ESG

22 Sep 2022

Ognjen Colić Talks ESG at Forum Media Event

Our Partner and Head of Corporate M&A practice Ognjen Colić delivered an inspiring lecture about the latest in sustainable development and ESG, focusing on the EU’s Carbon Border Adjustment Mechanism (CBAM) and the practice of greenwashing in corporate non-financial reporting. Ognjen gave the attendants a comprehensive overview of these hot topics using examples and anecdotes from his rich experience in the field. The lecture was followed by a Q&A session and lively discussion on the topics. Ognjen explained the genesis of CBAM, its planned roll-out and its potential ramifications for businesses in Serbia.  He also spoke about the consequences of […]

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07 Sep 2022

Cycling Down Sustainability Lane in Slovenia

ESG awareness is more than essential. Organizing various panel discussions on relevant topics is a must. Yet, what type of example does an event that encourages environmental sustainability set forth if they print a ton of unnecessary paper, each delegate travels to the venue with their own car or provide an all-you-can-eat buffet which leads to an embarrassing amount of food wastage. As they say, practice what you preach. Yesterday, our team Branko Gabrić, Counsel and Nikola Kovačević, Business Development Manager attended the Net 0 event in Maribor which was co-organized by the Institute of Strategic Solutions (ISR), Ministry of […]

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01 Sep 2022

Walking the ESG Talk: Green Finance Kicked Up a Notch

With ESG becoming such a hot topic and the global sustainable finance market reaching more than USD 35 trillion in value, there are expectations of further growth in this rapidly expanding sector.  The growth is fuelled on one hand by greater standardization in the area in major economies, including the EU taxonomy, but also a rise in innovation and an ever-greater variety of financial products that fall within this category. Case in point, interesting news has just recently came from the sector. On August 29th, one of the biggest banks in Europe, Raiffeisen Bank International AG announced that it has […]

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21 Jun 2022

Corporate Reporting – the Decision Day

Today in Brussels, the EU parliament, EU governments and the European Commission will try to agree on uniform rules for corporate reporting on environmental, governance and social standards (ESG).  This will be the last time that the lawmakers meet to confirm the new reporting rules. Pascal Durand, the lead negotiator for the European parliament, stated ahead of the meeting: “If we strike a deal tonight, the EU will set the tone of the global conversation on sustainable standards for the company of the 21st century.”  This highlights the importance of the new uniform reporting rules for the companies, and as […]

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16 Jun 2022

Gecić Law team talks ESG at TerraLex Global Meeting

The first post-covid Global Meeting of the elite global legal alliance TerraLex was last week’s highlight as lawyers from 180 member law firms from across the globe gathered in Oslo.  Delegates had the opportunity to learn, collaborate and network with their colleagues in a unique series of activities and a relaxed collegial atmosphere.  The Gecić Law team took to the center stage, as for the first time the alliance built its annual meeting around a single theme, choosing one of the hottest topics in the legal world today – ESG: Environmental, Social, and Governance.  The gathering took a multifaceted approach […]

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14 Jun 2022

Serbia Takes Bold Steps Towards Renewable Energy

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 […]

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10 Jun 2022

CBAM Will Have to Wait

Building on our series of CBAM articles, we report shocking news from the EU Parliament.  Members of the EU Parliament (“MEPs”) unexpectedly rejected a series of legislative proposals from the “Fit for 55” legislative package, including the EU Parliament’s negotiating position on the introduction of a Carbon Border Adjustment Mechanism (“CBAM”). Back in 2005, the EU established the EU Emissions Trading System (“ETS”) which has since become a cornerstone of the EU’s climate change policy and its most important tool for reducing greenhouse gas emissions.  Since its inception, the ETS is constantly being reformed which was one of the goals […]

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01 Jun 2022

The SEC Takes Decisive Steps in ESG

Through several moves in recent months, the U.S. Securities and Exchange Commission (“SEC”) has demonstrated its will to put its proverbial money where its mouth is when it comes to ESG. Businesses often resort to window dressing in their ESG reports to showcase a pretty picture, using appealing ESG vocabulary without actually committing to any of these goals and values, and most importantly, without any accountability for what is being reported. The SEC seems to be interested in putting an end to such attitudes.  The body is increasingly showing resolve in addressing the practice of greenwashing reports and is doing […]

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27 May 2022

Warming Up CBAM Regulation to Cool the Earth

What has been in the making for years now is set to become a reality very soon.  The EU’s Carbon Border Adjustment Mechanism (“CBAM”) is expected to be adopted at the plenary session of the European Parliament, which will be held on June 7, 2022.  The EU is finalizing its plans to introduce a charge at its border for carbon emissions associated with products sold in the EU.  This is likely to mark a tectonic shift in international trade with far-reaching implications for businesses and economies around the world that rely on exporting their goods to the European Union.  In […]

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24 May 2022

ESG Means No Playing Favorites: The Tesla Case

Keeping up with the latest news concerning the ESG can be hard considering all the related events shaking the globe lately.  However, there may be a few of us who have not heard of Elon Musk’s outburst last week about ESG being “an outrageous scam” after Tesla was dropped from the S&P 500 ESG Index.  Why is this news important? Let’s start from the beginning.  When investors began considering aspects other than profit in their investments, that was the turning point for many corporations.  The launch of the S&P 500 ESG Index meant an evolution in (sustainable) investments, addressing the […]

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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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17 May 2022

