GDEV releases its ESG report after a challenging year
07:10 - 26 September 2023
GDEV, which was recently formed by Nexters – one of the largest European gamedev companies based in Cyprus – and a number of other studios, has released its ESG report, noting how a very difficult 2022 has made way for a new business structure, branding, and critical governance architecture.
“We faced a triad of external shocks in 2022 and this report reflects the unusual nature of this period,” said Natasha Braginsky Mounier, GDEV Chairperson. “Our business was impacted by Russia’s full scale invasion of Ukraine, a share trading freeze and acute gaming industry turbulence. To address this, we took bold decisions to rapidly relocate all of our staff to safe geographies, fully complied with Nasdaq requirements for resumption of share trading, and restructured our organisational design to further increase our long term resilience and growth opportunities. This report explains the changes in our business structure, branding, critical governance architecture, and highlights our continued focus on sustainable growth.”
GDEV is a gaming and entertainment powerhouse, focused on growing and enhancing its portfolio of studios. With a diverse range of subsidiaries including Nexters, Cubic Games, Dragon Machines, and more, GDEV strives to create games that inspire and engage millions of players for many years.
In 2022, GDEV was among many companies forced to take response measures in order to continue on a sustainable growth trajectory. The company faced significant challenges, including the first-ever decline in the mobile gaming industry, record-high inflation across multiple markets, and a decline in consumer income and confidence. Despite these challenges, GDEV persevered and took steps to adapt to the changing environment.
And now it has unveiled its various initiatives within the environmental, social, and governance (ESG) field.
Supporting KidIT and engaging in charitable efforts
GDEV supports KidIT, offering technology-driven courses to Cypriot children, and engage in charitable efforts like One Special Day. The company says in the report: “We are proud to support the international EdTech platform KidIT, which offers technology-driven offline courses aimed at fostering creativity development through technology for Cypriot children. Thanks to this initiative, local children start studying computer science from childhood at no cost and acquire valuable skills and knowledge for today’s world.”
Expanding its reach to Armenia and Kazakhstan
GDEV expanded its reach to Armenia and Kazakhstan by partnering with social and environmental organisations. It is currently actively seeking partnerships with new social and environmental organisations in new locations for GDEV.
Prioritising unity in the IT industry through TechIsland
In Cyprus, GDEV is prioritising unity in the IT industry through TechIsland, contributing to the growth of tech talent and innovation infrastructure. One of GDEV's priorities is to foster unity within the entire IT industry in Cyprus, it said, as it serves as GDEV headquarters and home to some of its studios and employees. As part of this commitment, it has been serving as board members of Techisland for several years, with its CEO Andrey Fadeev actively participating in its meetings and conferences. In addition to big initiatives, such as IT forums and meetups, Techisland also provides a platform for CSR activities in education, health, ecological issues, and societal issues. For example, in 2022 TechIsland helped to completely restore a school that was badly damaged by fire, and organised a new computer class for students.
GDEV’s energy-efficient practices
GDEV's energy-efficient practices include partnering with Amazon Web Services and a goal to be carbon neutral by 2030. To help achieve its objective, it uses the latest technologies that allow it to meet high energy efficiency standards and ensure low electricity consumption. According to the report, “We also try to choose partners, taking into account their environmental impact. For example, for servers and cloud-based solutions we use Amazon Web Services (AWS), one of the most energy-efficient solutions on the market. According to AWS, its solutions can lower a workloadʼs carbon footprint by 96% compared to European data enterprise centres, which allows us to be more energy efficient, use fewer natural resources, and make fewer carbon emissions”.
Waste management, beach cleanups and tree planting
GDEV has implemented a comprehensive waste management plan that includes reducing waste generation, reusing and recycling materials, and properly disposing of any remaining waste. In 2022, it organised a beach cleanup in Limassol, while its eco-friendly efforts continued this year; in April 2023 it conducted a tree planting campaign in two of its locations: Armenia and Kazakhstan, with the participation of GDEV employees.
It also hosted a clothing exchange event in its offices to promote sustainable consumption and waste reduction. Moreover, it is committed to making its merchandise more environmentally friendly by avoiding non-recyclable packaging and providing its employees with reusable shopping bags, glasses, and mugs.