The CSRD entered into force at the start of this year, and this has been increasing pressure on businesses to start understanding the sustainability reporting requirements that will be necessary. Reporting can have extensive benefits to businesses, but it’s well known that the initial stages tend to be difficult and expensive steps.
It’s with these thoughts that we welcome the news of the newly launched fund by Malta Enterprise, which will be assisting the companied in its sustainability reporting journey. The aim of the fund is to encourage companies to produce an ESG report and partially cover the costs incurred through the consultants.
The businesses may cover the following:
€3,000 in relation to the first ESG Report, capped at a total of 75% of the costs incurred. Thus, if the total consultancy bill is less than €4,000, the total amount recovered would be less than €3k.
€1,000 yearly for the following two years when submitting a report each year, which will be capped at 50% of the consultancy costs.
Typical with funding, a number of constraints come into play, and we are reproducing here below the more relevant ones:
Each company has to get the funding pre-approved prior to starting off the work.
The consultants are to be pre-approved by Malta Enterprise, and the list may vary.
The deadline for the application submission is 31st October 2023
When pondering application submission, we strongly suggest going through the guidelines or reaching out to the relevant authorities.