ESG: Green Companies Require Green Management

It looks like ESG is taking another interesting turn in the corporate world.  Topics like ESG reporting are already standard, and governments worldwide are working hard on ESG reporting rules.  Companies have recognized how important it is for their businesses to wear a shiny green badge, so international companies are competing in how to best demonstrate their green agendas.  There is, however, a new initiative that gives rise to the development of “green management”.  Companies are increasingly linking the compensation packages of their executives to their performance on ESG principles.  In short, large multinationals are now including ESG criteria in […]

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13 May 2022

EU lawmakers back switch to zero emission vehicles by 2035

The Committee on the Environment, Public Health, and Food Safety (“ENVI”) decided on Wednesday to accelerate the shift to electric vehicles in Europe to reach increased climate ambitions. In July 2021, as part of the ‘’Fit for 55’’ package, the European Commission (‘’Commission’’) decided to propose an amendment to the Regulation 2019/631 to strengthen the CO2 emission performance standards for new passenger cars and new light commercial vehicles in line with the Union’s increased climate ambition.  Currently, carmakers need to ensure that their average fleet of new cars emits no more than 95 grams of C02 a kilometer. Lawmakers have […]

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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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24 Mar 2022

Moody’s Expands ESG Scoring

As the focus on environmental, social and governance considerations is becoming increasingly important and billions of dollars are being invested in sustainable projects the leading global rating agencies have incorporated these factors into their methodologies. Due to greater sensitivity to these topics and increasing client demand, as investors now must have a clear view of ESG aspects of potential investments, in the past several years credit rating agencies have found distinct methods of assessing the impact and have since gradually expanded the scope and scale of their analysis in this area to include a broader array of sectors and entities. […]

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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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14 Mar 2022

The “G” in ESG

’’Good corporate governance, it’s about being proper and prosper.” Toba Beta Environmental, social and governance (ESG) factors are increasingly being used by investors looking to assess the sustainability and risk profile of companies. Governments worldwide are taking part in this ESG focus, with new legislation being introduced to build the foundations and provide a legal basis to ESG. We have already written about the importance of ESG when assessing the market performance of a company which is supported by a growing number of research and data analyses. In previous articles, we have covered the “E” and “S”, with the letter […]

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23 Feb 2022

Bogdan Gecić spoke with Adriatic Magazine

Our founder and partner Bogdan Gecić spoke with the regional publication The Adriatic, an English-language publication by the Institute for Strategic Solutions (Inštitut za strateške rešitve) in Ljubljana. It features fundamental business and geopolitical issues of importance for the region of Southeast Europe. The interview was published in the February issue. Bogdan spoke about the Gecić Law’s achievements and its strengths when advising diverse entities in the SEE region. He singled out innovation as the key ingredient to the firm’s success and the decision to expand into new practice areas such as ESG, one of the most pressing issues of […]

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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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07 Feb 2022

The “S” in ESG

“Business, after all, is nothing more than a bunch of human relationships.” Lee Iacocca Whenever people talk about Environmental, Social & Governance (’’ESG’’), the environmental part always seems to draw all the attention.  The importance of the “S” element is often neglected.  However, it looks like COVID-19 along with the Great Resignation phenomenon have changed that, making social issues increasingly relevant. The “S” stands for the social part of the ESG concept and simply put, it deals with businesses’ relations with employees, suppliers, customers, and communities in which it operates.  Basically, the “S” is all about the way businesses treat […]

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18 Jan 2022

Bogdan Gecić – A remarkable achievement for our team

We recently won the Oscars of the legal world! Gecić Law was named the top legal firm in the 150-million-strong SEE market at The Lawyer European Awards 2021, placing our firm among the crème de la crème of the European legal market. Gecić Law was the only law firm from the former Yugoslavia and the Western Balkans to be shortlisted for the award and the first firm ever to be awarded the coveted prize in the new category covering the dynamic regional market. This is a truly remarkable achievement for our team. The news of the award going to a […]

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11 Jan 2022

Bogdan Gecić – Innovation is about continuous learning

We recently won the Oscars of the legal world! Gecić Law was named the top legal firm in the 150-million-strong SEE market at The Lawyer European Awards 2021, placing our firm among the crème de la crème of the European legal market. Gecić Law was the only law firm from the former Yugoslavia and the Western Balkans to be shortlisted for the award and the first firm ever to be awarded the coveted prize in the new category covering the dynamic regional market. The news of the award going to a Belgrade-based firm sparked significant interest. Our Founding Partner Bogdan […]

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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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22 Nov 2021

Gecić Law experts discuss sustainability at CSR Forum 2021

Gecić Law’s sustainability experts took part in two sessions at this fall’s CSR Forum organized by the Responsible Business Forum and Smart Kolektiv. Gecić Law and the Responsible Business Forum hosted a panel on responsible business practices on November 22.  The event was held as part of the CSR Forum and was titled “Strategies for Sustainability – from CSR to ESG policies.” Our Partner and Head of Corporate / M&A Ognjen Colić moderated the panel. Meanwhile, speakers at the event were Erste Bank Senior Expert for Corporate Social Responsibility Sonja Konakov Sirčev, Nelt Operations Manager Milenko Ribić, Lidl Serbia CSR […]

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19 Oct 2021

Gecic Law Takes Part in “Save Food, Save Humanity” Campaign

Gecić Law Law is proud to have contributed to a very important humanitarian campaign this year through a series of activities. At a ceremony held on October 9, Gecić Law was recognized for its contribution to this year’s National Day of Giving, as well as for participating in the “Let’s save food, let’s save humanity” campaign. The Gecic Law team, led by Senior Associate Danica Misojcic, contributed to this initiative by providing professional support to the efforts on improving the legal framework for the receipt of donations to Serbia from abroad. As part of this activity, Danica held a notable […]

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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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07 Oct 2021

Gecić Law Expands with ESG Practice Launch

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 […]

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