The Malta Gaming Authority has been considering the implementation of a voluntary code to promote ESG best practices among local licensees.
This announcement comes at an era when large corporations are being exposed to increasing environmental and social impacts. The Maltese government established its own voluntary social, environmental, and governance impact reporting platform over the last few years. This was followed by the recent decision to mandate these reports for all publicly-listed and larger privately owned companies beginning in 2024.
With their voluntary ESG guidelines, the gambling regulator is primarily trying to assist local businesses in getting familiar with the new reporting mandate before it becomes active. Participating firms will be able to prepare for the legislation, and potentially reap the benefits of sustainable business operations.
Although the MGA has not yet announced any timelines for ESG code development, it sent a survey to local licensees as part of this initiative. This survey will help improve transparency and sustainability in the industry. The survey was not described in detail by the regulator’s announcement.