Claudia Heiling, Chief Operations Officer at Golden Whale
Tom Clover, Communications and Engagement Manager at Glitnor Group
In your view, why has ESG (Environmental, Social and Governance) and CSR (Corporate Social Responsibility) become such a major focus for iGaming companies in 2024? And will this continue?
Claudia Heiling: I think that ESG and CSR have always been important factors in any business, but especially in 2024, and I think that is largely due to heightened consumer awareness and a growing transparency of sustainable and responsible business practices.
I have no doubt that this will continue, especially as we see more advances in technology as well as new societal expectations for corporate accountability grow, driving the industry towards more sustainable, transparent and ethical operations.
Tom Clover: 2024’s focus on ESG and CSR is not unique to the iGaming sector. The phased arrival of the EU Corporate Sustainability Reporting Directive (CSRD) has codified the need for reporting on ESG matters on an international level.
Embracing ESG will give companies the chance to engage with stakeholders, internal and external, on a new level whilst also offering a framework for corporate excellence.
Companies can build a more recognisable framework, ideally standardised, against which their endeavours can be judged; principally for their own benefit but also to inform external stakeholders, customers and prospective employees.
For Glitnor Group, this structure enables clearer reporting and showcasing of our commitment to responsible and sustainable gaming, community and environmental engagement and employee experience.
How is your company promoting ESG and CSR?
Claudia Heiling: Having retention at the core of our business, we soon coined the phrase about this company being a sustainability project - and it really is: We firmly believe that promoting and optimising towards a stable & healthy customer-product relationship will benefit both LTV as well as responsible practices.
This overall goal, combined with the general notion to waste as little resources as possible in every part of our organisation have been pillars in building our organisation so far and will be in the future.
Tom Clover: Glitnor Group is in the early stages of developing an ESG and Sustainability framework, which began with recognising the substantial efforts already made in these areas.
A flagship policy has been the introduction of a paid volunteering day for all team members, helping and engaging with the local community, whilst environmental efforts continue by joining industry initiatives across Malta.
Glitnor also places the strongest emphasis on the wellbeing of its team members, with a range of initiatives and benefits designed to provide a holistic approach to physical and mental wellness.
Examples include a gratitude board, personal wellness allowance, in-office yoga, book and walking clubs and much more. The Group is committed to Responsible and Sustainable Gaming throughout its operations.
What benefits can prioritising ESG and CSR have from a commercial and operational
perspective?
Claudia Heiling: I think that both ESG and CSR are not a ‘nice to have’, they’re imperative from both a commercial and operational perspective and have always been (or should have) at the heart of any entrepreneurial activity.
As a branding exercise nowadays, it not only helps enhance your reputation with players but – in the long term – can attract a much more extensive audience who resonates with your brand.
Operationally, it puts you one step ahead of any regulatory developments by creating a much more sustainable brand, thereby ensuring long-term growth. As a result, it opens you up to plenty more investment opportunities and partnerships.
Tom Clover: ESG and CSR performance have become a key decision point in recent years for investors, and increasingly for customers and prospective employees. It seems likely that a clear and targeted ESG strategy will become visible on many site homepages in the near future as a crucial element of any company’s package.
Many younger people cite ESG as a crucial or decisive factor in their purchasing or employment choices, a trend set to grow in years to come, and particularly so in igaming with its comparatively young demographic.
Effective governance underpins corporate performance, whilst sustainable gaming promotes longer term relationships with clients. Investing in employee wellness not only leads to a healthier, higher-performing workforce but hugely aids retention and thus cuts recruitment costs significantly.
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