The Malta Gaming Authority has presented the Environmental, Social, and Governance Code of Good Practice for the online gambling industry.
The main goal of the ESG Code is to establish a self-regulatory framework that allows online gaming establishments to follow the industry’s finest practices and keep a competitive standing that aligns with the fast-moving demands of important stakeholders.
Although adherence to this ESG Code is not mandatory, MGA license holders are motivated to leverage it and more efficiently present their motive for stability and further enhance the ESG reputation in the sector.
Carl Brincat, Chief Executive of MGA mentioned:
We, at MGA, have consistently targeted at guiding the regulatory advancement. Our hard work extends beyond mere supervision of the industry; our team is dedicated to nurturing and cultivating an environment where casino establishments can flourish, all while making sure that the well-being of society is our top priority.
Minister for the Economy, EU Funds and Lands, Silvio Schembri mentioned:
Adopting ESG tools in the online gaming sector, which is reforming the business is crucial. This approach is very important for addressing social and environmental-related problems, risk mitigation, and facilitating successful transformations in businesses. ESG metrics integration is essential in online gaming, and the ESG code will guide companies in self-regulation, ensuring industry best practices and meeting stakeholder needs most effectively.
The ESG Code is the result of an extensive process that is concentrated on four important stages: stakeholder interviews, research and peer review, licensee consultation, and materiality assessment. The outcome of this meticulous approach is a final Code that is knowledgeable and in line with sector demands and ESG standards.