RSM Malta, a specialist in Environmental, Social, and Governance (ESG) – representing the three central criteria used to assess a company's sustainability and ethical impact –, has forged a distinctive partnership with Bureau Veritas that brings together different disciplines in a collaborative form to make sure that professionals have the necessary knowledge and depth to be able to advise clients on their journey to ensure their business is ESG compliant.

“Our unique differentiator that truly sets us apart from other firms is the partnership with Bureau Veritas, a global company specialising in testing, inspection, and certification services. We advise several clients on ESG matters through a variety of services, helping them measure their status quo using the European Regulatory Landscape as a framework. Then, we help them embark on their journey to become ESG-ready by the time the regulatory requirements become active,” George Gregory, Managing Principal of RSM Malta, says.

The ESG Advisory team is currently led by Director Fabianne Ruggier.

“Apart from having extensive knowledge on the subject, Fabianne is also a great leader within RSM Malta and is using her expertise to continue growing the skill set of our Advisory team to be able to cater to the changing demands in regulations for business in Europe,” Mr Gregory explains.

The company takes a multi-faceted approach when it comes to advising clients. This includes having conversations with company boards and business leaders to support them in the planning as well as execution of their business journey, always with the objective of being more ESG-ready.

Mr Gregory explains that the process kicks off with a gap assessment, based on which RSM Malta identifies insights and measures to design the most effective action plan for the client and their ESG-related needs or requirements.

“We start off by understanding our client and then preparing a plan that would help them address any potential lacunas in their operations. We propose the introduction or incorporation of the right ESG practices for them, helping them assess costs and opportunities. Then we guide them through digitalisation, the evolution of their business model, re-assessment of their operational models and future plans, as well as their overall dynamics with the stakeholders.”

Of course, collaboration and partnerships are key to addressing complex ESG issues, and the process includes a thorough collaboration with stakeholders, such as NGOs, industry associations and Government bodies. RSM Malta is in fact contributing to different working groups that have been set up by the government and that empower it to put its collective expertise to excellent use, with the scope of developing local policies on the matter. This, while working hard to ensure that it has its own ESG practices in place, leading by example.

“We are proud of the Memorandum of Understanding signed this year with the Malta Chamber of Engineers. It is another way through which RSM Malta aims to share its expertise on ESG, specifically through the provision of training and awareness on the subject matter, including technical expertise. Several partners within the firm are also very active on several boards like those established by the Malta Institute of Accountants, with the aim of discussing the future frameworks for bringing the ESG regulatory framework to life,” Mr Gregory iterates.

The firm also places a lot of effort into sponsorships of NGOs, both through monetary and in-kind contributions, with the aim of offering support to future entrepreneurs. In addition, RSM Malta has set up a programme for ‘investing’ in start-ups showcasing the importance it gives to the future of the country’s economy.

“We insist on being prime supporters of the business community in Malta, with particular focus on fostering the businesses of the future,” Mr Gregory says.

Innovation plays a crucial role in advancing sustainable practices for the future. And, while there are established ESG frameworks to follow, RSM Malta prides itself on offering innovative solutions, rather than a one-size-fits-all approach.

“RSM Malta’s ESG experts start off by sitting down with a client and assessing their challenges, disruptions, and pressures from a macro perspective. We then identify ways through which the business can maximise the opportunities presented and minimise the threats. This is done through re-organising, changing processes, re-energising, diversifying, and identifying new projects and initiatives that can evolve the business model,” he says, adding that the firm’s main task is to bring a challenging perspective to the status quo in a trusted environment.

“This leads us to conduct future-oriented workshops that support the client in small experiments to test the probability of success of the various initiatives,” he continues. “As part of the RSM International Network, we have access to an international network of partner firms that work with the same mission, values, and grit. An ESG working group has in fact been set up within the international network that allows experts from all around the globe to develop their knowledge together and share related tools and best practices.”

Most of all, RSM Malta prides itself on leading by example, integrating ESG principles into its own operations and corporate culture. When it comes to the environmental aspect, the firm is heavily invested in alleviating the impact of its operations on Malta’s environment.

“Our offices in Żebbuġ currently sport LED lights that are operated via an intelligent lighting system with lux level controls, light sensors, and segmentation, VRF air conditioning and air tempering systems, cross-system integration, and other practices such as paper-less operations,” Mr Gregory says.

From a social perspective, the firm provides a workplace that is flexible with the opportunity to work remotely to reach the proper balance between work and life.

“We also ensure that there are opportunities for everyone, eliminating all discriminatory biases and truly awarding people for their capabilities and strengths rather than gender, race, or religion. Additionally, we have several committees in charge of ensuring that the social contribution element is kept alive, including the innovation committee and the CSR committee that are led by staff members and supported by our partners.”

When it comes to the governance element, partners are involved on several boards and working committees with the scope of directly influencing policy in relation to ESG. Internally, the firm has its own boards and operational committees, as well as policies to ensure that processes remain client-driven, transparent, and agile.

Looking ahead, RSM Malta aims to continue contributing to the policy agenda, whether it is being developed by the public or private sector.

“We want to continue increasing awareness and providing education alongside business leaders whether its via training or best-practice sharing. We also aim to keep developing and strengthening our service offerings and advancing our strategies to provide the highest value for our clients, while establishing ourselves as an employer of choice that offers truly equitable opportunities,” Mr Gregory concludes.