MGA announces first ESG seal recipients
The ESG Code Approval Seals were announced last November at the launch of MGA’s voluntary ESG Code of Good Practice, which invited licensees to submit their ESG disclosure returns.
A year on, some 14 gaming operators have been awarded the ESG Code Approval Seal during the first annual reporting cycle. Those who achieved the standard included Aspire Global and Betway.
The ESG Code, which covers 19 topics, offers a strategic roadmap for online gaming companies to streamline their reporting efforts. MGA said the award of the seals marks a milestone in its commitment to promoting responsible and sustainable industry practices.
Tier 1 seal recipients
- Aspire Global
- BML Group (Betsson)
- Betway (Super Group)
- Dumarca Gaming (Bally’s Corporation/Gamesys)
- IBA Entertainment
- L&L Europe
- NSUS Malta (GGPoker)
- One Casino
- Palasino
- Pariplay (Aristocrat Interactive/NeoGames)
- The Mill Adventure
“We believe this initiative will significantly enhance the industry’s reputation and sustainability credentials,” said MGA chief executive Charles Mizzi.
“By integrating ESG considerations into their operations, gaming companies not only contribute to the wellbeing of society and the environment but also strengthen the trust and confidence that consumers, investors, and regulators have in the industry. This initiative sends a clear message: sustainability, in the broadest sense of the word, is integral to the future of the gaming sector.”
Instrument for self-regulation
The ESG Code supports two levels of reporting, with tier one establishing foundational ESG standards and tier two representing a more aspirational approach. 11 of the 14 recipients achieved the top standard.
Seals are valid for one year, with flexibility for renewal in the subsequent reporting period, allowing operators to advance or adapt their reporting tier year by year.
Tier 2 seal recipients
- Play’n Go
- Tipico
- Trannel International (Kindred Group)
Launched last year, the ESG Code has been developed as an instrument for self-regulation. MGA said it will help remote gaming companies align with best practices and maintain a position that allows them to effectively meet the evolving expectations of key stakeholders in the sector.
While the ESG Code is voluntary, a recent iGamingBusiness op-ed argued that sustainability reporting will soon be unavoidable for corporations within the gaming industry.
Robert Montgomery and Steven Myers, founders of FiNTEL Sustain, wrote that ESG commitments can broaden gambling operators’ investment pool.
It also comes as Europe ramps up sustainability reporting, with the introduction of the Corporate Sustainability Reporting Directive (CSRD). This makes ESG reporting mandatory for corporations, with the first batch of eligible companies required to file annual reports for 2024 next year.