Government to issue ‘green bonds’ to help finance environmentally sustainable projects

Finance Minister Edward Scicluna announced that the Government will be issuing “green bonds” to help finance environmentally sustainable projects.

He revealed a series of measures for the environment in the 2021 Budget, such as a ban on the importation of single-use plastics from next year. The sale of single-use plastics, such as balloons and cotton buds, will be made illegal from 2022, in accordance with an EU directive introduced this year.

The Minister said that Malta will be dedicating increased focus on the green economy, such as by forming a strategy on low carbon development, energy recovery and lower emissions.

The revision of the Strategic Plan for the Environment and Development (SPED) and work on the National Environmental Strategy (NSE) will continue throughout next year.

“A Low Carbon Development Strategy, with a view to reduce emissions, will be finalised by the end of this year, the Minister said.”

The Worldwide Harmonised Light Vehicle Test Procedure (WLTP) will be introduced, for greater accuracy in the course of testing vehicle emissions. Drivers will not face increased registration tax and road licence, while some may even see a reduction.

A Low Carbon Development Strategy, with a view to reduce emissions, will be finalised by the end of this year, the Minister said.

The strategy explores cleaner energy and recommends action on the use of cleaner transport modes and a more environmentally friendly and holistic waste management systems.

An educational campaign on climate change, its consequences, and how everyone can get involved, will be launched.