The Malta Gaming Authority is considering implementing a voluntary code for ESG best practices for local licensees.
This announcement comes at a time when awareness of the social and environmental impacts of large corporations is steadily rising. In the past few years, the Maltese government has set up its own voluntary environmental, social, and governance impact reporting platform, which has recently been followed up with the decision to mandate such reports for all publicly listed and larger privately held companies starting in 2024.
The gambling regulator’s main aim with their own voluntary ESG guidelines is to help local companies get familiar with the upcoming reporting mandate before its officially active. This will help participating firms prepare for the legislation and will potentially bring with it all the benefits of a sustainable business operation.
The MGA has not announced any timelines for its ESG code, although as part of this initiative, it has sent a survey to its local licensees who will play a large part in enhancing the industry in terms of transparency and sustainability. However, the regulator’s announcement did not go into any further detail on the survey.
