In our ongoing journey to illuminate the critical significance and far-reaching impact of Environmental, Social, and Governance (ESG) principles across various industries, we proudly unveil the latest edition of our ESG Chat @ Gecić Law series of interviews. In our new installment, we are thrilled to present a compelling dialogue with Elvisa Koca, Human Resources Manager at Eurotay in Serbia. This insightful conversation takes us deep into the heart of the textile industry, offering profound insights. It chiefly delves into how ESG considerations seamlessly integrate into the sector, influencing everything from production methods to corporate ethos. Our guest has tremendous […]
Details
Montenegro’s Renewable Energy Leap Montenegro has unveiled the Draft Renewable Energy Act as a significant step towards rapid renewable energy development. The legislation introduces several innovations, including auctions for premiums and feed-in tariffs, to boost the country’s green energy sector. The Ministry of Mining and Energy has organized a trio of round-table discussions in Podgorica, focusing on the Draft. This reflects Montenegro’s efforts to meet the requirements of the Energy Community, particularly in implementing the EU’s Renewable Energy Directive. Indeed, the Draft Renewable Energy Act sets an ambitious target of achieving a 50% share of renewable energy by 2030. This […]
Details
Gecić Law is pleased to announce the second edition of “ESG Chat @ Gecić Law,” an insightful series of interviews exploring the dynamic and ever-evolving world of Environmental, Social, and Governance (ESG) practices. Decarbonization and Growth In this edition, we bring you a thought-provoking discussion with Mikhail Korostikov, Senior Analyst at the Climate Bonds Initiative and a leading expert in green economics based in Serbia. The interview delves into the intricate relationship between the issue of sustainability, decarbonization and economic growth. We take a look at these phenomena from the perspective of the Western Balkans. Central to the discussion is […]
Details
5G is the fifth-generation mobile network, which promises to lead to a revolution, particularly in transportation. This article focuses on connected and automated mobility (CAM), an offspring of 5G. CAM lets vehicles communicate with each other and with the surrounding infrastructure. Such communication can, in fact, enhance road safety, ease traffic jams, and cut CO2 emissions. With this in mind, countries worldwide are diligently working on developing 5G cross-border corridors. 5G cross-border corridors are networks that connect transportation routes. These routes, whether along roads, railways, or waterways, maintain 5G connectivity across international borders. This connectivity is vital for CAM’s full-scale […]
Details
Gecić Law experts will participate in multiple sectoral training sessions on the EU’s new Carbon Border Adjustment Mechanism (CBAM) in October and November. The Ministry of Environmental Protection and the Chamber of Commerce of Serbia initiated the training program within the Swiss Program on Capacities for Trade Policies (C4TP) framework. CBAM training sessions will hence take place in several cities in Serbia during the next two months. These sessions are particularly tailored to the economic sectors affected by the CBAM regulation. First CBAM Training Session on Fertilizers On Monday, the program started its first full-day workshop at the Chamber of […]
Details
Bogdan Gecić, the Founding Partner of Gecić Law, recently spoke with journalist Paddy Bolton. He was thereafter quoted in a Brussels Signal article regarding the significant changes coming up with the European Union’s pioneering Carbon Border Adjustment Mechanism (CBAM) regulation. The European Union (EU) has begun a transitional phase for implementing CBAM, effective October 1. This initiative, part of the European Green Deal, aims to reduce carbon emissions by taxing carbon-intensive imports. The article discusses the possible implications of CBAM. Boston Consulting Group predicts this could increase the average car price in the EU by approximately EUR 600. This is […]
Details
The SEEenergy conference kicked off this morning with an exciting panel on Decarbonization in the economy. Our colleague Branko Gabrić sparked great interest as he spoke about the EU’s Carbon Border Adjustment Mechanism (CBAM). The discussion was timely as the new regulation took effect on October 1. The code will introduce significant changes, especially for a specific group of carbon-intensive industries. The energy sector is consequently among the most significantly affected. Panel Discussion on Decarbonization in Industry The distinguished panelists hailed from companies in diverse industries, including Henkel, ABB Group, Schneider Electric, Energy Net, and Viessmann. They shared their views on Decarbonization and specific […]
Details
