As Malta's leading Banking Group, Bank of Valletta recognises that sustainability requires an industry-wide collaboration and response. This was stated by Kenneth Farrugia, Chief Retail Banking Officer at Bank of Valletta during and ESG conference organised by the Malta Institute of Accountants driven by the theme 'A new mindset – Reduce, Reuse, Report' conference.

In his intervention, Mr Farrugia stated that 'BOV is undoubtedly an important sustainability enabler as a result of the Bank's market position within the Maltese economy. The Bank's ESG (Environmental and Social Governance) approach will be driven by the formulation and development of the sustainability policies to include amongst others current and new investment and credit products, as well as their pricing and distribution policy. These will all be aligned to reflect the Bank's sustainable development goals.'

'The ESG disclosure and reporting landscape has evolved at a tremendous pace, bringing about a comprehensive yet challenging reporting framework. to reflect climate and environmental financial risk management as well as sustainability-related disclosures' concluded Mr Farrugia. 'Data and supporting information are critical in the process as these will enable us to disclose how the Bank is meeting its key performance indicators on social and environmental related matters.

Further to these commitment, Bank of Valletta has recently inaugurated its new concept branch in Sliema, using all-natural materials from renewable sources and reduced energy consumption and is already upgrading other branches in the largest network in Malta to this new concept.

Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130.  Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta).

Originally published by Bank of Valletta

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.