1.     Introduction

Male’ Water and Sewerage Company Limited (MWSC), a State Owned Enterprise (SOE) with total assets of MVR 3.5 billion and operations spanning water production, distribution, wastewater management, power, manufacturing, engineering, and trading activities across the Greater Male' Area (GMA) and outer islands,, seeks to adopt the IFRS S1 – General Requirements for Sustainability related Financial Disclosures and IFRS S2 – Climate related Disclosures.

The Maldives has announced a phased national adoption approach for IFRS S1 and S2, starting in 2026 for major entities, including large SOEs above the regulatory asset threshold. As a qualifying SOE, MWSC aims to ensure full compliance and leadership in sustainability reporting.

This RFP invites qualified consultants to support MWSC in the full implementation of IFRS S1 and S2.

2.     Scope of Service

The selected vendor shall provide the services outlined below for the “Implementation of IFRS S1 & IFRS S2 Sustainability Disclosure Standards”. The scope of work includes, but is not limited to, the following:

2.1   Diagnostic Assessment & Gap Analysis

• Review existing corporate reporting (financial, operational, ESG).
• Identify gaps against IFRS S1 and S2 disclosure requirements.
• Evaluate governance structures, risk assessment processes, and available environmental data.

2.2   Implementation Roadmap

• Develop a MWSC‑specific plan aligned to national implementation stages (2026–2029).
• Integrate transitional reliefs (e.g., climate‑first reporting year, Scope 3 flexibility, etc).
• Map interdependencies with CMDA and PCB ESG guidance where needed.

2.3   Policy, Framework & System Design

• Draft sustainability reporting policies tailored to MWSC's water, wastewater, power, manufacturing, engineering, and trading operations.
• Establish processes for data capture (e.g., desalination emissions, energy intensity, wastewater discharge metrics, climate‑resilience).
• Design templates for governance disclosures, scenario analysis, climate risk mapping, and KPIs.

2.4   Capacity Building

• Conduct training workshops for executives, sustainability focal points, and finance teams.
• Provide training materials, checklists, and disclosure tools.

2.5   Advisory Support

• Assist MWSC to prepare its inaugural IFRS S1/S2‑compliant sustainability report.
• Provide technical guidance on jurisdictional modifications communicated at national policy level (e.g., CMDA/PCB alignment discussions).

3.     Eligibility Criteria & Requirements

Interested and qualified vendors wishing to undertake this project shall meet the following requirements and submit the relevant supporting documents:

• The vendor shall furnish a bid security in the amount of MVR 5,000/-
• Business Registration Certificate at Economic Ministry
• GST Registration Certificate
• Company Business Information Sheet (Economic Ministry), Generated within 1 month from the Bid submission deadline 
• Demonstrated expertise in ISSB Standards (IFRS S1/S2) and its implementation.
• Proven experience supporting SOEs or utilities in ESG/climate reporting.
• Knowledge of Maldives regulatory environment and sustainability KPIs relevant to water utilities, as well as MWSC's other operating segments, including power, manufacturing, engineering, and trading.

• Experience with environmental data, climate scenario modelling, GHG accounting, and risk assessment.

4.     Evaluation Criteria

5.     Registration Process

Interested vendors are required to register for the tender through the link Bidder Registration between 02^nd July 2026 and 07^th July 2026. Further information and a soft copy of the tender documents will be shared with the registered vendors on 08^th July 2026.

6.     Tender Schedule

The proposal shall be submitted in a sealed envelope marked ‘Private and Confidential’ and titled “Invitation for the Expression of Interest for Implementation of IFRS S1 & IFRS S2 Sustainability Disclosure Standards”

And addressed to:

Male’ Water and Sewerage Company Pvt Ltd

Customer Service Building 6^th Floor

Ameenee Magu, Machchangolhi

Male’ 20 – 03

For more information, please contact Contracting Department at (+960) 332-3209, 763-1293, 779-1938.

Tender Department

Male Water & Sewerage Company Pvt. Ltd.