From this Sunday, October 1, the European Union (EU) will start implementing the Carbon Border Adjustment Mechanism (CBAM) in its transitional phase. This regulation reflects the EU’s commitment to mitigating carbon leakage as part of the Fit for 55 Agenda. It aims to harmonize carbon costs between local and imported products. CBAM should also galvanize global industries towards adopting greener technologies. Initially, this mechanism will include cement, aluminum, steel, electricity, hydrogen, and fertilizer imports. From now on, importers must submit quarterly reports on greenhouse gas (GHG) emissions in production. Data collection starts in the last quarter of 2023, with the […]
Details
We are pleased to announce that Gecić Law will proudly join the sixth regional SEEenergy conference. This year’s event will take place in Novi Sad from October 2 – 3. It will explore new challenges in energy transition, including decarbonization, energy storage, and the market. At the conference, Gecić Law will share its expertise on the latest developments in EU law and their likely impact on businesses and economies of the region. EU’s Carbon Border Adjustment Mechanism (CBAM) takes effect on October 1. The regulation will introduce significant changes, especially for a specific group of carbon-intensive industries. The energy sector […]
Details
Bogdan Gecić, the Founding Partner of Gecić Law, provided insights today for Euronews Serbia’s primary news program regarding the significant changes coming up in the environmental law and international trade, driven by the European Union’s pioneering Carbon Border Adjustment Mechanism (CBAM) regulation. The CBAM regulation will begin to apply on October 1, 2023. Bogdan shared his views on the steps businesses that exporters should take to prepare. This applies to carbon-intensive sectors, including iron and steel, electricity, fertilizers, cement, hydrogen, and aluminum. In his guest appearance on Euronews, Bogdan delved into the genesis and rationale behind this unique regulation. The […]
Details
The Serbian government announced that it is looking for a strategic partner to develop a minimum of five self-balancing solar power plants with a total installed capacity of 1,000 MWac (or 1,200 MWdc) and a battery storage system with a minimum total installed capacity of 200 MW and the ability to accumulate at least 400 MWh of electric energy. The full text of the Decision of the Government of the Republic of Serbia in English is available here. The strategic partner will design, develop, build, and maintain the project before transferring ownership to the public power utility company (EPS) on […]
Details
Gecić Law adds another successful year to its story of excellence after achieving impressive rankings in the 2023 edition of the prestigious Legal 500 EMEA Guide, reflecting the firm’s world-class service and the expertise of its teams and individuals. For an impressive seventh year in a row, Gecić Law’s market-leading Competition practice has earned a Tier 1 status, with significant achievements in matters with far-reaching implications not only on the clients’ businesses but on the economies of the entire region, incorporating diverse aspects, including EU law, state aid and international trade. For a second year, the firm’s Founder and Managing […]
Details
The energy crisis and rising costs are not the primary driver but have certainly accelerated discussions on energy sustainability. Responsible companies and real estate developers are already implementing construction strategies that enable energy sustainability and qualify for certificates such are LEED and BREEM. As the market is turning greener, real estate developers are motivated to do so: it increases the demand, secures financing, and provides an overall better company image. But what about old buildings? Either built before there was awareness of the need for energy savings or just losing the battle with time, old buildings maintain energy spillage, which […]
Details
In her keynote speech at the 2023 World Economic Forum in Davos, Ursula von der Leyen, EU Commission President, outlined yesterday the main pillars of the EU’s Green Deal Industrial Plan to boost Europe’s leadership in green technology on its road to carbon neutrality. “We know we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” said von der Leyen. As the plan’s regulatory pillar, she announced a new Net-zero Industry Act to support the “greatest industrial transformation of our times” and keep up with strongly incentivized programs […]
Details
Serbian Mining and Energy Minister Zorana Mihajlovic revealed last week an aggressive national climate and energy plan that aims to increase the share of renewable energy sources (RES) fivefold to 15% by 2030, reducing dependency on coal and take Serbia into carbon-neutrality by 2050, in line with EU targets. The EUR 35bn plan focuses on solar, wind and hydropower project and is set to mark a fundamental shift that should reshape its energy sector over the coming decades. She said the new energy and mining legislation that came into effect in 2021 is historic in its focus on RES and […]
