The green economy has been occupying an ever-growing position in international policy fora and politics. Prior to COVID-19, the world had been slowly awakening from its environmental complacency. In Malta, the need for a greener economy was started to be felt especially since questions were being raised on the sustainability of our economic model.
The pandemic has brought these questions to the fore even more. With global governments, including the European Union, directing heavy spending to shore up the global economy, it is now time to ensure that our spending reflects our long-term priorities. One such priority needs to definitely be to start the transition to a green economy, one whereby the environment becomes an active contributor to the economy and not just a passive resource-rich actor.
It is, therefore, going to be critical for us to start directing spending and resources towards activities that contribute to a greener and more sustainable society and economy, including initiatives that allow us to become more of a circular economy.
Unfortunately, many a time, some of these initiatives are seen as abstract or far-fetched. However, the launch of the bottle return scheme is a tangible case in point of the potential of the green economy.
It was announced that, within the next 14 months, Malta will have 350 reverse vending machines and a refund mechanism in place. Environment Minister Aaron Farrugia announced that it is planned that 85 per cent of plastic bottles in Malta will be recycled, supporting the country’s national targets. In addition, the scheme will result in an investment of over €15 million and the creation of 60 new jobs. This is precisely the green economy in action: private investment supporting environmental targets while generating employment.
Over the past few months we have seen various other initiatives in the green economy, including the launch of the eco-hive project in Magħtab that will set new standards of waste management, the largest privately-owned solar farm being unveiled and a local company launching electric scooters as a mobility solution in the cities. We need more of these initiatives across different sectors to truly embrace a greener future.
There are various sectors that are ripe for a green transformation. The agricultural sector is one that requires a dedicated focus. The National Agricultural Policy for Malta that was launched in 2018 provides a clear roadmap for the sector and it is important that the measures being recommended are implemented.
Mobility and transportation are also craving for a greener transition. The push towards public transport and electrical vehicles needs to be sustained. The renewable energy sector needs to be supported further and one hopes that additional schemes for the development of solar farms are launched.
The construction and real estate sectors should also be the focus of ensuring that our new buildings are sustainable. Our contractors and developers should transition to greener building methods and materials while our new buildings should be smarter in the way they consume energy.
Recycling is also another area of interest, given Malta’s waste challenges and, therefore, it would be good to see additional initiatives similar to the bottle scheme launched earlier this week that target other waste sources such as tyres, detergent bottles and glass.
Turning construction waste into other materials is also something we urgently need as a country. The investment in green infrastructure including green walls, roofs and green lungs in our localities will go a long way towards greening our economy. Malta needs to start positioning itself even more as a testing hub for smart, green technologies across a number of sectors, making Gozo an ideal location for such initiatives.
Public spending needs to reflect our long-term values and priorities. The green economy is one of them. As Malta embarks on a new EU funding programme and now also through the Recovery and Resilience Fund, which is especially designed to focus on the green economy, we need to ensure that the transition to a green economy is a national priority.
The EU Green Deal is also another opportunity for us to support and direct public and private investment.
The green economy might at times sound abstract, however, as we have seen, we are already taking tangible steps towards this. As we approach the national budget, it is important for the government to direct investment towards more of these initiatives. We need to green the economy, tangibly.
JP Fabri is a co-founding partner at Seed Consultancy