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maltatoday | SUNDAY • 9 JUNE 2024 4 OPINION Leading and managing the digital and green transitions MANY a times when we discuss the green and digital transitions we focus on where we want to be, the vision and strategy. These kinds of arguments are important but in some way, they have also reached saturation point. The EU is clear with its published policies. Time has come to start discussing the process of getting there – how to reach the desired state. To lead and manage the digital and green transitions policy makers need to focus on the elements and practic- es involved in change management. Ultimately, a transition involves all the concepts of change. Change man- agement at a macroeconomic level in- volves strategic planning, coordination, and implementation of policies to steer a country's economy towards desired goals such as growth, stability, and eq- uitable distribution of resources. This process is complex and requires the involvement of various stakeholders, including government agencies, busi- nesses, financial institutions, and the public. It also involves dealing with any resistance to change that might impede reaching the final target. In order to reach our end goals effec- tively, seven pillars need to be present: 1. A clear desired state To do so we need to understand the driving forces behind the shift to green energy and digitalisation. This includes climate change, technological advance- ments, and global economic pressures. This will enable the design of a clear vision and strategy, integrating sus- tainable energy practices and advanced digital technologies. This vision should be aligned with national and global sus- tainability goals. 2. Ensuring stakeholder engagement Government and Policy makers are important to establish policies that support the transition to green energy and digitalisation. This includes regu- latory frameworks, subsidies, and in- centives. Business and industry leaders also need to be engaged to encourage investment in green technologies and digital infrastructure. Public-private partnerships can be vital. In addition, the endorsement of pubic and civil so- ciety is needed and hence policy mak- ers need to constantly communicate the benefits of the transition to the public to garner support and reduce resistance. Education and awareness campaigns are essential. 3. Identify the use of adequate economic instruments These include tax incentives in the form of tax credits or deductions for investments in renewable energy and digital technologies; grants and subsi- dies that offer financial assistance to startups and established companies in- vesting in green and digital solutions; and instruments such as carbon pricing to incentivize reduction in greenhouse gas emissions. 4. A design and implementation plan for the change Implement changes in phases to man- age the transition smoothly. This allows for adjustments based on feedback and changing circumstances. Ideally, we need to start with pilot projects in both green energy and digitalisation to test approaches and demonstrate benefits. 5. Ensure that the necessary infrastructure is in place From a green transition aspect, we need to continue investing in renewa- ble energy infrastructure such as solar, wind, and hydroelectric power plants, whilst ensuring a decentralized energy production. Digital Infrastructure in- volves the development of high-speed internet access, data centres, and cy- bersecurity measures. We need to en- sure digital inclusion for all segments of society. 6. Managing Resistance to Change This can be achieved through edu- cation and training, primarily through skill development and by conducting public awareness campaigns to inform about the benefits of green energy and digitalisation. To manage any potential resistance policy makers need to en- sure that the right support systems are in place including advisory bodies to guide and support businesses and other stakeholders in the transition process. They also need to consult with stake- holders to gather feedback and address concerns promptly. 7. Ensure effective monitoring and evaluation This can be achieved by developing metrics to evaluate the progress of green energy and digitalisation initia- tives. Feedback and performance data should be used to continuously refine and improve policies and implementa- tion strategies. The management of any change pro- cess is complex and multilayered. We need to initiate discussions on such a process to ensure that the desired state in terms of the green and digital tran- sition doesn't remain just a dream, but a reality that our society can benefit from. We need to stop fighting the old, build the new and understand that nothing can be changed until it is addressed. Stephanie Fabri is an economist Stephanie Fabri To lead and manage the digital and green transitions policy makers need to focus on the elements and practices involved in change management. Ultimately, a transition involves all the concepts of change.