Malta Gaming Authority introduces ESG center for licensees

As part of its initiative, the MGA has introduced a dedicated section on ESG issues, which will become a central point of access to reporting information for online gaming companies. The new section aims to help licensees meet high sustainability standards by providing details of the voluntary ESG Code of Good Practice.

This Code is designed to support companies in their efforts to comply with best practice and stakeholder expectations. It is an industry framework aimed at improving transparency and encouraging ESG reporting. The Code also helps companies benchmark and continually improve their ESG practices.

The ESG Code of Good Practice covers 19 key topics in three main categories: environmental, social and governance. Developed through peer review, research and stakeholder consultation, the Code provides a structured approach to reporting and improving ESG practices for companies.

The Code includes two levels of reporting:

- Level 1: Core ESG standards that ensure compliance with minimum requirements.

- Level 2: More advanced goals and practices aimed at significantly improving ESG results.

Organizations that successfully meet the Code's requirements will be able to receive the MGA's ESG Code Approval Seal, demonstrating their commitment to sustainable development.

The launch of the new ESG Center is part of the MGA's wider initiative to strengthen regulation and raise standards in the gambling industry. The MGA has already taken a number of significant steps in early 2024, including canceling Tipbet's authorization, approving a recognition notice for St8.io, allowing the company to operate in MGA regulated markets, canceling Super7plus's authorization and suspending Rush Gaming's authorization.

These actions underscore MGA's commitment to creating a more transparent and responsible gaming market by promoting sustainable practices and improved corporate reporting among licensees.

The establishment of the ESG Hub and the implementation of the ESG Code of Good Practice demonstrates the Malta Gaming Authority's commitment to supporting sustainable development in the online gambling industry. These measures aim to increase transparency, encourage responsible behavior and improve company accountability, which will ultimately lead to higher levels of trust and efficiency in the gambling industry.