Issue link: https://maltatoday.uberflip.com/i/1482153
4 NEWS 20.10.2022 NSO figures show that, in the first half of 2022, the total expenditure on contributory and noncontributory social benefits rose by €32.6m over the same period in 2021 and by €60.1m over the half of 2020. The increased expenditure on social benefits in the first half of 2022 pushed the total social protection expenditure in the same period to €987.6 million, putting its overall share of GDP at an estimated 14.7 per cent. social benefits OVER 200 delegates from all over the globe convened in Malta towards the end of September for the Gener- al Assembly and Annual Meeting of the World Federation of Exchang- es (WFE), which was hosted by the Malta Stock Exchange (MSE). e event was deemed a success by the Executive Chairman of the Malta Stock Exchange Joseph Portelli, who said: "e WFE represents over 300 exchanges from all over the world, including NASDAQ, the Japan Stock Exchange and the London Stock Ex- change. It was a great opportunity for the MSE and Malta to host these exchanges for the prestigious annual WFE General Assembly." He added: "e fact that the event was held in our country is a testa- ment to the fact that our financial services industry is growing and is becoming respected on the interna- tional stage." is was the 61st General Assem- bly of the WFE and the three-day event featured various keynote speeches, plenary panel session as well as fireside chats. Mr Portel- li was one of several speakers who addressed the event. In fact, he was joined by the CEO of the WFE Nandini Sukumar in the opening ceremony. Among the distinguished speakers were the Prime Minister of Malta, Hon. Robert Abela and the Minister for Finance and Employ- ment, Hon. Clyde Caruana. Leaders of global exchanges, reg- ulatory authorities, the buy-side, industry experts from academia and the media gathered together for in- depth discussions on major issues surrounding the exchange indus- try. Discussions also centred on the prevailing market conditions and ranged topics on market resilience, liquidity, and regulation, as well as innovative market technology and the crypto market space. The Executive Chairman of the Malta Stock Exchange, Joseph Portelli, addressing the 2022 General Assembly and Annual Meeting of the World Federation of Exchanges in Malta and which was hosted by the MSE last month Over 200 delegates attend World Federation of Exchanges General Assembly 2022, held in Malta RSM Malta and Bureau Veritas form strategic partnership SAFEGUARDING the Bank during uncertain times and the future of Risk Management were the subjects dis- cussed during a five-day internal staff training conference organised by Bank of Valletta. Various speakers from the Universi- ty of Malta, McKinsey, Deloitte, ESG Alliance, Grant ornton, Avant Gar- de, BDO Chapelle Consulting, and BOV personnel took to the stage to share their knowledge and expertise on a wide range of topics. Self-care sessions focusing on mindfulness and mental well-being were also on the agenda. Conference participants challenged their Climate Change knowhow dur- ing an ESG quiz entitled "Climate Change: A Global Jenga Game". e quiz was designed by the Bank's ESG Unit with the assistance of the Julian's Pathfinder Foundation, a foundation supported by the Bank aimed at sup- porting gifted children in reaching their full potential. Bank's Chairman Dr Gordon Cordi- na, Director Alfred Mifsud, CEO Ken- neth Farrugia and Chief Risk Officer Miguel Borg spoke about the chal- lenges and opportunities of emerging technologies and climate change on the Bank's strategy and operations. Miguel Borg, Chief Risk Officer, said: "Our full line-up of speakers made ex- cellent additions to the conference as the team discussed agile risk manage- ment, climate change, artificial intelli- gence, digitalisation and various other topics of interest to the Bank and the Maltese economy." BOV staff attend training on future of risk management BOV Chairman Gordon Cordina ON 30 September, during an official launch, RSM Malta and Bureau Veritas signed a Memorandum of Understand- ing for the joint provision of ESG (En- vironmental, Social, and Governance) advisory services. Representatives of Malta's leading or- ganisations attended the event, which was addressed by George Gregory (Man- aging Principal, RSM Malta), Vanessa D'Amato (Managing Director, Bureau Veritas), Steve Ellul (Ministry for the En- vironment, Energy and Enterprise) and Mikolaj Potocki (Sustainability Business Unit Manager, Bureau Veritas). e partnership between the two firms aims to usher in a renewed collaboration within Malta's business community to- ward achieving common ESG goals. "By forging this strategic partnership, we are combining RSM's expertise and knowl- edge in the social and governance areas with Bureau Veritas' extensive specialisa- tion in the environmental field. Both par- ties believe that synergies can be attained by combining our core competencies to service our clients better," said Gregory during his address. D'Amato highlighted "e reality of the matter is that the services we are discuss- ing today have been around for a signif- icant number of years - climate change, human rights infringements, good gov- ernance, or the lack of, have been appar- ent to all for many a year - but now is the time to change and inflict change in the most effective and efficient manner pos- sible and this is why we stand before you today – two reputable companies joining forces to deliver services that will enable you to meet the challenges of safety, the environment, social responsibility and a good quality of product and service." In his address, Steve Ellul made refer- ence to the global climate change crisis and why it is important that collectively we take action. He highlighted the nu- merous initiatives that the Ministry for the Environment, Energy and Enterprise has embarked on and emphasised the importance of alliances, like the one be- tween RSM and Bureau Veritas, aimed at combining expertise to achieve the UN's Sustainable Development Goals. Potocki delivered a presentation high- lighting the ESG services available to companies through the strategic part- nership between RSM Malta and Bureau Veritas Malta. e event was concluded with a networking breakfast.