The ESG Grant Scheme

Supporting sustainable SMEs

Malta Enterprise have launched a new scheme, the ESG Grant Scheme (hereinafter, the ‘Scheme’)

intended to assist small and medium-sized enterprises (hereinafter, ‘SMEs’) in reporting and assessing their impact in terms of the Environment, Social and Corporate Governance framework (hereinafter ‘ESG’).

The ESG framework establishes measurable goals and processes for tracking, managing and reporting on a company's approach to governance, together with its impact on the environment and on different stakeholders.

The Scheme encourages SMEs to undertake their initial ESG reviews which will help them identify and measure key ESG metrics within their operations, by engaging the service of approved ESG advisors. Deloitte Malta is an approved ESG advisor.

Eligible SMEs must meet the following criteria:

i. Employ at least 5 full-time employees;
ii. Operate from own premises, leased or rented buildings; applicants operating from leased or rented buildings must:

• Have been renting or leasing the building for at least 1 year prior to applying under this Scheme; and
• Be covered by a lease or rent agreement of at least 3 years following the application date.

The Scheme supports the preparation of an initial ESG report to be submitted to the Ministry for the Environment, Energy and Enterprise for approval and uploading on an ESG portal. Eligible costs shall be limited to the provision of advisory services by an approved ESG advisor leading to this report. The report is to be completed and submitted within 6 months from the approval of the grant. The grant is equivalent to 75% of the eligible costs, capped at €3,000.

Since an ESG review should not be a one-time exercise, additional support will be provided, to update the ESG reports for two years after the initial submission.

i. For the first update, beneficiaries can receive a grant capped at the lower of €1,000 or 50% of eligible costs incurred for the first ESG report submitted; and
ii. For the second update, beneficiaries can receive a grant capped at the lower of €1,000 or 30% of eligible costs incurred for the first ESG report submitted.

The deadline for the submission of applications is 31 October 2023.

How can we help?

Deloitte Malta is an approved ESG advisor and is able to assist in answering your queries, so please do not hesitate to reach out to us for any further guidance you may require.

In addition, Deloitte Malta is able to assist with the preparation of the required applications and any supporting documentation, as well as document submission and any required follow-ups.