Issue link: https://maltatoday.uberflip.com/i/1544097
7 maltatoday | SUNDAY • 29 MARCH 2026 COMMERCIAL Alkagesta secures multi-year biofuel storage agreement in Antwerp, Belgium ALKAGESTA has signed a multi year lease agreement for biofuel storage at the Pantank facilities in Antwerp, Belgium as reported in Biofuels Inter- national. The additional capac- ity is intended to support the movement of feedstocks and biodiesel into the European market. Industry sources such as Bi- oenergy International cited in the report noted that the new tanks may enable the company to expand its biofuel sourcing activities and improve access for smaller suppliers to inland European markets. The devel- opment is expected to add flex- ibility and liquidity to a sector that has been affected by vola- tility in global fuel markets. While geopolitical tensions have contributed to fluctuations in crude and refined product prices, the biofuels market has remained comparatively stable. Analysts attribute this to diver- sified feedstock supply chains and the influence of Europe- an blending mandates. Market participants have observed that recent disruptions have been more pronounced in logistics and feedstock spreads than in underlying demand, increasing the importance of storage and adaptable supply chains. Alkagesta operates close to 700,000 cubic metres of stor- age capacity across Europe and Asia, with a significant concen- tration of assets in the Medi- terranean region. The Antwerp facilities will allow for vessels, truck, and container handling of biofuel products. Industry sources such as to Argus Me- dia noted that the company's biofuels desk trades used cook- ing oil, food waste derived oils, soapstock acid oils, and bio- diesel. Alkagesta has been ac- tive in terminal operations for nearly a decade, with a focus on operational efficiency and risk management. A company representative stated that the additional capacity in Antwerp is expected to help connect smaller producers with Europe- an biodiesel markets and sup- port compliance with regional sustainability and blending re- quirements. THE traditional workplace of five years ago has gone. What we experienced during the COVID pandemic has trans- formed and reshaped how organisations approach to- day's work environment. Hy- brid work, digitalisation, AI and heightened regulatory expectations, now define the modern workforce. All these changes have forced many or- ganisations to rethink their entire structures and process- es, including who gets to be involved and how leaders make decisions. Human Resources (HR) is more than ever at the heart of organisational resilience in today's rapidly changing work environment and is no longer confined to traditional peo- ple and policy management. It now plays an important role in shaping organisational cul- ture and influencing workplace behaviours. In response to AI, skills shortages, and ongoing business transformation, or- ganisations are increasingly ex- pected to shape their strategy, with HR leading this transfor- mation. We have also seen in recent years that HR is expand- ing its role from people sup- port to a control function, with regulators increasingly linking organisational culture, leader- ship conduct and psychological safety to governance and or- ganisational risk. We should not view flexibility merely as a desirable perk. For knowledge workers in particu- lar, hybrid working arrange- ments have become dominant. We have seen that this shift grants employees a greater au- tonomy over when and where they work, fostering a sense of ownership and responsibility in their roles. Organisations also benefit from this approach by tapping into more diverse and larger talent pools. Moreover, hybrid work models support improved work-life integra- tion that enables individuals to balance their professional and personal commitments more effectively. Yet, this transition also brings challenges for organisations, primarily to maintain produc- tivity in the absence of what is commonly referred to as tradi- tional surveillance methods, as well as to protect culture and to avoid inequalities between roles that can be performed re- motely and those that require on-site presence. Considering these issues, today's HR must intentionally design hybrid work models that involve set- ting clear expectations and ensure that managers are prop- erly equipped to lead with an attention on the outcome. Another challenge relates to diversity and inclusion. Many organisations still struggle to translate diversity into inclu- sive employee experiences. According to the EY European DEI Index for 2024, only 7% of European organisations are genuinely building an inclusive culture, despite widespread diversity commitments. More- over, 30% of employees across Europe reported experienc- ing discrimination or bullying, and nearly half did not feel safe reporting it. This shows a clear gap between policy and real-life experience. Thus, it is evident that organisations need to embark on a systemic HR process change. This in- cludes leadership that listens and adapts, and that offers psy- chologically safe environments where people contribute freely. At Bank of Valletta, inclusion is one of its core values. This is actively demonstrated through the work of the Diversity, Equi- ty & Inclusion (DEI) Commit- tee, established in 2022, and its sub-committees. Together, they work to create a work- place culture where everyone feels valued, respected and supported. Reports quoting Eurostat data suggest that the proportion of women in managerial positions in Malta rose by approximate- ly 10.1% between 2014 and 2024. Despite this progress, the leadership gender gap re- mains wide, with only about 36% of managerial positions in Malta held by women. There are many barriers that women face, including unconscious bias, which can influence deci- sion-making and the dynamics at the workplace. Other ob- stacles include limited visibil- ity within an organisation and unequal access to career-accel- erating opportunities. To ad- dress this, organisations need to redesign leadership path- ways. This involves embedding a transparent promotion pro- cess, pay equity, flexible career options, and structured spon- sorship, moving beyond men- torship. Organisations are at a de- cisive moment. It is time for them to shift from intention to implementation across flex- ibility, inclusion and leadership practices. It is time to reevalu- ate the definition of success that should move away from time-based measures and fo- cus more on outcomes, impact, collaboration, and agility. Career development should be more flexible, with its paths reflecting different life stages and working preferences. In this context, it is crucial for organisations to build cultures centred on trust, a sense of be- longing and continuous learn- ing. Decisions taken today will influence and possibly shape future organisational perfor- mance. They also impact the well-being of employees, their aspirations, as well as opportu- nities. Elaine Fenech is Head of Per- formance and Compensation at Bank of Valletta. She con- tributed her insights on the challenges in HR as a keynote speaker at the Governance, Risk, Compliance and ESG Conference People & culture challenges in a changing workplace