Issue link: https://maltatoday.uberflip.com/i/1511791
maltatoday | SUNDAY • 19 NOVEMBER 2023 9 COMMERCIAL Banks' sustainability incentives key factor for prospective homeowners – K PMG report PROSPECTIVE homeowners who plan to buy their property by means of a bank loan tend to give high importance to sustaina- bility incentives offered by banks, as well as the availability of online home loan application capability, and flexibility offered for home loan appointments. These in- sights were presented during the latest Construction Industry and Property Market Report, con- ducted by KPMG and which was co-sponsored by Bank of Valletta alongside other local banks and sponsors. During a panel discussion on affordability concerns, Bank of Valletta CEO Mr Kenneth Far- rugia stressed the importance to incentivise the development of sustainable properties, with a particular focus on the social elements of ESG that comple- ment environmental incentives and good governance principles. "Bank of Valletta is experiencing an increase in the demand for sus- tainable properties, covering both commercial and residential devel- opments. Within this context, the Bank has introduced attractive green financing solutions, such as the Business Energy Loan. Such incentives will certainly make ac- cess to finance more attractive and affordable." Mr Farrugia also mentioned that, given the importance that prospective homeowners give to flexibility and accessibility in the home loan process, Bank of Val- letta introduced a digital home loan application portal that offers a better experience for those cus- tomers wishing to apply for their loans online. With regards to property affordability and current inflationary concerns, Mr Farru- gia said that the Maltese economy has remained somewhat shielded from challenging external fac- tors, with Malta registering an economic growth of 4% and un- employment levels at their lowest ever. "This has enabled Bank of Valletta to keep bank-based inter- est rates stable over this period." During a separate panel discus- sion titled 'The Implications of a New Economic Model', BOV Chairman and leading economist, Dr Gordon Cordina said that there is no need to reinvent the wheel when it comes to revisiting economic models. "It is somewhat a natural process that economic models need to be revisited every so often. What the country is cur- rently experiencing, are growing pains that are part of the growth process as the country continues to evolve." Dr Cordina went on to stress the importance for landowners to act responsibly for the greater com- mon good. "ESG requirements are becoming ever more a reality in today's world and will become even more stringent in the near future. Good governance should be the order of the day and all parties involved in land develop- ment should also be responsible for assessing the impact on other factors such as traffic generation and pollution". Left to right: Dr Gordon Cordina and Kenneth Farrugia, photo by Mark Cassar Addressing workplace bullying: bBrave's awareness campaign during Anti-Bullying Week 2023 BBRAVE, Malta's pioneering anti-bullying NGO, unveils its groundbreaking Awareness Cam- paign on Bullying and Ostracism in the Workplace. Built upon their comprehensive 2023 Research Study on Workplace Bullying and Ostracism in Malta, this cam- paign aims to raise awareness of workplace bullying and highlight the necessity of addressing the is- sue head-on. Another key aim of the cam- paign is to prevent myths and stereotypes surrounding the issue of bullying from creeping into the narrative. bBrave is on a mission to ignite awareness, provide the pub- lic with information and promote support mechanisms for those af- fected. It's not just about identifying the problem: it's about empowering individuals to effect change. On the basis of its 2023 study, bBrave has compiled a toolkit including a template policy on bullying and os- tracism at work. bBrave also used the findings of the study to deliver workshops on the topic. bBrave would like to invite the public to help by spreading the word. Any queries may be sent to Dr. Aaron Zammit Apap on secgen@ bbrave.org.mt or at +356 9944 8633.