iGaming Gazette’s Post

A short teaser video from the recent ESG seminar I helped organise for iGEN - iGaming Executives Network and Deloitte. Advancing the ESG agenda for a whole industry is no easy task, but with such expert partners and participants, plus an engaged audience, it becomes a pleasure - such a good vibe from the day. Working with a professional media production agency to capture the content also helps, thanks Anna and Vlad from 1GAME CHANGER 🚀. Lee Herbert Saskia Payne-Clarke Patrick Hulsen Rob Jones Mark Azzopardi Pierre Lindh⚡️ Josh O'Cock Peter Grech Alberto De Nova Mark Weingard Chris Muscat Marika Caruana Smith Ian Gauci Gemma Edward Sophie Platts David Flynn Megan Easey Heidi Lofthus Karl Buhagiar Naomi Koops Roger Parkes #esgstrategy #esgreporting #csrd #sustainability

Don't miss the opportunity to hear industry experts, including Malta Gaming Authority's Charles Mizzi, Betsson Group's Jonna Danlund, JVH gaming & entertainment group's Liesbeth Oost, GamingMalta's iVan Filletti, and iGEN's Enrico Bradamante discussing ESG as it pertains to the iGaming industry, at tomorrow's special event in collaboration with Deloitte, starting at 08:30 at The Malta Marriott Resort and Spa. Join us for presentations, panel discussions, and fireside chats with industry leaders, regulators, and experts. Topics covered will include ESG legislative reporting, MGA ESG Code, environment, social and governance pillars for the gaming industry, data governance and responsible gaming. Places are limited, so please make sure to register your interest in attending here: https://lnkd.in/dkiuwMnA Charles Mizzi Deloitte Marc Alden Enrico Bradamante Antoine Fenech Ivan Filletti Jonna Danlund Liesbeth Oost Sandro Psaila Ylenia Caruana Adrian Mamo Michaela Valletta Gianluca Busuttil Michael Bianchi 1GAME CHANGER 🚀 #ESG #sustainablegrowth #responsiblegaming #safergambling #investorrelations #philantrophy #compliance #employeeengagement #employeeretention #socialimpact #UNsustainabledevelopmentgoals #CSRD #igaming

This is worth a view - the Financial Times deconstructing ESG with this short film 'who killed the #ESG party'. It feels as though the industry is at an inflection point. The past decade hasn't felt like a party to be honest. It's been a chaotic period of misconceptions. I like how this short film takes down the false premise that #esg equates to 'good' or positive impact. Hopefully the venue has closed for the afternoon toddler party and the grown ups are arriving to party hard and enable us to live within planetary boundaries and respect human rights. It's what happens post party that is important - how the management of environmental, social and governance issues gets integrated into company strategy and investments and the underlying regulatory framework enables the marketplaces we need rather than the ones we currently have. #sustainability #data Simon Mundy

It is funny, this video exposes the problem with ESG without realising it. We have an acronym that can mean so many different things and so ripe to be weaponised. All the people in the video believe the different actions they talk about, assessing investment risk, driving positive impact, responding to economic change, being a good steward, and greenwashing are ESG - what a miraculous acronym it is! A number of the speakers discuss the difference between the impact the world has on a company/asset and the impact the company/asset has on the world, and similarly others circle around ESG’s utility as a ‘goodness’ measure vs hard-nosed money making measure, and others highlight (rightly)how this is logically interpreted by people outside the ESG bubble as investing in something ‘good’, when those inside the bubble most often mean it as a set of issues which should be considered when assessing investment risk and return i.e. ONLY do it to make money. No wonder it has led to greenwashing and culture wars. Amongst the squabbling (which is so boring!), there are some deeper issues that are not examined enough. - those that put investment returns first like the Norges bank CEO, say as a longterm investor climate is an essential risk to consider (which of course it is) but do so without recognising that values and ethics determine how we imagine what kind of world 1.5oC is and therefore what the best ways are to manage these risks. The enclosure, slavery, extraction have all been excellent ways to make money. It can also be made in ways that promote stewardship, equality and responsibility. Let’s stop pretending values are not part of it. - this leads to the second point which is the need to both respond to issues and use influence responsibly. If ESG were only the former it would be fine to cynically use it for advantage in the market casino, but when we recognise that (for example) owning 1.5% of all companies in the world comes with influence (but not control) and therefore responsibilities, it is a different thing. It is time to own the responsibility of being good stewards! - then there is the Tariq Facny’s idea that you can’t expect companies to be anything other than rapacious, and so policy makers need to step up. Yes they do, but you can’t regulate everything and so something must sit between laws and pillage. Even Milton Friedman acknowledged the importance of social norms. It is sad to think that we believe these titans of industry aren’t capable of ethical restraint to promote the long term interests of their companies - not only as a money making venture, but as members of a functioning society (see point 1 & 2) - lastly, the obsession with climate change as though it is THE problem worries me. When are we going to realise that as terrifying and urgent as it is, climate change is a symptom of the problem, not the problem itself.

