ESG reporting grant scheme for SMEs
As the sustainability reporting landscape evolves, a growing number of organisations are recognising the need to collect and disclose non-financial information, particularly concerning environmental, social and governance (ESG) matters. To address this, Malta Enterprise (ME) in collaboration with the Ministry of Environment, Energy and Enterprise (MEEE) has introduced a new grant scheme to assist SMEs in carrying out their first ESG review to identify and measure ESG parameters within their business.
The scheme thereby supports SMEs, through non-repayable grants, to part-finance costs incurred for engaging external consultants such as PwC to provide support with the identification, compilation and reporting of relevant ESG information. Once accepted by the MEEE, the final ESG report will be listed on the ESG portal published here.
Eligible expenditure
Applicants must meet the definition of an SME having at least five full-time employees and operating from their own premises, leased or rented buildings. The eligible costs shall be limited to the provision of advisory services leading to the first ESG report being submitted to MEEE.
Aid intensity under de minimis
Beneficiaries will be awarded a total of €5,000 over a three year period, split as follows:
A maximum of €3,000 in the form of a reimbursement covering 75% of eligible costs given in year 1, to part finance the first ESG report that is submitted to MEEE and approved for publication on the ESG Portal;
An additional €1,000 supporting 50% of eligible costs given in year 2 to part finance an update of the ESG report to MEEE; and
A further €1,000 supporting 30% of eligible costs given in year 3 to part finance the second update.
Aid under this scheme is subject to de minimis state aid regulation.
Application process
Applicants must first select an approved external service provider such as PwC. The application form can then be completed and submitted through the Malta Enterprise client portal. Malta Enterprise will be accepting applications until 31st October 2023, subject to the availability of funds.
How PwC can assist you
As an approved ESG advisor under this scheme, we can provide you with external consultancy services to facilitate you in the review of your ESG report. This will include support in the identification, compilation and reporting of the relevant non-financial information. Our expert team will collaborate with you to assess your current state, identify material data points, support you in collection of the data, and assist you with the preparation of your ESG report.
