The European Union and its member states must set clear targets and incentives if businesses are to invest in the green transition, Roberta Metsola believes.

Speaking during a visit to Malta’s largest pharmaceutical company, Metsola argued that the European Green Deal is as much about security and ensuring competitiveness as it is about sustainability.

“If we invest in the know-how, technology and foster development of skills necessary for the twin transition, we will gain the competitive edge,” she said.

Metsola was in Malta on an official state visit as European Parliament president.

During that visit, she met with staff and management of Teva Pharmaceuticals at the Bulebel Industrial Estate. With 514 employees, Teva is the largest company in Malta’s pharmaceutical sector.

The company manufactures around 3,600 products worldwide, with people in around 60 countries using those products, which include generic pharmaceuticals.

Metsola said that the EU’s single market was one of its greatest advantages.

“We should build on it without fragmenting it. We do not need to fence ourselves in. Our economy has grown over the years precisely because we stood for the opposite.” she added.

The European Green Deal, approved in 2020, is a series of policy initiatives introduced by the EU to make the 27-member bloc climate-neutral by 2050.

It has been praised as ambitious by some and criticised as being overly rigid by others.

Metsola is on record saying that parts of the deal may not take into consideration the social and economic impacts they will have. Following EU-wide protests by farmers, she said that more must be done to “ease the transition” and ensure nobody is left behind by the changes.