MGA initiates voluntary ESG guideline consultation
The MGA has recently initiated a consultation involving its licensees to implement a set of voluntary ESG guidelines.
Through this announcement, the regulatory authority will be taking feedback from its licensees and partners on a proposed set of voluntary guidelines on ESG best practices, giving operators the opportunity to contribute to the development of the MGA’s latest code.
The regulator first started looking into developing the code last year, with the main aim of the program being to assist the MGA’s licensees with their preparations for various upcoming European ESG laws, such as the Corporate Sustainability Reporting Directive. They will mainly help companies self-regulate their ESG efforts and maintain compliance as regulations evolve and change rapidly across the world.
MGA’s current draft guidelines have been developed through three stages across a period of half a year. This latest consultation will be one of the final rounds of feedback and will involve the regulator’s most prominent partners.
Lastly, while the draft guidelines are mainly aimed at the MGA’s online gambling licensees, the regulatory authority is considering extending the code to its local retail gambling companies as well. The MGA stated that such an extension could take place in the near future.