MeDirect Bank’s Head of Regulatory Affairs & Sustainability, Cressida Galea, spoke at the first edition of Sustainability Live Malta. This event brought together stakeholders to discuss how Malta’s business community is adapting to the evolving realities around ESG, especially at a time of global uncertainty around how environmental, social and governance reporting is going to be regulated going forward.

Among other discussions and keynote addresses held throughout the event, Galea shared insights on the challenges and opportunities facing companies when it comes reporting on ESG matters. She highlighted the real challenges for reporting institutions, such as the cost of being compliant with EU regulations and the policy and legal uncertainty created by changing political priorities both within the EU and globally. The interoperability gaps and associated risks in terms of data duplication and overlap across different ESG frameworks were also tackled. However, despite these challenges, there is real value added from sustainability reporting as it makes organisations accountable to their customers and employees, ensuring genuine progress and improved competitiveness.

“What came out clearly from this first edition of Sustainability Live Malta was that we are now in a time of action. Embedding sustainability into core strategy should be seen as the most effective and most profitable business strategy. The future of sustainability reporting lies in moving beyond compliance checklists, and companies that recognise this shift can position themselves for long-term success. Although there may be short-term challenges, embracing ESG reporting as a strategic opportunity can help companies future-proof their operations. It is our collective duty, therefore, to ensure we are fully transparent about what we are doing and work with all stakeholders both within our organisations and the broader community we operate in to deliver tangible results,” said Galea.