🕵♂️ Who killed the ESG party? 🕵♂️ 📽 That is the name of a new short (horror?) film by the FT. The film starts with some rather bold statements about ESG and, I feel, lacks the length and depth to explore what are really fundamental questions facing the investment industry... Nonetheless, there are a few highlights that provide food for thought: 🤔 Financial intervention or conscientious objection: For as long as I can remember, there was no fixed set of rules that “ESG” funds followed. But regardless of the exact label (ESG / Green / Sustainable / Ethical), weapon manufacturing and related activities were always considered taboo. As the war in Ukraine started, I saw first hand how investors’ attitudes began to change. For me this underscores two points: 1️⃣ definitions change with time and nothing is fixed forever, and 2️⃣ what is and what isn’t “ESG-friendly” will ultimately remain subjective and, dare I say, personal. 💡 Nicolai Tangen of the Norwegian sovereign wealth fund managed to succinctly explain why ESG matters to them. If you are a long-term investor with assets so large and diversified, the environmental costs that some of your investments create will invariably be borne out elsewhere in your portfolio ⚖ . While few of us will ever invest as much money as Mr Tangen, the same argument could be applied to everybody investing in broadly diversified ETFs with a long-term approach – a much larger group! 👯 Lastly, I do not believe it is appropriate or helpful to talk of an “ESG Party” or, worse, to cynically describe ESG as a scam. The rise of ESG policies over the past decade has been so rapid that it inevitably brought with it confusion and profiteering, but these growing pains will hopefully wash out as we move into the next phase of ESG investing – or whatever moniker comes next. https://lnkd.in/ede5whdZ

Another great ESG-themed meeting today, this time between the iGEN core team and the ESG team at EY. Great to get insights into EY’s ESG strategy and offer, their take on the implications of CSRD on voluntary ESG reporting, and what needs to be done around communicating the importance of ESG preparedness to the iGaming industry, as well as the broader Maltese business community. Representing iGEN were Liesbeth Oost , myself and Enrico Bradamante, and our EY counterparts were Theo Dix and Chris Meilak. Some great concrete proposals for what we can do together going forward! #igamingindustry #ESGgoals #ESG #EYMalta #thoughtleadership

ADQ is committed to making a positive impact on the environment, society and the communities where it operates. Read more about ADQ’s approach to integrating ESG in investment activities in its sustainable finance framework via this link: https://lnkd.in/ddgCdQWw #ADQ #InvestingInGrowth #AbuDhabi #SocialResponsibility #sustainability

"ESG investing was the belle of the ball, but now the music has stopped. Was it a case of too much hype, not enough substance? Or were there darker forces at play?" 🕵️♀️ Financial Times investigates the sudden decline of a trend that was once the hottest thing in global finance. ESG investing – short for Environmental, Social, and Governance – was everywhere, promising a brighter future for both profits and the planet. But the music stopped. Was it poor performance, greenwashing scandals, or a political backlash? 🌍 "Sustainable investing is like selling wheatgrass to a cancer patient." - Tariq Fancy, former BlackRock CIO of Sustainable Investing. The film delves into the suspects behind the demise of the ESG party, exploring the challenges and controversies that led to its downfall. But is sustainability truly dead? The film suggests a shift in focus rather than a complete abandonment. Responsible investing is evolving, and it's up to us to shape its future. Watch the full film to learn more. #ESG #sustainableinvesting #responsibleinvesting #finance #climatechange #greenwashing #assetmanagement #cityoflondon #investment #pensions #savings

What do Vladimir Putin, Tucker Carlson, Tariq Fancy, Desiree Fixler and Stuart Kirk have in common? According to the FT, they belong to an elite club of suspects, each of whom contributed to killing the ESG party. Fortunately, there are no accusations of collusion between these five individuals – it seems as though they were each acting alone. And certainly, there are no equivalencies drawn between invading Ukraine and blowing the whistle on a German bank (though the German bank was uncomfortably cozy with Gazprom for a time… but that’s another story). The 28 minute film is worth watching. There are no stunning revelations or amazing graphics or visuals … And yet it presents a fairly cohesive picture of the three pillars of ESG confusion that deserve to be put to rest. 1) terminology: <RISK>… <GOOD>… or <WOKE>? 2) fund performance: over which time horizons are you measured against? Do clients really understand your mandate? 3) company performance: without government policy that levels the playing field among your peers, can you risk going ahead of your peers, if it will cost you? The big question that this film does not answer but hints at -- when something rises from the ashes of ESG, what will it be called? "Sustainability" or just good investing? Can’t wait for the sequel! ps Mark Campanale - great cameo... too bad you don't get credit for killing ESG... #ESG #ESGisnotIMPACT #Impactinvesting #riskmanagementdoesntsellfunds #sustainability

"What do we actually need to do to address some of these problems, and where does that incur short-term sacrifice, and how do we impose those sacrifices in a way that's mandatory and systemic?" - by Tariq Fancy Great and important material! For more regenerative leaders and businesses, we can make a difference. Let's collaborate to transform narratives and create a more systemic approach? : ) #regenerativefutures #integralfutures #regenerativebusiness #regenerativeleadership