Companies that disclose certain Environment, Social and Governance (ESG) related information will be recognized with a new MGA ESG Code Approval Seal. The regulator has already published the design of the seal and expects first submissions in the third quarter of 2024.
After talking to the iGaming companies, the Maltese regulator found that there’s a strong desire for recognition by MGA. And this seal of approval is a new way to earn it. To receive the seal, companies must submit specific ESG information. Here’s what MGA wants to know:
- Environment. How companies and their supply chain affect the environment. Carbon footprint is one of the examples pointed out by the regulator.
- Social. How companies interact with employees, customers and society. Promoting responsible gambling, diversity and inclusion are the things of interest in this case.
- Governance. Policies and practices companies have in place to prevent corruption and make sure the business is resilient and transparent.
There will be Tier 1 and Tier 2 levels of reporting, the latter requiring more information to be disclosed. Reporting is confidential.