Environmental Law

23 May 2022

Sustainability Information Mandatory Under New EU Rules

Leading economic minds are highlighting climate change as one of the most threatening factors to today’s relative economic prosperity.  Although environmental policies have been in place for a long time, they appear to have had little impact in practice.  The lack of clear definition and specific rules in the field may be an important factor, as this has been a cause of much concern and given raise to questionable practices, including the growing phenomenon of greenwashing – a deceptive method of marketing in which a product, good, or service is presented to appear to follow environmental protection principles intended to […]

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22 Apr 2022

Earth Day Special Report: Fit for 55

Today is Earth Day, a global celebration held on April 22 every year to show support for environmental protection. It began on April 22, 1970, and has since grown to include a diverse range of events coordinated globally, involving over a billion people in over 193 nations.  On Earth Day 2016, the United States, the United Kingdom, China, and 120 other countries signed the historic Paris Agreement.  To mark this important day, Gecić Law is bringing you a special Insights Report dedicated to the European Union’s legislative journey toward a carbon-neutral continent.  In July 2021, the European Commission (“EC“) adopted […]

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05 Apr 2022

Dow Jones Launches ESG Scoring

Dow Jones, the eminent global financial news and data provider, recently launched its sustainability data set for asset managers.   The purpose of the launch is to help the financial community to understand the impact of a company’s Environmental, Social and Governance (‘’ESG’’) practices. The data set shows sustainability scores for more than 6,000 publicly traded companies and includes Industry, Category and Country Scoring. As part of its methodology, Dow Jones uses a proprietary model which captures a large amount of information about environmental, social and governance elements of the ESG concept.  The information is intended to help investors build their […]

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21 Mar 2022

ESG and Football

Football fans around the world know which football clubs are in the top divisions in their respective leagues but do they know which football clubs are in the Environment, Social, Governance (‘’ESG’’) top division? ESG has become increasingly important for every industry in the world, so it comes as no surprise that ‘’the most important secondary thing in the world’’ is also largely influenced by ESG.  Clubs have adopted ESG strategies in their businesses to show their commitment to sustainability within their communities. Football clubs have large profits. Meanwhile, ESG is financial in its essence. The concept underlines that responsible […]

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09 Feb 2022

Bogdan Gecić & Ognjen Colić talk about ESG with CEE Legal Matters

Our Founding Partner Bogdan Gecić and Partner | Head of Corporate/M&A Ognjen Colić spoke with the Managing Editor of the preeminent regional legal publication CEE Legal Matters which invited Gecić Law as a leading regional law firm to take part in its featured interview published in the December edition dedicated to the Western Balkans.  They talked about the importance of ESG in the region, the firm’s new practice area and its unique approach to advising clients in the field. Gecić Law recently became the first independent law firm in the region to expand into the area of Environmental, Social & […]

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24 Jan 2022

Green bonds in Serbia

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 […]

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13 Dec 2021

European Commission Approves ’Green’ State Aid to Croatia

On December 9, 2021, the European Commission (’’Commission’’) approved Croatian State aid in the amount of EUR 783 million to support the production of electricity from renewable energy sources as part of the European Union’s endeavors to meet the climate and energy objectives set by the Communication ‘A policy framework for climate and energy in the period from 2020 to 2030’. The Croatian scheme will be open until 2023 and will be paid out to the selected beneficiaries for a period of 12 years.  The Commission assessed this scheme under the 2014 Guidelines on State aid for environmental protection and […]

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30 Nov 2021

What does the E in ESG stand for?

“The Earth is what we all have in common.” —Wendell Berry   Environmental Social and Governance (“ESG”) are the three main elements that companies increasingly consider when deciding whether to cooperate with or invest in a company.  It is also a term used in capital markets when assessing corporate behavior and a method of linking the performance in these three areas with the – future financial performance of corporations.  The term is sometimes referred to as sustainable investing, responsible investing, impact investing, or socially responsible investing. Nevertheless, once enough data has been obtained, they are integrated into the investment process […]

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13 Oct 2021

What is ESG and why is it important?

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 […]

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09 Aug 2021

Hydrogen Economy – a New Hope for a Polluted World?

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 […]

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26 Jul 2021

State Aid and Climate Change: The Challenges

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 […]

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05 Jul 2021

Fit for 55 – The Future of Europe

At the event hosted by the API/IPA international press association, Slovenia revealed the priorities of its upcoming presidency of the Council of the EU and the Fit for 55 legislative package stole the spotlight all for itself.  Before leaning into the story of Fit for 55, let us make a quick turn to the conference held just a few days ago. Slovenia is taking over the Council of the EU presidency for the next six months.  The country’s Permanent Representative to the EU Mr. Iztok Jarc and his deputy Ms. Tamara Weingerl-Požar laid out the priorities of the presidency.  Of […]

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28 May 2021

EU and Japan create Green Alliance to fight climate change

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 […]

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19 Jun 2020

Serbia on the path of adopting the Circular Economy model

Serbia – a leader in the Western Balkans Nowadays, we face numerous global challenges such as the extinction of flora and fauna, endangering of ecosystems, the continuous growth of waste, pollution and scarcity of natural resources as effects of climate changes and pollution. Radical changes are more urgent than ever and Serbia is now embarking on the course to implement them. The Ministry of Environmental Protection with the support of the UNDP project “Circular Economy Platform for Sustainable Development in Serbia”, developed a document entitled Roadmap for circular economy(“Roadmap”).  The Roadmap is modeled on the type of existing documents in […]

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