Details
Environmental awareness has been a pressing topic for decades. In the past, international treaties were signed to put words into action. One of these key treaties was the 1997 Kyoto Protocol. The reasoning behind this protocol was evident; countries needed to reduce greenhouse gas emissions (“GHG”). Back in 2008, Serbia had ratified this agreement and prescribed mandatory targets for the reduction of harmful emissions in the period between 2008-2012. The Amendment from Doha confirmed the second binding period of the Kyoto Protocol, between 2013-2020, including new obligations in GHG emissions reduction. However, perhaps the most crucial treaty was the Paris […]
Details
The Global Gateway initiative was unveiled on December 1, 2021, as a strategy of the European Union (“EU”) to support sustainable infrastructure development around the world. The EU is planning to invest EUR 300 billion over five years. The European Commission pitched the Global Gateway as a template for how Europe aims to build more resilient connections across the globe. The Global Gateway is about increasing investment, promoting values and high standards, good governance and transparency, partnerships based on equality, green, clean, secure infrastructure, but also catalyzing and supporting private sector investment in new markets as part of the Global […]
Details
Multinational entities and governments are pushing for more action regarding Environmental, Social and Governance (ESG) issues. As a result, enterprises increasingly integrate the ever-changing social and environmental factors into their business strategies. The concept of business success has changed and so must the actions they take. But what exactly is ESG? ESG is a set of standards to guide corporate policies to ensure sustainable development in the fields of environment, social and corporate governance. How Did We Get to ESG? Only twenty years ago, if one would ask a group of individuals with a business background about the main objective […]
Details
Gecić Law is pleased to announce that we have become the first independent law firm in the region to expand into the sphere of Environmental, Social & Governance (ESG) by launching a new practice that will focus on the needs of businesses in this increasingly prominent area. The practice will be co-headed by Partner | Head of Corporate/M&A Ognjen Colić and Head of Operations Hristina Kosec. The formal development of the ESG practice is a natural expansion of our corporate law activities and complements existing practices at Gecić Law. Our firm’s multijurisdictional, holistic, and cross-disciplinary approach will be coupled with […]
Details
We are immensely pleased to announce that our own Ognjen Colić was elected partner at Gecić Law. This is a greatly important milestone marking five years of continued successes. Ognjen’s independent practice joined Gecić Law in 2016, complementing its corporate arm and contributing to the strengthening of common values. Ognjen has since headed our Corporate/M&A, Labor and Energy, Infrastructure & PPP practices, taken them from strength to strength and will continue driving their growth as a partner. Ognjen’s career path has been remarkable, with more than fifteen years of professional experience across the Western Balkans (Bosnia & Herzegovina, Montenegro, North […]
Details
It is almost impossible to remain unfazed by the increasing detriments of global warming. To make matters worse – the worst is yet to come, and we can only mitigate the unavoidable consequences. To this end, the European Union (“EU”) has sought to develop a strategy for combating climate change and global warming. The children of this effort are several significant legal acts. As part of the “Fit for 55” initiative, the EU wants to reduce net greenhouse emissions by 55% by 2030. So, here’s where we get to the hydrogen economy. The global economy is currently based on hydrocarbons […]
Details
Here we go again, fighting climate change. This time, we are focusing on State aid and climate change, and discussing an important question – how green is State aid? Back in 2019, Europe ushered the European Green Deal. The European Commission published a Communication on the European Green Deal in its tenacious efforts to tackle climate change and other environmental challenges. This Communication is the EU’s attempt to work on the transition to a future where there will be no “bad emissions”, to put it plainly. If we were to get more technical, to create a Europe with net-zero emissions […]
Details
The European Commission (“EC”) adopted the Fit for 55 climate action plan on Wednesday, announcing a legislative package that aims to cut carbon emissions in the European Union (“EU”) by 55% by 2030, compared to levels measured in 1990. It also calls for action to make the continent carbon neutral by 2050. The Fit for 55 package includes provisions on expanding the EU Emissions Trading System to charge for carbon emissions in more sectors. Additionally, it proposes Effort Sharing Regulation and prescribes new emissions-cutting targets per Member State. It also calls for an increase in renewable energy sources use, creates […]
