Malta Gaming Authority Introduced ESG Portal for Online Gaming Companies

VALETTA, Malta - Aug. 5, 2024 - PRLog -- This initiative follows the publication in November 2023 of "A Voluntary ESG Code of Good Practice for the Remote Gaming Sector in Malta." This ESG Code serves as an industry-specific framework for self-regulation, helping remote gaming companies adhere to best practices and effectively meet the evolving expectations of key stakeholders in the sector. The primary goals are to enhance transparency, encourage ESG assessment and reporting, and facilitate benchmarking among companies to improve their ESG practices.

Key Features of the ESG Code

The ESG Code was developed through a comprehensive process involving peer reviews, research, a materiality assessment, stakeholder interviews, and consultations with licensees. It covers 19 topics across the environmental, social, and governance categories.

Key aspects include:

1. Two Tiers of Reporting:
- Tier 1: Basic ESG standards
- Tier 2: Advanced ESG goals

2. Roadmap for Reporting:
- The Code provides a clear roadmap for online gaming companies to streamline their ESG reporting efforts.

3. Accessibility:
- The Code is designed to be accessible to a wide range of companies. Entities that report under the Code will receive the MGA's ESG Code Approval Seal.

Benefits of the ESG Code

While the ESG Code is voluntary, the MGA strongly encourages its adoption among licensees. Adopting the Code helps companies demonstrate their commitment to sustainability and continuously improve the industry's ESG standing.

ESG Hub as a Central Resource

The newly launched ESG Hub serves as a central point for all information related to the MGA's ESG Code of Good Practice. It supports online gaming companies in their efforts to adopt sustainable practices by providing:

- Guidance and Resources: Comprehensive materials to help companies understand and implement the ESG Code.
- Benchmarking Tools: Tools to compare ESG practices with industry standards.
- Reporting Assistance: Assistance with the streamlined reporting processes outlined in the Code.

Additional Information and Industry Impact

The launch of the ESG Hub and the Voluntary ESG Code is part of the MGA's broader strategy to promote sustainability within the online gaming sector. By fostering a culture of transparency and accountability, the MGA aims to enhance the reputation of Malta as a leading jurisdiction for responsible gaming.

Global Context and Future Trends

As ESG considerations become increasingly important globally, the MGA's initiative positions Malta's remote gaming sector at the forefront of sustainable practices. The focus on ESG aligns with global trends where investors, consumers, and regulators are placing higher importance on sustainable business practices. This move is expected to attract more businesses to Malta, looking to align with best practices and improve their ESG credentials.
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