Malta’s latest national budget has an entire chapter dedicated to the ‘greenification’ of our economy with a focus on developing a low carbon strategy and incentivising investors to fund green projects.
Malta has lofty ambitions to achieve carbon neutrality by 2050, as outlined in the Paris Climate Change agreement which Malta signed in 2016.
Malta’s plan is being developed in a Low Carbon Development Strategy, which will recommend measures to turn to cleaner energy as well as recommend greener transport, higher standards of energy use for industries and households as well as more holistic management of our waste.
Green bonds will also be introduced to incentivise investors to fund green projects that would help us be a post-carbon economy.
This means that as of next year, Malta’s stock exchange will introduce packages to lure investors to invest in green bonds. These bonds act as a fixed income instrument which investors can use to finance projects that promote clean energy and reduce air pollution.
Carbon neutrality, which also referred to as having a net-zero carbon footprint, is achieved by balancing carbon dioxide emissions by off-setting or eliminating carbon dioxide emissions altogether.
The production of carbon dioxide is associated with transportation, energy production, agriculture and industry – all vital components to keep the economy moving.
It can be achieved through carbon-offsetting, the process of removing the gas from the atmosphere to make up for emissions elsewhere. Alternatively, changing sources of energy from fossil-fuel burning to renewable ones like hydro, wind or solar power.
You can read more on Malta’s green measures in the 2021 budget here.
What do you think of these green measures?