MGA extends consultation period on voluntary ESG code for iGaming sector

The Malta Gaming Authority announced an extension to the consultation period for its Voluntary ESG Code of Good Practice, which was initially published in July. The Authority is inviting all interested parties to participate in the consultation and is now asking gaming operators to submit their feedback until Tuesday, August 22, 2023.

"This extension will allow all stakeholders additional time to thoroughly review the code and provide feedback," said the Authority in a statement. The initial deadline was set for earlier this month, August 8.

The MGA first began exploring the development of a voluntary ESG code of good practice for the remote gaming sector last year. Underpinned by the Authority's objective of promoting "a sustainable gaming sector that safeguards players' rights," the code aims to guide and prepare licensees for upcoming ESG legislation, particularly the EU's Corporate Sustainability Reporting Directive. Starting in 2024, all large or listed companies will be required to report under the CSRD.  

Last month, the Authority explained that the code is set to help licensees "reap the benefits of running a sustainably-conscious operation," serving as an instrument for self-regulation. Through the introduction of the code, remote gaming companies are expected to align with best practices and maintain a position "that allows them to effectively meet the evolving expectations of key stakeholders in the sector." 

According to the Authority, the code will set out the common priorities for ESG in gaming, taking into consideration the needs of key stakeholders, to reduce environmental, social, and governance impacts “whilst continually enhancing Malta’s reputation as a leading Gaming jurisdiction."

While the proposed code applies to remote gaming companies, the Authority said it is also exploring the possibility of extending it to the land-based sector in Malta, with a view to including such entities within the scope in the future, and with ESG disclosures "being adapted as required."