Author: SME Chamber

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The SME Chamber today participated in the online conference jointly organised by the Union for the Mediterranean (UfM) and the Ministry for Foreign and European Affairs and Trade. on the subject of Regional Integration and Value Chain Transition.

SME Chamber CEO emphasised on the need to shift from buzz-words and high level direction into an implementation plan and national and transnational partnerships. Sustainability and being more environmentally friendly is something we all agree with but we need to make sure that this is accessible to all in order to implementable by a large percentage of SMEs.

The Malta Chamber of SMEs participated in a very interesting discussion organised by Fondazzjoni Ideat on Strengthening the National Minimum Wage. SME Chamber CEO Abigail Agius Mamo emphasised that safeguarding our most vulnerable is a common concern on which social partners cooperate regularly and actively together, including the latest initiative by Hon. Andy Ellul of the Low Wage Commission.

Ms Agius Mamo said that the SME Chamber believed in targeted and focused action that understands the reason behind the vulnerability and provides assistance that will really make a difference.

At the same time this work must go hand in hand with increasing productive efficiency and competitiveness.

Sitting with SME Chamber CEO Abigail Agius Mamo on the panel were also Mr Josef Bugeja, Secretary General of the General Workers’ Union GWU, Mr Brendan Zerafa, Consultant with the Parliamentary Secretary Andy Ellul and Anthony Gatt Director at Caritas.

Thanks to Stanley Mifsud for his able moderation and Fondazzjoni IDEAT Chairperson Elaine Degiorgio for organising the activity.

ESG skills refer to the abilities and knowledge required to effectively address environmental, social, and governance (ESG) issues in business and investment decisions. These skills include an understanding of sustainability principles, environmental management, social impact assessment, stakeholder engagement, ethical business practices, and corporate governance.

ESG skills are important because they enable individuals and organizations to make informed decisions that integrate sustainability and social responsibility considerations into business and investment strategies. By possessing ESG skills, individuals can identify and mitigate risks related to climate change, social inequality, human rights abuses, and other ESG issues that can impact financial performance and reputation.

Furthermore, the demand for ESG skills is growing as investors and stakeholders increasingly prioritize sustainability and social responsibility considerations in their decision-making. Employers across various industries are also recognizing the importance of ESG skills and seeking professionals with these competencies to drive sustainable and responsible business practices.

ESG considerations are becoming increasingly important in the European economy, and are expected to play a major role in shaping its future. The European Union (EU) has set ambitious targets to achieve net-zero greenhouse gas emissions by 2050, which will require significant investment in sustainable technologies, infrastructure, and business practices.

ESG considerations are also becoming more integrated into investment decisions in Europe, with sustainable finance becoming a key focus area. The EU has developed a taxonomy that defines sustainable economic activities and aims to provide investors with clarity on which investments are truly sustainable. This taxonomy is expected to drive investment towards sustainable assets and away from environmentally harmful activities.

In addition, ESG considerations are increasingly being incorporated into corporate governance frameworks in Europe. Companies are expected to be transparent about their ESG risks and opportunities, and to engage with stakeholders to address these issues. This will likely lead to more accountability and responsible business practices, which will ultimately benefit the European economy and society as a whole.

Overall, ESG considerations are likely to play a critical role in shaping the future of the European economy, as they will drive sustainable investment and responsible business practices, which are essential for long-term economic growth and social well-being.

On the 9th of May, in celebration of Europe Day, Europe Direct CORE Platform will be organizing a panel discussion during which these themes will be discussed. Ms. Helga Ellul, President of CORE Platform, will open the event. The panel will consist of ESG experts and high profile business leaders and stakeholders, including Mark Bajada, Matthew Caruana, Matthew Spiteri, Gabriella Borda, Morgan Parnis and Joseph Micallef. Martins Zemeitis, European Semester Officer at the European Commission Representation Office in Malta, will close the event. ESG Expert and Europe Direct CORE Platform Manager Dr. Roberta Lepre will facilitate the discussion. The event is being held at Business Labs, Birkirkara. Drinks and finger food will follow. Participants are required to register by not later than the 5th May 2023.

Click here to register for the panel discussion

SME Chamber President Paul Abela attending MCESD – Malta Council for Economic and Social Development and reacting on the subject of Public Procurement.

Mr Abela emphasised on the need to be more transparent and ensure that the process is a healthy one. This includes greater visibility of direct orders.

MCESD was hosted for the first time by one of its social partners the General Workers’ Union. MCESD addressed two priority matters for the country with the help of expert research and analysis (1) the value expected to be extracted for Maltese citizens through Public Procurement and (2) the expected reshaping of National Skills to drive national economic ambitions.

The National Audit Office (NAO)‘s perspective on public procurement in Malta was presented to the social partners by the Auditor General, Mr. Charles Deguara who highlighted the significance of the steps that need to be taken to strengthen good governance in public procurement.  The Auditor General referred to the content of the two most recent NAO reports, titled: An evaluation of performance audits in the public sector: Common Audit Findings 2017–2020 and Report by the Auditor General on the Public Accounts 2021 (Dec 2021). Mr. Deguara’s main recommendations covered transparency, equal treatment, value for money, and control. He also addressed the citizens’ right to know what is being spent in the public sector.  The National Audit Office looks forward to extending the cooperation on many fronts within the MCESD.

The meeting then followed to hear and consider research, analysis and recommendations on Malta’s Public Procurement system. The discussion emphasised the significance of transparent and accountable public procurement in the interest of ethical business and the tax-paying citizens. During the meeting a number of strong and concrete reform recommendations were made, one of which was to strengthen the Department of Contracts with enough knowledgeable staff with skills that span drafting to post-award scrutiny with established KPIs.

The social partners made a number of observations and recommendations on this very important subject, including the significance of transparency, the importance of employees’ rights, and the aspiration that small enterprises should receive greater support and consideration.

The second part of the meeting focused on the actions to be taken to improve National Skills. The social partners were given a presentation by the director of the National Skills Council (NSC), Ms. Ruth Debrincat. During this presentation, the social partners were given information about the mission and vision of this new council to define and support the skills necessary to support Malta’s ambitions.  To achieve this, the social partners requested improved engagement and continuous communication, especially now that the NSC has become an executive council.  T

The Malta Chamber of SMEs held a consultation meeting with the CEO Mr. Jesmond Muscat, Enforcement Officer, Mr. Martin Farrugia, and the Policy and Strategy official, Mr. Antoine Bartolo, from the Building Construction Agency (BCA).

The meeting’s focus was the licensing within the construction industry and how to move toward the goal of starting the licensing process and elevating the quality of workers in the industry, with the ultimate aim of conducting business with higher standards and lower risk.

The Malta Chamber of SMEs will submit a paper including input and observations regarding the subject to the same authorities.

The Malta Chamber of SMEs held a very informative consultation meeting on the upcoming Digital Operational and Resilience ACT (DORA), a regulation which directly applies to Financial Entities such as Credit Institutions and Investment Firms amongst others.

Members operating within this sector are encouraged to get in touch with Malta Chamber of SMEs Head of Policy Mr Andrew Aquilina by email on "> in order to understand better how the SME Chamber can assist them in implementing this Regulation.