Energy and Enterprise Ministry announced an initiative so that more local companies are attractive to local and foreign investment by collecting on a specific electronic site information on what companies are doing in the environmental, social and management sectors.
Minister Miriam Dalli said that the initiative is in response to a request by investitors to be aware of what companies in these sectors are doing to guarantee a sustainable operation.
The Environmental, Social, Governance Scoreboard is a sustainable operation that also foresees that a company is not damaging the environment and gives something back to the community where it is operating.
“Till today that data is not clearly visible although it is in the annual report. We have therefore to ascetain that we have this ESG scoreboard so that prospective investors will see what companies are doing vis-a-vis these three pillars”, Minister Dalli said.
In environmental issues, the carbon dioxide emissions from the companies operation, the efficient use of energy and water recycling will be calculated, among others. The Minister added that the gender pay gap and a greater balance of the gender in boards will also be taken into account.
An analysis will also be made in the sector of governance and ethics on the way that company boards operate, with Dr Dalli saying that this initiative reaches seven targets as part of the sustainable development, from the social and health element to more equal representation, among others.
The initiative, she added, provides that the regulatory sector requests companies quoted in Europe to publish this type of information, irrespective of their size.