Kinga Warda on why Malta’s ESG Code is reshaping iGaming’s future

The Malta Gaming Authority is officially the first gaming regulator worldwide to launch an ESG Code. How is this expected to impact the industry? Ramona Depares reports.

A couple of years ago, the iGaming industry was united in concern over the EU’s proposed Corporate Sustainability Reporting Directive (CSRD). Initial submissions appeared to place a substantial reporting, KPI and disclosure responsibility on a vast range of organisations operating within the EU. The Directive would have affected the majority of gaming companies based in Malta, with small and medium-sized outfits concerned that the one-size-fits-all approach would spell disaster.

Eventually, the proposals were scaled back, removing approximately 85 per cent of companies from its scope. But the growing importance of ESG was undeniable, and it was around this time that the Malta Gaming Authority (MGA) saw an opportunity to anticipate the shift by creating a framework specifically tailored to the realities of the gambling sector.

A process of stakeholder consultation kicked off and – eventually – Malta’s iGaming ESG Code was born, alongside a dedicated hub. In a landmark move for the industry, the regulator issued the first-ever ESG Code Approval Seals to 14 gambling operators, with the first insights report published in May 2025.

“The objective was to support our licensees in navigating this area, creating a common structure for disclosure that is 100 per cent voluntary but that encourages transparency, and helps shape a more informed and trusted perception of the sector,” says Kinga Warda, Chief Officer – Policy and International Affairs at MGA and the person who oversaw the entire process.

The Code positions sustainability, social impact and responsible governance as core elements of business resilience and credibility.

“We wanted to help bring structure and visibility to the good work already being done, while also encouraging deeper reflection and progress,” Ms Warda states, adding that flexibility was essential. The framework introduced two tiers of engagement – a basic level for companies that are just starting their ESG journey, and a more aspirational tier for those ready to go further.

For future cycles, Ms Warda adds, full access to the insights report may be limited to participating companies, to further reinforce the value of engaging with the Code.

“That said, we will still publish key highlights publicly. Ultimately, we want to show where the sector stands and how it’s progressing on important ESG issues. Importantly, companies that successfully report under the Code receive an MGA ESG Code of Good Practice seal of approval – a recognition of their commitment and transparency.”

But what do the results from the first reporting cycle say about the state of the industry? For starters, what stands out is that 14 companies stepped up to participate voluntarily, despite the many regulatory demands already placed upon them.

“This tells us there’s a real desire within the sector to not only meet requirements but to genuinely understand and improve their ESG impact. We saw participants take a thoughtful look at their own practices and begin to identify opportunities to do better. It shows that the ESG Code has real value as a tool to support the sector’s sustainability journey,” Ms Warda elaborates.

The insights also revealed some recurring themes. Many companies are already active in areas like responsible gambling and employee well-being, but when it comes to topics like diversity at leadership level or formal ESG governance structures, there’s still room to grow.

“That’s completely natural,” Ms Warda notes. “ESG is a journey, not a checklist. The first cycle was never about getting everything right from day one. It was about putting a solid framework in place and then listening carefully to how it works in practice and continuing to evolve it to reflect the growing realities of the industry.”

She believes that the Code is already starting to shift how the sector thinks about sustainability – from something abstract or secondary, to a concept that is more structured and actionable.

Of course, Malta’s role as a leading jurisdiction for online gambling brings with it both responsibility and opportunity. The MGA is highly aware of its role in the sector.

“The ESG Code is a proactive step that leverages Malta’s position at the heart of the industry to support positive change. And we’re doing so not by imposing rigid requirements, but by offering a framework that is relevant, credible and grounded in real operational experience. Being the first regulator worldwide to have an ESG Code, we want to demonstrate that ESG can be meaningful and achievable in this space, and that collaboration between regulator and industry can drive genuine progress. Malta isn’t just keeping pace; it’s helping set the tone,” Ms Warda asserts.

The drive towards sustainability reporting is global – in 2023, a research paper published by the Wharton School found that an increased focus on ESG that was directly relevant to business activities can boost a company’s value by 1.4 per cent. It’s hardly any wonder that many iGaming companies are making it part of their core strategy.

This interview first appeared in the iGaming Capital 2026 edition. For more information on the iGaming Capital 2026 edition or on www.iGamingCapital.mt, get in touch via email on info@contenthouse.mt or on +356 2132 0713. Additionally, readers can visit the iGaming Capital portal at www.iGamingCapital.mt to stay updated on the latest developments in Malta’s iGaming industry.