Dr. Carl Brincat, CEO of the Malta Gaming Authority, discussed Malta’s progress in ESG standards at a recent business breakfast event. The event, organized by Zampa Debattista and GTG, featured informative panels and engaging discussions on the topic. Dr. Ian Gauci, managing partner at GTG, emphasized the importance of adopting the right mindset when considering ESG. He stressed the need for collaboration between industries and public authorities to create effective and sustainable ESG reporting and standards. Gauci also highlighted that ESG should not be seen as just a marketing tool, but as a concept that goes beyond mere obligation.
MGA CEO Carl Brincat emphasizes the importance of adopting an ESG mindset to inspire others and lead by example. Companies should not only focus on financial performance but also strive to contribute to society and minimize any negative impacts.
Brincat introduces the concept of gaming operators obtaining a social license, in addition to a regulatory license. Gaming operators should demonstrate their care for customers beyond just generating revenue, but also consider the impact their operations have on people’s lives.
Brincat highlights that companies should prioritize ESG not only because it is the right thing to do, but also because it makes good business sense. A strong ESG strategy attracts customers, investors, and banking relationships. Data shows that players now consider ESG when choosing where to play or bet. Banks also take ESG reporting and credentials into account when granting credit.
The CEO believes that the gaming industry has the potential to lead in ESG reporting. The MGA will publish a voluntary code of good practice for ESG in the coming months, following a thorough consultation process that included peer review, research, materiality assessment, and stakeholder interviews.
Starting in 2024, large or listed companies will be required to report under the Corporate Sustainability Reporting Directive (CSRD). The code will outline key priorities for ESG in the gaming industry, aiming to reduce environmental, social, and governance impacts while further enhancing Malta’s reputation as a leading gaming jurisdiction.