Malta Financial Services Authority (MFSA) CEO Kenneth Farrugia has emphasised the role that sustainable finance has when it comes to boosting private investments in sustainable projects.
He was speaking during the Sustainable Finance Conference, an event held by the MFSA’s Financial Supervisors Academy (FSA) on Tuesday at Corinthia St George’s Bay, St Julian’s. The conference brought together various scholars, industry leaders and regulatory authorities to delve into critical topics surrounding sustainable finance and the green transition.
Mr Farrugia opened the conference together with British High Commissioner to the Republic of Malta Katherine Ward, who both emphasised the importance of sustainable finance in shaping a greener and more sustainable financial future.
Mr Farrugia highlighted the key role that the financial system has to play in “reorienting private capital to more sustainable investments”.
“Public support will not be enough. We need a strong capital markets union to mobilise the flow of private money to support the green transition,” he said.
“Sustainable finance is a tool to increase private investments in sustainable projects,” he continued.
Mr Farrugia also highlighted the MFSA’s role in providing guidance and support to the industry on sustainability issues.
The conference included keynote speeches with insight from prominent figures in the field. Iñigo Arruga Oleaga, Adviser at DG Legal Services of the European Central Bank (ECB), discussed the ECB’s efforts to enhance transparency and accountability in sustainability, while Project Green CEO Steve Ellul examined the opportunities and challenges of transforming Malta into a “green hub”. Other keynote speakers included Marco Bodellini from University of Luxembourg, David Xuereb from the Malta Council for Economic and Social Development (MCESD), Maria Cauchi Delia from the Malta Institute of Accountants, as well as Lorainne Vella and Sarah Paulis from the MFSA.
Additionally, the event featured engaging panel discussions on Malta’s effort to move towards a green economy and on disclosure and reporting. The panellists shared their insights and recommendations on how Malta can leverage its strengths and address its weaknesses in achieving its green goals.
Christopher P. Buttigieg, Chief Officer Supervision at the MFSA, closed the conference, stating that sustainable finance has an “important role in shaping a better future for all”.
“The MFSA is dedicated to leading the way in advancing sustainable finance in Malta. This conference played a pivotal role in fostering dialogue and collaboration on the path toward a more sustainable financial system, which is aligned with the EU’s ambitious agenda on climate action and environmental protection,” he added.
The FSA’s next event will be the Markets in Crypto-Assets Regulation Conference on 16th November, which will feature 25 industry experts and regulators discussing the latest developments and challenges in the crypto-assets space.
Launched in 2020, the FSA is an initiative of the MFSA that aims to enhance the skills and knowledge of its staff. It also extends its training programmes to other local and international regulators, supervisors, policymakers, academics, and the financial industry.
Featured Image:
MFSA CEO Kenneth Farrugia / MFSA
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