Flutter Entertainment aims to set agenda for change with sustainability strategy

The parent company of Paddy Power, Betfair and Sky Bet launched a new sustainability strategy on Monday which it said could serve as a framework for the wider industry.

Flutter Entertainment's 'Positive Impact Plan' set out a number of targets across four key areas, including safer gambling.

The announcement comes with the government in the midst of its review of gambling legislation with a white paper expected in the spring.

The company said by 2030 it was aiming to have 75 per cent of its active online customers globally using one or more of its 'Play Well' safer gambling tools, with more than 50 per cent using one or more tools by 2026. It is also introducing Play Well metrics for each of its divisions, directly linked to employee remuneration.

In terms of Flutter's employees, the company said it was targeting having 40 per cent of its top leadership roles filled by women while, having spent £3.7 million in community initiatives in 2021, Flutter said it wanted to "improve the lives of ten million people" with a focus on "sport, health and wellbeing".

Flutter also said this year it would set targets for a strategy to net zero emissions and would transfer to renewable energy by 2030.

Flutter Entertainment chief executive Peter Jackson

Chief executive Peter Jackson said the plan demonstrated Flutter was "setting the agenda for positive change".

He added: "We are committed to contributing positively to our customers, colleagues and the communities in which we operate. This plan builds on the strong foundations laid by each of our divisions, leveraging our global scale and positioning us at the forefront of meaningful change."

Jackson said the company had invested £45 million to support and promote safer gambling during 2021.

"Continuing to show leadership in safer gambling is critical for the sustainability of our business and I believe that the goals we are setting out today as part of our new Play Well strategy will materially enhance our global customer protections and serve as a framework for the wider industry," he added.

Gavin Kelleher, gaming and leisure analyst at stockbrokers Goodbody, said the launch of the strategy was a positive move by Flutter and should be welcomed by investors.

He added: "The one question that some may ask is how much this will cost the business, particularly around the enhanced safer gambling measures.

"The impact is very hard to quantify, but there is no doubt there will be an impact on growth rates at certain stages. However, we believe the benefits of positioning the business on a more sustainable footing longer term far outweighs this."

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