ESG Code of Good Practice
The ESG Code
The MGA is dedicated to championing Environmental, Social, and Governance (ESG) principles, aiming not just to regulate but to set a benchmark for excellence through sustainable development, social responsibility, and robust governance.
The ESG Code of Good Practice for the remote gaming sector is an industry-specific framework designed to enhance transparency, encourage ESG reporting, and facilitate benchmarking among companies. It complements existing industry efforts and serves as a reference for remote gaming companies to regularly assess, report on, and improve their ESG practices.
The ESG Code was developed through four key stages: peer review and research, the materiality assessment, stakeholder interviews, and consultations with licensees.
ESG Code News
Key Features of the Code
Covering 19 ESG topics organised into Environmental, Social, and Governance categories, the Code provides a strategic roadmap for online gaming companies to streamline their reporting efforts
Implementation of two tiers of reporting - Tier 1 for basic ESG standards and Tier 2 for a more aspirational level - ensures a focus on impactful sustainability efforts
Flexibility in certain disclosures accommodates the unique needs of licensees
Streamlined reporting integrates existing ESG disclosures, reducing administrative burden
Emphasis on ESG reporting rather than specific targets makes the Code more accessible to the wider industry
The MGA ESG Code Approval Seal will be awarded to entities that report under the Code, showcasing their commitment to ESG
Benefits of Reporting
- Enhanced Reputation: Aligning with ESG principles and transparent reporting enhances your company’s reputation, boosts stakeholder trust, and positively impacts the gambling sector’s image.
- Competitive Advantage: Adhering to the ESG Code positions your company as an industry leader in sustainability and social responsibility, appealing to companies prioritising these values and those under the Corporate Sustainability Reporting Directive (CSRD).
- Preparation for CSRD reporting: The Code helps online gaming licensees- whether large, listed, or indirectly affected smaller entities – prepare for upcoming regulatory requirements.
- MGA ESG Code Approval Seal: Reporting under the Code qualifies your company for the MGA ESG Code Approval Seal, valid for one year, visibly showcasing your commitment to ESG across various platforms, including your website.
- Stakeholder Engagement: ESG reporting improves communication with stakeholders – including investors, customers and employees – leading to increased engagement and satisfaction by providing transparent information on your practices.
- Risk Management: Proactive ESG risk identification and reporting contribute to long-term sustainability and resilience against market changes.