Kindred Group releases Sustainability Report for 2022: How did it perform?
As is the case with many other companies across all sectors of the economy, iGaming and gambling giant Kindred Group has just recently released its sustainability report for 2022.
This comes as part of a broader effort by many companies and corporate actors across the world to be as transparent as possible when it comes to the environmental impact of commercial activities.Accessible directly through their website, the report provides an introduction to the Kindred Group and sets out their long-term strategy as it relates to making their business practices as sustainable as possible. The report includes a range of different facts and figures which provide a unique insight into this major player in the iGaming sector’s operations. It also provides a snapshot into how the industry as a whole is responding to the world’s changing climate.
But what exactly does the report contain, how has the Kindred Group performed over the last year, and what does this tell us about the future of the sector? For answers to all these questions and more, keep reading below:
What is Kindred Group?
Kindred Group is an online gambling operator, which is a corporate group of 11 different brands. This includes major players in the industry such as Unibet, Maria Casino, and 32Red.
These 11 different brands include nine gambling companies which are trusted by millions of customers spread across the world, although they have a particularly strong presence in Central Europe. Kindred Group’s brands are concentrated primarily in the entertainment sector, which offers customers unique gaming and betting experiences which are based on the need to keep players safe whilst also delivering thrilling entertainment experiences.
Kindred Group has a presence primarily in Stockholm, although has registered offices spread throughout Europe through its various brands. As with many other companies in the sector, they have a particularly strong presence in Malta.
The CEO of Kindred Group is Henrik Tjärnström, who has overseen significant and continued levels of growth since he first took over the helm.
Kindred’s sustainability report has been released ahead of the company’s Annual General Meeting, which is due to be held in late April at the head office in Stockholm, Sweden.
What does the 2022 Sustainability Report say?
As the title of the report suggests, the 2022 Sustainability Report provides an overview of the Kindred Groups sustainability goals and information on whether these targets have been met. This includes an overview of the sustainability measures Kindred Group has been taking, as well as notes to help make sense of the data included in the report.Kindred Group’s sustainability efforts are focused on three pillars, which are: responsible gaming, providing a secure platform, and product integrity.
The 2022 report sets out the long-term sustainability ambitions which will drive Kindred’s business going forward, with the ultimate goal of reaching zero per cent gross winnings revenue from harmful gambling. In addition, Kindred has also put effort into limiting its overall environmental impact, as well as verifying its corporate sustainability targets in line with so-called ‘Science Based Targets Initiatives’ (SBTi).
Additionally, Kindred has developed new community and corporate partnerships, participated in community initiatives, and continued to develop and deliver on its diversity, equity, and inclusion agenda.
Speaking on results for the 2022 financial year and on sustainability ambitions more generally, CEO Tjärnström was incredibly positive about their efforts so far. Not only was he proud at how fully these targets had been embraced by all stakeholders across the group, but he was also incredibly positive about how this momentum would be carried forward into 2023 and beyond.
Sustainability and the iGaming sector
Although the 2022 Sustainability Report obviously focused on Kindred Group and how they have been responding to the looming threat of climate change, it also tells us something about the iGaming sector more broadly.
With this in mind, commenting on the report, Julia Attard of casinotopsonline.com noted that these figures “…reflect positively on the gambling industry as a whole, with many of the major players making a concerted effort to address sustainability issues over the last number of years.”One of the regional hubs at the forefront of this push is Malta, which has continued to build on its commitment to driving forward sustainability initiatives across the sector.
In particular, Malta has put significant efforts into pushing back against a perception that the gaming sector is incompatible with ‘ESG’ or ‘Environmental, Social, and Governance’ goals. In doing so, Malta has championed ESG initiatives as an opportunity to transform the iGaming sector into one that can help to make the world a better place.
This might include initiatives to support and promote player welfare, reducing the carbon footprint of iGaming companies wherever possible, encouraging good governance and regulation practices, and increasing diversity and inclusion within the sector.
It is within this context that we must view Kindred Group’s latest sustainability report, which indicates that although there is still much work to be done, the iGaming sector is at the forefront of these initiatives.