Grant Thornton Malta played a key role in Malta’s green bond debut. It recently served as the Accredited External Reviewer for the WSC’s €25 million Green Bond issuance, ensuring transparency, compliance, and environmental integrity.

Central to this initiative, Grant Thornton Malta joined the inauguration of a net-zero carbon warehouse. The new 2,000 square metre facility not only consolidates €9 million worth of inventory across 920 unique stock-keeping units (SKUs) but is also entirely self-sufficient in energy use. Thanks to a high-performing photovoltaic (PV) system generating 430,000 kWh annually, the facility achieves net zero energy status, meaning it produces as much energy as it consumes.

Grant Thornton Malta played a central role in ensuring the integrity of this green transformation. As George Vella, Partner at Grant Thornton Malta, noted, “The net zero warehouse is a tangible example of how public investment, strategic planning, and sustainability can come together to deliver long-term value.” Through comprehensive reviews and the development of a Green Bond Eligibility Assessment Protocol, Grant Thornton verified that WSC’s use of bond proceeds fully aligns with international and EU green finance standards, including the ICMA Green Bond Principles and the EU Taxonomy Regulation.

Grant Thornton’s work goes beyond compliance. Their assessment provides assurance on the use of proceeds, project selection, fund management, and reporting. A real-time public portal enhances transparency, allowing the public and stakeholders to track where and how the funds are being utilised, thus raising the bar for governance in environmental finance.

Grant Thornton’s accredited review confirms that WSC’s Green Bond-funded projects, including the new warehouse, are eligible and impactful. Recent progress includes re-financing the Ħondoq ir-Rummien Reverse Osmosis Plant, leading to 2 GWh of energy savings and 790 tonnes of CO2 emission reductions in 2024 alone. Additional projects under development include a new wastewater treatment plant, improvements in water network infrastructure, and systems to reduce non-revenue water, all of which are advancing toward key performance targets.

As Malta continues its journey towards carbon neutrality, the collaboration between WSC and Grant Thornton Malta offers a replicable model for other organisations. It shows how strategic planning, expert oversight, and targeted investment can converge to deliver not just sustainable infrastructure, but a sustainable future.

Grant Thornton’s participation reflects its broader commitment to ESG advisory. By supporting Malta’s green bond framework, it contributed not just technical know-how but a forward-thinking vision for how finance can serve environmental goals.

Contact our experts on [email protected] or visit https://www.grantthornton.com.mt/