Last Updated on Thursday, 9 November, 2023 at 3:35 pm by Andre Camilleri
The Malta Gaming Authority on Wednesday launched a voluntary ESG code for the remote gaming sector.
The Economy Ministry said in a statement that this code will serve as a reference point for operators to evaluate, report, and enhance their practices when it comes to implementing principles of environmental protection, social responsibility, and good governance.
During a press conference, where this code was unveiled, the Minister for the Economy Silvio Schembri highlighted how the environment, social responsibility, and good governance were fundamental pillars in the 2024 Budget.
Through this budget, he said, the government will continue to incentivise the economy of tomorrow through a strategy targeting new sectors such as the creative industries, including the growing areas of eSports and video game development.
The Minister pointed out that the gaming sector has seen significant growth, generating €1.5 billion last year and providing high-quality employment. He mentioned that up till the end of 2022 this sector employed around 11,200 people directly and around 16,000 when considering the indirect jobs it created.
He explained how Malta is expanding toward new economic niches, such as eSports and video game development, with a particular mention of the ESL Pro League Season, which sees Malta placed as a significant centre in this industry.
Regarding video game development, he stated that prominent names like Dorado games, Narc, Anvil, and Keyword Studios are already established in the country. Malta has 250 people working in this sector, and the government’s goal is to increase its contribution to 1% of the GDP by 2028.
The Minister expressed his gratitude to the Malta Gaming Authority for its regulatory work and commended the authority’s diligent work in not just monitoring the gaming industry but also understanding and offering a framework in which licensed operators can grow while adhering to good practices.
On his part, the CEO of the Malta Gaming Authority Carl Brincat explained that as industries grow, there is a growing need for more transparency and accountability, particularly when addressing social and environmental concerns. The new voluntary ESG code will play a role in helping the industry meet these requirements, he said.
Kinga Warda, Head of Policy and International Affairs at the Malta Gaming Authority, outlined how the ESG code was developed through extensive collaboration with the gaming industry to ensure that it reflects the sector’s needs in Malta, along with the authority’s role as a regulator in the same space.