MGA ‘exploring’ development of a voluntary ESG Code of Good Practice for remote gaming sector

The Malta Gaming Authority (MGA) is exploring the development of a voluntary ESG Code of Good Practice for the remote gaming sector, it announced on Monday.

“As investors, consumers and employees become increasingly aware of the impact that companies have on society and the environment, we have been witnessing growing awareness around Environmental, Social, and Governance (‘ESG’) matters,” the authority said in a statement.

In this spirit, in recent years, the Maltese Government has launched a voluntary ESG reporting platform to encourage companies to publicly report on their ESG performance, thus driving investment towards sustainable businesses.

“While the Authority is proud of the consistent progress of the gaming sector and acknowledges the good work done by its licensees, some of which currently report on ESG publicly, starting from 2024, all large or listed companies will be required to report under the Corporate Sustainability Reporting Directive (‘CSRD’).

“In this context, in an effort to remain at the forefront of innovation and forward-looking practices, the MGA embarked on a journey to develop a voluntary code of good practice for the remote gaming sector to help guide and prepare local licensees for ESG legislation, and to potentially derive the benefits tied to running a sustainably conscious operation.”

The code will set out the common priorities for ESG in gaming, taking into consideration the needs of key stakeholders, to reduce environmental, social and governance impacts whilst continually enhancing Malta’s reputation as a leading Gaming jurisdiction.

“Looking ahead, we expect to see more and more companies taking concrete actions towards becoming more sustainable, and we believe that reporting such efforts contributes positively to implementing change within the sector and improving its overall perception, while also addressing the increasing demand for transparency and ability in the industry.”

As part of this initiative, the MGA has launched a survey with its licensees who are the key partners in the process of transforming the gaming sector into a more sustainable and transparent one.

Kindly reach out to the Authority at [email protected] for any queries.