Climate change, carbon emissions, and net-zero carbon footprint are regular terms heard these days. They aren’t always associated with the gaming industry, however. That’s changing, and IGT has joined the Science Based Targets Initiative (SBTi) program to strengthen its ESG (environmental, social, and governance) operations. This initiative aims to reduce carbon emissions and combat climate change.
IGT Takes a Stand on the Environment
SBTi, which drives climate action among businesses around the world, is now being implemented by IGT. IGT has become a member of this program and adopted a policy that reduces greenhouse gas emissions.
IGT will now align its energy policy with the 2015 Paris Agreement objectives, developing and enacting near- and long-term greenhouse gases emission targets and focusing on the SBTi Net Zero criteria targets. It will also report its progress every year in its Sustainability Report.
Wendy Montgomery, IGT’s SVP Marketing, Communications, and Sustainability, stated, “IGT is advancing its sustainability leadership in the gaming industry by joining more than 2,000 companies worldwide committed to the SBTi in reducing their emissions, generating positive value for our planet and our future while continuing to grow their business.”
She added, “Making a formal commitment to setting science-based targets advances IGT’s established sustainability program and underscores our focus on ESG activities.”
SBTi Has Global Ambitions
SBTi is a partnership of the CDP, United Nations Global Compact (UNGC), World Resources Institute, and World Wide Fund For Nature. Affiliated companies aim to limit global warming to 1.5 degrees Celsius (34.7 degrees Fahrenheit), compared to the preindustrial average.
IGT has been part of the UNGC since 2017. Since then, it has collaborated with the international organization to adopt nine UN Sustainable Development Goals and align them with its own sustainability outlook.
IGT was also recently recertified by the World Lottery Association for its Corporate Social Responsibility Standards and Responsible Gaming Framework For Suppliers.
IGT Gives Gaming Index a Boost
The AGEM Index, a monthly stock performance indicator that includes 12 global gaming suppliers, grew 1.2% to 971.59 in December. This was a 41.4% improvement, or 284.47 points higher than in December 2020.
According to the Association of Gaming Equipment Manufacturers, which compiles the index’s data, December saw seven of 12 companies associated with the index record stock price rises. They were led by IGT and Scientific Games.
IGT’s stock prices increased 7.0% in December. Scientific Games contributed 5.65 points on a 4.6% increase in stock price.