What Was ESG invented for?
In 2015, the UN General Assembly developed a plan to achieve a sustainable future. Then it introduced the first ESG standards in corporate ethics, taking into account the interests of all parties: from managers and employees to investors and manufacturers.
Increasingly, IGaming companies are taking measures to support social initiatives, engage in charity, community development, and ensure management efficiency. ESG practices have a significant impact on companies and investors, helping to assess the extent to which they take into account environmental, social and governance aspects of their activities. Such standards encourage correct behavior with the environment and competent solution of social issues.
Those companies that implement ESG practices improve competitiveness, attract money investors and strengthen brand reputation in the IGaming market.
Ways of ESG Implementation in IGaming
In particular, ESG standards regulate three areas:
- Caring for the environment (Environmental). To comply with ESG standards, companies use energy efficient technologies, try to reduce emissions of harmful substances into the atmosphere, and monitor the responsible use of resources (water, energy). Their goal is to reduce the negative impact of companies on the environment by controlling the level of pollution.
- Social (Social) field. ESG practices in IGaming include protection of consumer rights and fight against gaming addiction of users. For example, a company may offer self-restriction mechanisms and warn players about possible risks. Increasingly, gaming platforms emphasize maintaining fair play and effective anti-fraud practices.
- Governance field. ESG standards provide for effective corporate governance. For example, operators can demonstrate openness regarding activities, take certain measures in the fight against corruption.
Modern online gambling requires from operators a reliable partnership with all stakeholders: players, regulators and the public. And compliance with ESG standards ensures this productive and transparent cooperation.
Eco-gaming: a Responsible Approach
Online casinos are increasingly using energy-saving equipment, servers, reliable data storage systems that significantly reduce energy consumption. Leading companies continue to conclude contracts with providers and data centers, taking into account European standards.
They often conduct advertising campaigns to promote responsible attitude to the environment together with environmental organizations. Vivid examples were:
- Mr. Green Casino with its active measures to reduce its ecological footprint. The company participates in a program to eliminate plastic in the oceans, uses only energy-efficient technologies and constantly supports conservation projects.
- Betway Casino actively supports a responsible attitude towards nature by implementing programs to reduce energy and water consumption and promotes recycling.
- LeoVegas is known not only for its high winnings, but also for its concern for the environment. The company has become an active participant in a program to reduce its carbon footprint. It invests in renewable energy projects, waste management, etc.
An important point of ESG is social responsibility. In this direction, online casinos are especially effective, because they are good at replacing triggers that can lead to gambling addiction. Among the popular companies stand out:
- Kindred Group, with its well-known online casinos Unibet and 32Red, adheres to strict ESG standards, especially with regard to social responsibility and player protection.
- Betsson Group integrates ESG practices into its operations, including supporting programs to prevent problem gambling behavior.
- 888 Casino is committed to being a socially responsible company and does not stray one step from ESG principles.
An Important Component of ESG: Corporate Standards
In matters of business organization and management, interesting ESG standards are also prescribed. They imply the creation of healthy competition on the IGaming market, as well as:
- employee training
- ensuring business transparency and tax payments
- mutually beneficial cooperation on the part of partners, investors, providers, etc.
To implement these standards, companies turn to simplified casino licensing, for example, in Malta, Curacao, Bulgaria and other countries. This path is chosen by leading brands that plan to work in the market for the long term, to expand the audience and sphere of influence. In this case, it’s worth paying attention to investors, who are important to get guarantees for a successful startup.
Accents in “Gambling Policy”
All ESG standards boil down to one thing – to improve the quality of online casinos, even at the level of design, interface and software of the resource. To survive in a predatory competitive arena, gambling companies and developers must reflect the desire to provide visitors with the most comfortable and safe conditions for the game.
Quality Standards for a Successful Business
By integrating all ESG standards, working conditions for employees are improved, and there are opportunities to improve skills and grow in their careers. The IGaming market also creates a healthy competition in which partners, investors, operators, providers feel confident and free.
GamingLicensing experts, specialized in providing licensing and consulting services for the gambling industry, will help to implement ESG standards easily and simply. We’ll analyze and provide an analysis of the company’s current practices and policies from an ESG perspective. We will also identify areas for improvement and develop an action plan. Implement specific ESG practices such as energy management, emission reduction, support for social programs and more to rank top among your competitors!