Businesses benefit through Smart and Sustainable Investment Grant

As Malta Enterprise extends its Smart and Sustainable Investment Grant for another year, it has announced that it is doubling a scheme in which local businesses investing in projects to become more ecologically sustainable would be receiving up to €140,000 (up to a €100,000 grant, which can be extended by another €40,000 in tax credits) in government support.

The Smart and Sustainable Scheme provides financial assistance to businesses transforming towards more sustainable operations One such business is OLI Vibra Ltd, a subsidiary of the international manufacturer of specialised industrial equipment OLI

Through this scheme, the company invests in more efficient and sustainable machinery that will reduce its processes by more than 40% to cut energy consumption by 60%, reducing 7,500 kilogrammes of carbon dioxide emissions yearly

During a visit to the company, Environment, Energy and Enterprise Miriam Dalli explained that through the revamped Smart and Sustainable Investment Grant, the tax credit element can represent an additional 10% to 20% of the project amount if carried out by an undertaking that has been established for less than three years, if certified by an independent energy audit, or if the project includes investments in Gozo

Minister Miriam Dalli emphasised the need for every economic niche to tackle its environmental challenges and work towards carbon neutrality and long-term sustainability

Speaker on importance of climate emergency at CPA

In the session that tackled climate emergency during the Confeence of the British Isles and Mediterranean region of the CPA, the Speaker of Parliament Anġlu Farrugia referred to the Climate Action Act of July 2015 aimed at amplifying the responsibility of the country to address the effects of climate change

He stated that the Act lists several obligations that Malta has to observe, including the periodic publication of national inventories on the country’s anthropogenic emissions, the regular update of climate policies, the promotion of adequate technologies, sustainable land use management, and the enhancement of research cooperation and education.

He also recalled that, in May 2017, the Government of Malta published the Low Carbon Development Strategy, which outlines the country’s vision of transforming the island into a low-carbon, climate-resilient country by 2050 whilst fostering social and economic development

More importantly, he also referred to the conference on climate change held in Nairobi, Kenya, in 2018 during his tenure as Chairperson of the Small Branches of the CPA, which was instrumental in launching the CPA Climate Change and Small States toolkit

He maintained that the subject of climate emergency must remain a collective mission to tackle and thus remain high on the agenda of the Commonwealth Parliamentary Association