativity and innovation," the policy document states. It follows on the commitment made by Prime Minister Robert Abela a fortnight ago when he said government was com- mitted to set up an air link between Gozo and Malta. He also said that a runway in Gozo will not take up agricultural land. But the policy also makes brief reference to a development plan for the airport zone in Malta, which is still being drafted. e idea behind the development plan is to optimise the use of aviation-relat- ed resources and land within the airport grounds and their immediate surround- ings. "e government's commitment to the sector includes a new Airport Zone Stra- tegic Plan (AZSP) which has reached its final drafting stage. rough this plan, the government aims to address the chal- lenges being experienced within the area, such as lack of aircraft parking facilities, inefficient manoeuvring of aircraft onto and off the runways, and hangarage. Bet- ter utilisation of airport land resources will allow for further growth, while at the same time attract local and foreign investment," the policy says. An airport masterplan started being drafted in 2018 by what was then known as Malta Industrial Parks – it has since been renamed INDIS Malta – a govern- ment agency responsible for industrial land. Foreign specialised firms were con- tracted to draw up the plan but since then there have been no public announce- ments. Air-sea cargo hub e aviation policy also addresses the need to analyse the potential of develop- ing an intermodal cargo hub between the airport and the Freeport. "e government seeks to expand reg- ular scheduled air cargo services, and enhance the nation's airfreight handling capabilities. Considering Malta's strate- gic location in the middle of the Medi- terranean Sea, and its airport's vicinity to the Freeport, this policy aims to explore Malta's potential to become a leading re- gional cargo hub for air-sea cargo traffic between Europe, Africa and the Middle East," the policy reads. It emphasises the need to work with all stakeholders to remove any bureaucratic and legal hurdles that currently exist to improve the efficiency of cargo transfers. Developing a drone sector One other aspect highlighted in the policy is the possibility of developing a drone sector. "Malta offers significant benefits for the expansion of the RPAS industry (drones), mainly owing to its strategic location, operational climate, the ease of the necessary coordination between different supporting stakeholders, and the presence of a technical workforce," it says. e policy emphasises the need to maintain a close partnership with both public and private stakeholders, as well as regulatory bodies, to ensure the es- tablishment of proper air traffic man- agement, adequate training, and infra- structure, that enable the country to reap benefits from this emerging niche. "e government will therefore ensure that Malta takes advantage of the op- portunities offered through this growing niche through continuous development of necessary national legislation and infrastructure, aimed to attract related businesses for RPAS demonstrations, flight testing and certification services," the policy suggests. e Civil Aviation Policy public con- sultation is open until 28 October 2021 and the document can be accessed on the government's public consultation website. THE Malta Institute of Accountants set the ball rolling about corporate sustain- ability reporting with the Biennial Con- ference held on 22 September 2021. e event attracted accountancy and audit- ing professionals as well as specialists in other key business areas to learn about a new framework proposed by the Euro- pean Commission that will standardise non-financial reporting for a section of the private sector. e theme of the conference 'A New Mindset – Reduce. Reuse. Report.' set the tone for a discussion about the need for change in the way businesses assess their impacts and the role of profession- als to guide companies on matters relat- ing to the environment, social issues, and governance (ESG). "Sustainability has practical implica- tions for our personal lives and business success," said MIA President Fabio Axi- sa in his introduction to the event. "We might, at times, feel detached from ESG issues and think that an island like Mal- ta will not be affected by changes in this direction, the stark reality cannot be any more different:" Axisa said there is increasing aware- ness about ESG matters in the investor community as well as the wider public, adding that effective reporting is crucial to driving this transformation: "e pro- posals by the EU seek to achieve com- parability and consistency in assurance reports on sustainability." e Corporate Sustainability Report- ing Directive requires a category of com- panies to disclose information on their actions and impacts on social and envi- ronmental issues. Addressing the MIA event, European Commission Team Leader omas Dodd, said that new directives reflect a growing need that is felt in society, industries, and the profes- sions. Accountancy Europe CEO Olivier Boutellis-Taft urged participants at the conference to be ready to lead a change in corporate mentality. He commended the MIA for putting the focus "where it should be" and said that, while it is the responsibility of policymakers to make the right choices, decisions must be based on accurate information. e conference was addressed by a prestigious lineup of experts from Mal- ta and other jurisdictions, among them Prime Minister Robert Abela and Oppo- sition Leader Bernard Grech. e pro- gramme included top officials from local and European regulators in the financial services sector as well as representatives of the business community and relevant sectors. International specialists from the As- sociation of Chartered Certified Ac- countants, the Institute of Chartered Ac- countants in England and Wales, CORE Europe Direct Centre, International Fed- eration of Accountants, and Big 4 Inter- national and Local Sustainability Cham- pions also took part in the conference as guest speakers and panellists. e CEO of the Institute, Maria Cauchi Delia, said that accountants and auditors are well-placed to guide decision-mak- ers on sustainability reporting issues and that the new requirements open new op- portunities for the profession. "e new proposed directive extends its catchment area to cover all large compa- nies, supporting investors' increasing de- mands for sustainable reporting as well as holding these companies accountable to society at large," Cauchi Delia said. She said that the MIA is taking an ac- tive role in raising the subject matter on the agenda and is providing feedback on proposals to relevant stakeholders as well as helping members to understand and adapt to the proposed changes. e Biennial Conference was the first event open to non-members of the MIA since the start of the pandemic. e pro- gramme complied fully with the safety precautions issued by health authorities. Accountants eye opportunities in new sustainability requirements

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