Issue link: https://maltatoday.uberflip.com/i/1504697
maltatoday | SUNDAY • 30 JULY 2023 10 COMMERCIAL KOPERATTIVI Malta (KM) stands in agreement with recent articles, including those by the Malta Chamber and the MHRA , which highlight pressing con- cerns affecting the nation. Issues such as traffic, power outages, waste management, economic challenges, and declining qual- ity of life have become promi- nent topics of discussion across various platforms. In response to these challeng- es, KM firmly believes that em- bracing sustainable, communi- ty-based business models offers a potential solution. Rather than relying solely on government assistance, the co- operative model offers an im- portant vehicle to drive positive change in Malta's economic landscape. The cooperative approach in- volves citizen-owned business- es that prioritize sustainability and community well-being. By promoting and fostering such cooperatives, Malta can pave the way for a more resilient and inclusive economic future. Addressing the challenges as citizens According to the 2023 edition of the State of the Nation sur- vey, Malta's quality of life has experienced a sharp decline. Since 2021, the percentage of individuals perceiving their standard of living as below av- erage has nearly doubled, rising from 5% to 9%. Concurrently, the proportion of those consid- ering their standard of living to be above average has declined from nearly 20% to 12%. Ad- ditionally, close to one-fifth of respondents express a desire to have been born in a different country. Daniel Schembri, CEO of Ko- perattivi Malta stated: "These concerning trends highlight the urgent need for effective, long-term solutions to improve living standards. Citizens hold more power than they think in driving change. Beyond govern- ment involvement, people have the opportunity to join forces for a common purpose to ad- dress these issues that are im- pacting businesses and citizens alike." Schembri went on to explain that by pooling costs, resourc- es, expertise, and efforts, coop- eratives unlock their collective potential, benefiting both mem- bers and their communities. This approach distributes risks across the group, enhancing re- silience to market disruptions and reducing individual vulner- abilities and making them ideal for sustainable growth. What is a cooperative? A cooperative is a unique busi- ness entity owned and operated by its members who come to- gether with a shared purpose. Typically consisting of five or more like-minded individuals, cooperatives function demo- cratically and can be found in various sectors, including ag- riculture, finance, housing, en- ergy, retail, and worker-owned enterprises. There are a number of exam- ples internationally where co- operatives have been created by individuals to address national issues. One such example is The Zee- wolde wind farm in the Nether- lands where over 200 farmers and local residents created the largest onshore wind farm in the Netherlands with 320 MW of installed capacity. The wind farm was developed through a collective investment of $500 million by households in the project area. It comprises 83 wind turbines, including different types from Vestas, with a total capacity of 3.9 MW per turbine. The wind farm can supply electricity to around 300,000 homes, offering the participating farmers a reli- able source of income alongside their traditional harvests. The construction was completed on schedule and within budget, with smaller wind turbines nearby set to be removed by the end of 2026. In the local context, the coop- erative model has also started being advocated as a solution to address pressing environmen- tal challenges. One successful example is GreenPak, a packag- ing waste recovery organization that operates as a cooperative venture, promoting recycling and responsible waste disposal practices. Other potential cooperative ideas include car-sharing initia- tives to reduce traffic and emis- sions, sustainable food provi- sion cooperatives supporting local farmers, educational enti- ties promoting environmental awareness, and waste manage- ment assistance cooperatives which can further alleviate na- tional issues and pave the way to a more sustainable future. By encouraging citizens to join forces through coopera- tives, Malta can foster sustain- ability, resilience, and commu- nity-driven positive change, leading to a more inclusive and environmentally conscious eco- nomic future. Koperattivi Malta urges busi- nesses and individuals to em- brace these collective efforts for the nation's well-being. Taking action Koperattivi Malta urges busi- nesses and citizens to consider this shift towards sustainable cooperative models as a collec- tive effort to address the na- tion's current challenges effec- tively. Together, citizens have the power to make a lasting im- pact on Malta's overall prosper- ity and well-being. Koperattivi Malta encourages citizens to form cooperatives to addres Malta's environmental challenges MeDirect renews Otters ASC sponsorship MEDIRECT has renewed its sponsorship of Otters ASC, the only waterpolo club in Gozo. Through this new agreement, MeDirect will be supporting the club's senior waterpolo team and its swimming acade- my. In addition, it will be spon- soring all of the teams playing in national competitions or- ganised by the Aquatic Sports Association of Malta at under 11, under 13 and under 15 lev- el. Frances Zammit, Senior Of- ficer at MeDirect's investment centre in Gozo, said, "MeDi- rect has developed a strong partnership with Otters ASC over several years. Our com- mitment to Otters, which is not just a waterpolo club, but a key stakeholder in in the Gozitan community, particularly when it comes to helping young peo- ple develop in a healthy and active environment, is unwa- vering. We are looking forward to another great year of collab- oration." Established in 1971, Otters ASC joined the Maltese water- loo league system on a perma- nent basis in 1982, as all other Gozitan clubs slowly became defunct. The Marsalforn based club continues to participate in na- tional leagues despite the logis- tical and financial challenges of operating from Gozo. Enzo Dimech, President of Otters ASC, said, "Our club needs the support of sponsors like MeDirect to continue of- fering its services to the com- munity and to continue com- peting at all levels in Malta's waterpolo competitions. We are grateful for the long- term commitment which Me- Direct has shown towards Ot- ters over many years and look forward to another successful summer for all our players, stu- dents, and members." More information on Otters ASC is available at https://ot- tersasc.club/ Jessica Muscat, Senior Officer – Wealth at MeDirect's Gozo investment centre presenting the sponsorship to Paul Dimech, Vice President of Otters ASC. Also present were Frances Zammit, Senior Officer at MeDirect's investment centre in Gozo together with John Borg and Frank Said from Otters ASC.