Carbon fund will invest in Malta projects for business to offset carbon impact

Carbon credit fund will allow Maltese businesses to offset carbon footprint with investment in green projects in Malta

Energy minister Miriam Dalli
Energy minister Miriam Dalli

Maltese companies seeking to offset their carbon impact will be able to acquire carbon credits thanks to a national fund that will invest in green projects.

The carbon credit fund, announced by energy minister Miriam Dalli in a Budget 2022 round-up of energy measures, said companies that are currently offsetting their carbon footprint with investments in projects abroad, will now be able to pour this money in projects that will benefit Maltese taxpayers.

Dalli also said Malta Enterprise will assist Maltese businesses in 2022 to covert at least 1,000 cars to an electric engine.

Dali said that over 1,200 charging points will be installed across Malta and Gozo over the next three years. “We want to be ahead of the curve in Europe by taking in private investment for this national charging infrastructure. It builds upon the need for our country to become ever more sustainable.”

She said Malta was currently researching the feasibility of a gas pipeline that could be used for the transport of hydrogen.

Dalli said the government has already launched the largest ever package of aid for feed-in tariffs from renewable energy installations at home for electricity and water consumption.

Apart from that, the government intends extending the distribution of new water from treated sewage water, which is used for agricultural purposes, to the north of the island, as well as forge ahead with a new reverse osmosis plant at Gozo’s Ħondoq.