Issue link: https://maltatoday.uberflip.com/i/1474118
3 NEWS 21.7.2022 FROM PAGE 1 e Malta ESG Alliance's founding members' aspiration is to add commit- ted members substantially from across all economic sectors (whether small, medium or large). Every participating company would be expected to lead by example as an hon- est and credible inspiration to others. e first ESG theme to be prioritised will be decarbonisation. e founding members explained how each and every one of them, following a series of workshops and discussions, have embarked on different tangible and measurable projects which will help in reducing their respective carbon footprint. e 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. ese initiatives in all of the environ- mental, social and governance spheres are key to ensure talent retention, at- traction of quality talent, reassure shareholder value while reducing busi- ness risk among many other motiva- tions. Some of the projects include renewa- ble energy investments, electrification of transport, fleet management and mo- bility programs for employees, better design and use of building infrastruc- ture, including a framework to develop near-zero emission buildings in Malta as well as use of technology to reduce emissions. e impact of these projects are meas- urable and tangible and presented as a computation of estimated carbon emis- sion savings delivered by the projects on account of real and absolute objectives. Progress to these objectives will be dis- closed to the public periodically. Perit David Xuereb addressed the need and urgency for honest and responsible changes in Malta, giving an overview of the motivations and intent of the Alli- ance: "We are today witnessing significant developments driven by Maltese re- sponsible and reputable business organ- isations who have chosen to collaborate in an unprecedented manner," he said. "ese businesses are demonstrating great maturity by jointly committing to take the necessary and effective actions to be truly impactful to motivate and drive a sustainable and healthy society in good time." Xuereb said that although the initia- tives are not straight-forward, by col- lectively championing long-term value ahead of short-sighted gains or profit, the participating businesses stand to focus on what matters most by walking- the-talk and credibly leading by exam- ple. ESG makes business sense, he insisted. "e objective of MESGA after launch is to reach out to all business and sup- ply-chain to develop momentum that will reach the desired tipping points," he said. "We will be increasing initiatives that drive absolute decarbonisation actions and explore further ESG goals and ac- tions." Prof. Simone Borg, the Malta Am- bassador for Climate Action highlight- ed the importance of national targets and the role the private sector plays in reaching these same objectives. "rough this formidable initiative, the Alliance members provide the re- quired synergy, forward planning and investment in capacity building that is essential to implement the green transi- tion.in measurable terms," she said. "e Alliance's choice to primarily focus on decarbonization transmutes the members into pioneering entrepre- neurs that will lead by example and be- come trendsetters in Malta's vision for a sustainable, climate neutral economy." Chris Meilak, Partner and Sustaina- bility Leader for EY Malta, outlined the importance such an Alliance will play in the local market. "Several companies have been work- ing independently to incorporate ESG factors into their annual reporting or through stand-alone initiatives, but it is fair to say more can and must be done. By coming together, best practices are shared, and we learn from each other while increasing the positive ripple that will be felt all over Malta." e Alliance will be announcing fur- ther initiatives and actions soon. Malta ESG Alliance to focus on decarbonisation as first priority MIFSUD & Mifsud Advocates this week marks its 15th year anniversary from its inception. e firm was set up in 2007 by two brothers, Malcolm and Cedric Mifsud and throughout the years, it has established it- self as a leading business law firm in Malta. It has since then grown or- ganically and led to the in- corporation of its two sister companies, Aegis Corporate Services Limited, a licenced corporate services company and MMPS Limited, a payroll company engaged by a number of Maltese registered yachts. e firm's in house notary and accountant also ensure that the client's needs are catered for, all in one place. Mifsud & Mifsud Advocates has established itself to be proficient in a number of ar- eas, which include yachting and maritime law, commercial and corporate law, labour law, immigration law, intellectual property law, and property law, just to mention a few. It is experienced both in ad- versary and litigation and has provided legal services to a vast number of individual and corporate clients over the last fifteen years. e firm celebrated the anni- versary with a dinner set in the majestic surroundings of Ta' Betta Winery in Siggiewi. e partners said the Firm is determined to continue offer- ing a high standard of service and will strive to continue growing and providing inno- vative solutions to its clients in the years to come. 15-year anniversary for Mifsud & Mifsud Advocates Left to right: Perit David Xuereb, Prof. Simone Borg, Malta Ambassador for Climate Action, and Chris Meilak, Partner and Sustainability Leader for EY Malta