PM says Malta Stock Exchange must facilitate transformation of Maltese economy to ‘climate neutral’

Prime Minister Robert Abela on Wednesday said that the Malta Stock Exchange must facilitate the transformation of the Maltese economy to a climate-neutral one.

He spoke while delivering the opening address at the General Assembly of the World Federation of Exchanges, currently being held in Malta.

“The Malta Stock Exchange needs to continue pushing innovation and creating new solutions so that a pool of domestic savings, which mostly lies in bank deposits, finds its way to firms that want to invest and grow even in Malta,” the Prime Minister said.

Dr Abela stated the government will actively seek to aid this process and provide the right framework for this shift to occur.

Leaders of the largest stock exchanges in the world and representatives of investors, who form part of the world’s economic infrastructure, were present for the Prime Minister’s address, in which he added that the challenge to transform into a climate-neutral economy has the potential to be the biggest economic opportunity for our generation.

“I believe that the finances to make this ambitious transition are there and I also believe that the financial services sector has a key role in both decarbonisation and also in the digitalisation of our country,” Dr Abela said.

The Prime Minister stated that Malta remains committed to fostering economic international cooperation, and outlined how our country has one of the most open economies in the world, with imports and exports exceeding our gross domestic product.

Prime Minister Robert Abela highlighted how Malta has a strong financial services sector, one of the largest maritime flags, a booming aviation services sector and a fast-expanding information technology and gaming industry.

In this context, the he said that the Malta Stock Exchange has played a key role in these developments, having seen great diversification, and it is now listing over hundred local corporate entities.