Gecić Law proudly announces the participation of our Founding Partner, Bogdan Gecić, at the Regional ESG Conference: Building Resilience in a Changing World, held on June 3–4, 2025, in Skopje, North Macedonia. Organized by AmChams in Serbia, North Macedonia, and Albania, and supported by the European Bank for Reconstruction and Development and the European Union, the Regional ESG Conference brought together top business and policy leaders across the Western Balkans.
Bogdan took part in a fireside chat titled Restoring Trust by Ensuring Responsible Corporate Governance, alongside Ivan Šteriev, CEO of the Macedonian Stock Exchange. Their dynamic conversation focused on the urgent need to rebuild trust in institutions and capital markets.
“Trust is the ultimate asset class,” Bogdan said, emphasizing that without it, neither capital markets nor ESG frameworks can thrive. Ivan reflected on the Stock Exchange’s role as a “guardian of governance,” built on transparency, clear rules, and the growing integration of ESG standards.
Both speakers underscored that strong governance unlocks value and investment. Bogdan illustrated this point with real-world legal examples, showing how weak internal controls and misleading sustainability claims can lead to serious consequences—while robust governance often earns regulatory leniency and investor confidence.
The conversation moved beyond compliance to highlight real opportunities for the Western Balkans. Bogdan pointed to the region’s large pool of dormant household savings—often sitting idle in bank deposits—as untapped capital. Transparent, well-regulated markets could mobilize this wealth into productive investments, driving job creation and innovation.
He also stressed the importance of capital access for small and mid-sized enterprises. While banks provide essential financing, they can’t fully meet the needs of fast-growing companies. Deeper equity and bond markets must fill that gap. However, as Bogdan noted, financial literacy forms the bedrock of this shift. Without a public that understands risk, no amount of reform will inspire confidence or participation. He believes that capital markets are public goods. They democratize opportunity, reward innovation, and reflect the values we choose to embed in our economies. But none of it works without trust—and trust starts with governance.
Bogdan and Ivan agreed: restoring trust requires more than regulatory box-ticking. It demands a cultural shift where boards embrace ESG as a long-term strategy, not just a reporting requirement. Markets must reward transparency. Investors must prioritize integrity. And businesses must see governance not as a burden, but as a source of competitive advantage.
Their session stood out as a highlight in a packed agenda featuring voices from Transparency International, UNEP-WCMC, PwC, Coca-Cola HBC, EY, and major regional financial institutions. Together, these sessions painted a clear picture—ESG is no longer a side issue. It defines how companies operate, how markets function, and how value gets created across the region.
We thank AmCham North Macedonia, AmCham Serbia, and their partners for facilitating this timely and undoubtedly important dialogue. The Western Balkans indeed has the talent, vision, and drive to lead. Now is the time to build the frameworks that will carry it forward. Gecić Law remains proud to support this progress driving principles, partnerships, and policies.
