The Game Console Voluntary Agreement (titled the "Self-Regulatory Initiative") is the result of many years of work, involving extensive consultations with the European Commission, civil society organisations, and EU Member States.

The advantage of this self-regulatory approach over formal regulation is its effectiveness and adaptability. With the speed of product development in the games industry sector, parameters set by an implementing measure can be rapidly outdated. This Voluntary Agreement commits our companies to strive constantly for improved energy efficiency.

The Voluntary Agreement specifies commitments industry must make regarding maximum power limits and auto-power down for different types of mains-powered game consoles 'placed on the market' within EU countries (except those consuming under 20 W). Commitments made under the Voluntary Agreement will improve game console energy efficiency without compromising console performance and the gaming experience. Gamers will also benefit by receiving additional information on the energy consumption of their consoles and instructions on how to minimise energy consumption. The Voluntary Agreement also includes provisions to align with the European Commission’s proposed action plan on the Circular Economy.