As time goes by and the disastrous global effects of climate change are becoming more apparent, tougher action and steps are required to prevent reaching a point of no return. One important step has been the adoption of legally binding international agreements and the setting up of the Conference of the Parties (COP).

Also referred to as the United Nations (UN) climate change conferences, these are a series of global summits held annually, responsible for monitoring and reviewing the implementation of the United Nations Framework Convention on Climate Change (UNFCCC), with the last COP (COP26) held in November 2021. Other initiatives, including the Bonn Climate Change Conference (June 2022), track progress on climate change issues and prepare for the next COP27, this year taking place in Egypt in November 2022.

Most countries have implemented climate policies aimed at mitigating and adapting to climate change. Malta is no exception and has been at the forefront of this action. In fact, the Climate Change Performance Index, measuring the country’s performance in relation to greenhouse gas emissions, renewable energy, energy use and climate policy, shows that Malta retains its 12th position in 2022, with a score of 64.18, only 12 points below the highest-performing country Denmark with 76.67.

Malta scores higher than the EU average score of 59.21, a testament to the island’s progress when implementing climate policies to achieve the Paris Agreement goals. At the same time, Malta still faces challenges such as a low recycling rate, recycling only 15.1 per cent of its plastic packaging (EU average of 40.6 per cent) and 45.5 per cent of its paper and cardboard packaging (EU average of 82 per cent) in 2019, according to Eurostat.

Global warming effects have escalated in recent times, made clear by notable devastating events in various parts of the world, from wildfires, to storms and flooding, and melting infrastructure. Pressure groups, citizens and stakeholders have intensified their demands on corporations and governments to take action today, before it is in fact too late for the environment and the only planet we all call home.

COPs drive the setting of goals, bringing countries together, and implementing the necessary actions aimed at combatting the effects of climate change.

During COP26, the main focus areas included: Adaptation; Article 6 (Framework for the voluntary international cooperation for countries to reduce emissions and meet their pledge); Agriculture; Financing Loss and Damage.

This article provides an overview of adaptation with a special focus on Malta.

Like many countries, Malta is at risk of extreme and erratic weather events- Orlanda Grech and Sarah Bulteel

As a small island state, Malta is already highly vulnerable to climate change and its impacts, making adaptation a high priority on our agenda. Compared to larger countries, Malta emits negligible amounts of greenhouse gases, also referred to as greenhouse gas (GHG) emissions, with the average person emitting 5.3 tonnes CO­2­ equivalent per capita in 2019 (Eurostat, 2022), compared to the EU average of 8.2 tonnes CO­2­ equivalent ­(Eurostat, 2022).

Like many countries, Malta is at risk of extreme and erratic weather events, rising sea levels, damage to infrastructure, and changes in land use patterns. With limited natural resources and no readily available fresh water from lakes and rivers, it is necessary to think proactively and put in place adaptation measures geared to ensure the safety of people and habitats on the island. Very recently, a UNESCO report even highlighted the need for Malta to prepare for a tsunami which could occur sometime within the next 30 years.

The Glasgow Climate Pact, to be adopted by the parties to the Convention (the UNFCCC) as one of the key outcomes of the conference, urges for “developed country parties to at least double their collective provision of climate finance for adaptation to developing country parties from 2019 levels by 2025, in the context of achieving a balance between mitigation and adaptation in the provision of scaled-up financial resources”.

In Malta, the National Adaptation Strategy, published in 2012, was followed by the Low Carbon Development Strategy (2021), which highlights several adaptation priorities around water resources; infrastructure and transport; land use and buildings; natural ecosystems; agriculture and fisheries; health and civil protection; and tourism.

Moving forward, COP27 will see a strengthened global agenda leaning towards greater action for adaptation, with the aim of further supporting vulnerable communities subject to the effects of climate change. There will need to be a shared commitment between countries, which means Malta will need to review these adaptation priorities regularly, potentially also placing higher priority on adaptation efforts relative to mitigation.

As echoed in the latest climate change conference in Bonn, “Governments need to urgently act on the stark warnings we have been hearing.” Science-based reports remain crucial in our planet’s fight against climate change. In the meantime, pro-activeness among governments and businesses alike remains vital. Keeping abreast of the thematics and formal negotiations discussed during COP27 will hopefully serve as a catalyst to further action.

While COP is a government-led event, at EY we believe that the scale of the task to address the climate emergency requires business to step up. EY’s key themes are in line with COP27 objectives and translating conference developments into business action – mainly surrounding financing, the role of innovation, and value-led sustainability by Chief Sustainability Officers (CSOs).

Through global experience, expertise and convening power, EY helps build, implement and report on global, enterprise-wide strategies that address the climate emergency. Climate change and sustainability services offered at EY Malta help businesses on their decarbonisation and adaptation journeys.

Climate change and sustainability will be discussed during EY-Parthenon’s Malta Future Realised Conference on October 18 at the Mediterranean Conference Centre. For more information and to register visit: ey.com/en_mt/events/ malta-future-realised-2022.

Orlanda Grech and Sarah Bulteel are members of EY’s Sustainability team at EY Malta. This article forms part of a series of four articles in preparation for COP27.

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