Details
Ognjen Colić, head of Gecić Law’s corporate practice, spoke at the 4th Serbian Public Private Partnership Conference, a hybrid event held today, organized under the auspices of the British-Serbian Chamber of Commerce, the British Embassy in Belgrade, the Ministry of Economy and the Ministry of Construction, Transportation and Infrastructure of the Republic of Serbia. Opening remarks were delivered by several high government officials and experts, including Tomislav Momirovic, Minister of Construction, Transportation and Infrastructure and Andjelka Atanackovic, Minister of Economy of the Republic of Serbia. Besides high government officials, developers, contractors and service providers engaged in public-private partnerships also attended […]
Details
The European Union (“EU”) and Japan created a Green Alliance and issued a document on May 27 that defines their joint goals on climate change. They committed to green growth and reaching carbon neutrality by 2050, reaffirming their commitment to the Paris Agreement. The creation of the alliance comes ahead of the UN climate conference in Glasgow in November. The event should define the implementation of the Paris Agreement. In the meantime, the EU and Japan have promised to promote green economy goals. They noted that they will help developing nations transition to low-carbon energy use. The two sides also […]
Details
The adoption of amendments, and the new group of energy-related acts are crucial for Serbia’s energy transition, which is set to be implemented through several new regulations. All countries in the Western Balkans must transition to carbon-neutral energy sectors and become part of the integrated energy market. The main goal of the transition is to increase the share of renewable energy sources, improve energy efficiency and reduce greenhouse gas emissions. Members of the Serbian Parliament adopted the Amendments to the Energy Act, the Act on Energy Efficiency and Rational Use of Energy (the “Energy Efficiency Act”) and the Amendments to […]
Details
Our Energy practice team has repeatedly demonstrated its credibility by devising unique opportunities for greenfield and brownfield investments for our clients. We provide comprehensive solutions related to privatization, regulatory compliance and due diligence in cooperation with eminent regulatory, corporate and financial experts. Counsel to Norwegian NBT AS on Wind Farms Project in Serbia Our latest accomplishment in the energy sector is providing counsel to NBT AS, Norway, a utility-scale wind power developer (exceeding 100 KW of power), in partnering with WV International (formerly Windvision). WV International has been developing wind farm projects in Serbia since 2010 and has been active […]
Details
As you already know, we make it our business to bring you news of cases that are out of the ordinary and interesting in so many ways. But this one is a first. It is not new as in recent, because it all began 10 years ago, but new in the context of originality. What you are about to read is the story of probably the most flagrant “abuse of dominant position” ever. Factual originality Providing the backdrop to this story is a business relationship in the Baltics between Lithuanian Railways (“LR”), the state-owned rail company in Lithuania, with responsibility […]
Details
On April 20, 2020, Serbian and Kosovar* transmission system operators (“TSOs”) finally took a step forward to end a years-long dispute. The breakthrough came on the back of protracted negotiations between the Kosovar* TSO KOSTT and the Serbian TSO EMS, facilitated by the European Network of Transmission System Operators for Electricity (“ENTSO-E”). The vote on the draft Connection Agreement was successfully concluded by the Regional Group of Continental Europe. Thanks to this vote and the subsequent deal, KOSTT and Kosovo* will leave the Serbia-Montenegro-North Macedonia control block and form the Kosovo*- Albania control block, as announced a number of […]
Details
To create a more favorable business environment for domestic and foreign companies wishing to invest in Serbia, and to enhance the national economy, a new Decree on the Conditions and the Manner of Attracting Investments1 (Decree), announced by the Act on Investments2, has been enacted on 11 March 2016. Relying on the Serbia Investment and Export Promotion Agency’s (SIEPA) 2015 Decree on the Conditions and Manner of Attracting Direct Investments3 (SIEPA Decree), the new Decree provides for incentives in the form of grants or, under certain conditions, exemption from customs duties, both for the investments in new production facilities (greenfield […]
Details