Last updated: August 14, 2024
An ESG hub has been established by the Malta Gaming Authority (MGA) to give licensees comprehensive guidance on ESG reporting. This new resource includes the Authority’s voluntary ESG Code of Good Practice, which features 19 ESG topics and two reporting tiers. The hub aims to help gaming companies adopt sustainable practices and improve transparency.
A new environmental, social, and governance (ESG) hub has been introduced by the Malta Gaming Authority (MGA) on its website to give licensees comprehensive information on ESG reporting.
All of the information about the Authority’s voluntary ESG Code of Good Practice is centralized in this new resource. The goal of the initiative is to assist online gaming companies in meeting stakeholder expectations and aligning with best practices.
The ESG hub’s objective is to help online gaming companies adopt sustainable practices. The ESG Code of Good Practice is a framework designed specifically for the industry with the goals of improving openness, promoting ESG reporting, and making it easier for businesses to benchmark.
It seeks to support ongoing industry initiatives and provides remote gaming companies with a resource to evaluate, document, and enhance their ESG practices regularly.
The Code, which covers 19 ESG topics in environmental, social, and governance categories, was developed through a process that included stakeholder interviews, research, materiality assessments, peer review, and licensee consultations.
Online gaming companies are allegedly given a roadmap by which to organize their reporting processes. The Code has two reporting tiers: Tier 1 for fundamental ESG standards and Tier 2 for more ambitious objectives.
A broad spectrum of companies are meant to be able to access the Code. Entities that report by the Code will receive the MGA ESG Code Approval Seal. The MGA took several regulatory actions earlier this year, which led to the launch of the ESG hub.
These include the recent revocation of Super7plus’s authorization and the suspension of Rush Gaming’s authorization, as well as the cancellation of Tipbet’s operating authorization and the granting of a recognition notice to St8.io, permitting it to operate in MGA-regulated markets.
