Government initiative helps businesses cut 1,000 tonnes of CO2 emissions every year
Maltese businesses investing in sustainable technologies and operations with the support of Malta Enterprise’s Smart and Sustainable Investment Grant will be reducing their annual carbon footprint by 1,000 tonnes, an Energy Ministry statement said on Friday.
This reduction in carbon dioxide emissions is equivalent to the emissions of around 217 cars every year.
Minister for the Environment, Energy, and Enterprise, Miriam Dalli, announced the results of this green initiative during a visit to the db Seabank Hotel. This hotel is one of several enterprises that benefitted from this scheme to invest in a more efficient seawater reverse osmosis system, increasing energy efficiency by 22%, reducing water consumption by 78% and decreasing carbon emissions by 10 tonnes. It has also invested in a heat pump water heating system.
Minister Dalli explained that through the Smart and Sustainable Grant, Malta Enterprise has already supported 16 green projects by the private sector, with no intention of slowing down, as more businesses choose to follow the green transition.
The Smart and Sustainable Investment Grant, which will continue to be available throughout 2024, has already invested €1 million in local enterprises. The scheme’s aim is to offer financial assistance to businesses as they undergo the transformation towards more sustainable business operations.
“This Government is committed to continue supporting enterprises to improve the sustainability and efficiency of their operations. By encouraging and supporting enterprises towards this green transition, we are helping businesses secure their future viability, while contributing to our vision of a more sustainable and decarbonised economy in Malta. Energy efficiency, waste reduction, sustainable operations and cleaner air are crucial factors for serious businesses committed to ensure the future of their operations while safeguarding their communities”, Miriam Dalli said.
The Minister also referred to the COP28 conclusions, where a landmark agreement was reached by countries to start transitioning away from fossil fuels. She emphasised the importance of this commitment and encouraged more enterprises to invest in sustainable operations. She reassured that the Government will continue to provide support to achieve this objective. In fact, in 2024, it is doubling Malta Enterprise’s budget for schemes and other initiatives to help businesses improve their efficiency, quality, competitiveness and sustainability.
Malta Enterprise Chief Executive Officer, Kurt Farrugia, explained that Malta Enterprise has always been there to help businesses in every way possible.
“In our constant talks with businesses, we have seen that reaching sustainability targets has been a growing concern for our businesses, and we want to be here to help. We want our businesses to be at the forefront of sustainability and innovative practices. We are very happy to be announcing this reduction in CO2 emissions and will continue to make sure that our businesses are at the forefront when it comes to the green transition”, explained Kurt Farrugia.