The Malta Gaming Authority (MGA) has launched a first-of-its-kind Environmental, Social, and Governance (ESG) Code of Good Practice intended for the online gambling sector. The new initiative is aimed at helping operators align with best practices and keep up with the evolving expectations of key industry stakeholders, according to Silvio Schembri, the Minister for the Economy, EU Funds and Lands.
New Code Addresses Key ESG Topics
The ESG Code covers 19 topics organized into three categories –Environmental, Social, and Governance. It was developed following a series of stakeholder interviews and consultations with licensed operators, with the document also subject to a peer review and materiality assessment.
While adopting the ESG Code is not mandatory for licensees, the MGA strongly encourages operators to follow the Code to show their commitment to sustainability and help improve Malta’s ESG standards. In return, those conducting ESG reporting under the Code will receive an MGA ESG Code Approval Seal.
MGA Committed to Regulatory Innovation
The groundbreaking initiative was spearheaded by MGA CEO Dr. Carl Brincat who is set to leave his post in January 2024. Dr. Brincat said the launch of the ESG Code represents the MGA’s commitment to regulatory innovation and ensuring a sustainable gaming environment where operators can thrive while the welfare of society is prioritized.
