MGA Introduces Voluntary ESG Code of Good Practice

Overview of the ESG Code

The Malta Gaming Authority’s newly introduced ESG Code of Good Practice stands as a significant instrument for self-regulation within the remote gaming sector. It is meticulously designed to guide companies in aligning with the best practices in sustainability and stakeholder engagement.

This initiative, although voluntary for MGA online casinos, is strongly recommended by the MGA for all its licensees. The Authority emphasizes the Code’s critical role in bolstering the industry’s standing in environmental, social, and governance aspects, thereby promoting a more sustainable and responsible gaming industry​.

MGA CEO Carl Brincat highlighted the increasing trend across industries towards greater transparency, disclosure, accountability, and proactive engagement in addressing key social and environmental challenges. This reflects a broader movement in the corporate world, acknowledging the importance of these aspects in modern business practices.

Economy Minister Silvio Schembri further emphasized the significance of the ESG tool in reshaping the business and investment landscape. Minister Schembri specifically noted its crucial role in the remote gaming sector, a field where such initiatives can have a transformative impact​.

A Multi-faceted Process

The development of the MGA’s ESG Code was a comprehensive and multi-faceted process. It involved a series of extensive stages such as peer review, materiality assessment, in-depth stakeholder interviews, and consultations with licensees. This thorough approach ensured that the final Code is both well-informed and reflective of the industry’s priorities and expectations in environmental, social, and governance issues.
Key features of the ESG Code include:

• Identification of 19 ESG Topics: These are organized into three primary categories – Environmental, Social, and Governance.
• Two Tiers of Reporting: The Code introduces a dual-tier reporting system:
  • Tier 1: This level represents a basic standard in ESG compliance.
  • Tier 2: This is a more aspirational level, indicating advanced ESG commitment and practices​

Impact and Future Prospects

The introduction of the ESG Code of Good Practice by the Malta Gaming Authority marks a pivotal milestone in enhancing the sustainability and responsibility of Malta’s remote gaming industry. This initiative is a significant step forward, demonstrating the industry’s commitment to adopting more sustainable and ethically responsible practices.

Additionally, the MGA has published a comprehensive Consultation Feedback Document. This document provides detailed insights into the feedback received from licensees during the development of the ESG framework, illustrating the collaborative effort and the collective industry perspective that shaped the final structure of the Code.

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