MCESD Meeting Highlights CSRD and National Skills Strategy

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During the first part of the MCESD meeting, representatives from the Malta Financial Services Authority (MFSA) and Malta Business Registry (MBR) presented the new Corporate Sustainability Reporting Directive (CSRD) and its impact on enterprises and the economy. The CSRD is a critical directive aimed at enhancing company transparency and accountability regarding their sustainability performance, making it a vital topic for discussion at the MCESD. Mr. Ryan Borg from the MFSA detailed the CSRD’s goals, scope, and phased implementation, providing Social Partners with valuable insights into the new sustainability disclosure requirements and their implications for EU businesses.

MCESD members actively engaged in the discussion, sharing comments and recommendations. They focused on the directive’s impact on listed companies and other large entities, requesting clarity on compliance requirements and the directive’s value addition for companies. Employers emphasised the importance of understanding how the directive will affect their operations, while unions advocated for a gradual implementation process to ensure smooth adoption.

During the second part of the meeting, Executive Chairman Jeffrey Pullicino Orlando and Ruth De Brincat from the National Skills Council (NSC) highlighted the Council’s commitment to an evidence-based skills agenda. They announced the launch of the National Skills Strategy in 2025, focusing on digital skills and the green economy for future-proof youngsters.

Social Partners emphasised the need for lifelong learning, supported by government incentives and motivated employees. They highlighted the importance of data interpretation and communication skills for youths and underscored the necessity of skills forecasting, noting the equal importance of skills from MCAST and the University.

“Today’s discussions highlight the importance of aligning our economic strategies with the evolving job market,” said Perit David Xuereb, Chairperson of the MCESD. “The CSRD and the National Skills Strategy are crucial steps towards preparing our workforce for future challenges and driving sustainable growth. The MCESD facilitates essential collaboration between employers, unions, and the government to foster lifelong learning and adaptability.”

Present at the meeting were the Minister for Education, Sport, Youth, Research and Innovation, Hon. Clifton Grima, and the Parliamentary Secretary for Social Dialogue, Hon. Andy Ellul.

  • To access the presentation on The Corporate Sustainability Reporting Directive (CSRD), click here.
  • To access the presentation on Prioritising an Evidence Based Skills Agenda, click here.

 

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