The Malta Financial Services Authority (MFSA) has successfully concluded its participation in an EU-backed initiative aimed at enhancing supervisory capacity in sustainable finance.
The project, funded by the European Union’s Technical Support Instrument (TSI), culminated in a closing event held in Zagreb, Croatia, in September, hosted by the Croatian Financial Services Supervisory Authority (HANFA). This 20-month initiative, which also involved regulatory authorities from Croatia, Poland, and Romania, focused on improving the oversight of sustainability-related disclosures and reporting. It was executed in collaboration with the European Commission’s Directorate General for Structural Reform Support (DG REFORM).
Throughout the project, the MFSA significantly enhanced its technical expertise in sustainability supervision. Regulatory authorities, market practitioners, and experts from participating countries exchanged insights, fostering a network that has contributed to greater regulatory alignment across borders.
Key outcomes for the MFSA included the development of new supervisory tools and materials, strengthening its ability to monitor sustainability disclosures. The project also integrated sustainability requirements into the MFSA’s broader supervisory processes. As part of the initiative, the MFSA organized several workshops targeting different sectors of the financial industry.
These events included discussions on best practices, guidance for listed entities transitioning from the Non-Financial Reporting Directive (NFRD) to the Corporate Sustainability Reporting Directive (CSRD), and sessions on the Sustainable Finance Disclosure Regulation (SFDR) for asset management and insurance professionals.
Clare Farrugia, MFSA’s Head of Strategy, Policy, and Innovation, emphasized the authority’s dedication to sustainability goals, stating, “The insights and tools gained through this project will enable us to evolve our regulatory frameworks, ensuring our industry is prepared for the future of sustainable finance.”
The MFSA reaffirmed its commitment to driving transparency and accountability in sustainability reporting across Malta’s financial services sector, in line with EU regulations. The authority will continue to collaborate with both local and international stakeholders to enhance sustainable finance supervision.
Newsroom
Leave a Reply