Gecić Law is proud to announce its contribution to the 2025 edition of the Chambers Global Practice Guides, authoring the Serbia chapter of the Corporate Governance: Trends & Developments section. This insightful contribution was authored by Vera Davidović, Counsel at Gecić Law, along with Associates Dušan Jablan, Marko Jović, and Uroš Rajić. All in all, they provide a comprehensive and practical overview of the latest shifts in Serbia’s corporate governance landscape. They also offer essential guidance for domestic and international stakeholders navigating the country’s evolving regulatory environment. Serbia’s Corporate Governance Evolution: Reform, Alignment, and Opportunity The article presents a detailed […]
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The European Parliament and Council have reached today a provisional agreement to simplify the EU’s Carbon Border Adjustment Mechanism (CBAM). The EU aims to ease administrative burdens while keeping its environmental impact intact. The reform is part of the broader “Omnibus I” legislative package, introduced on 26 February 2025, aimed at making EU laws more business-friendly, especially for small and medium-sized enterprises (SMEs). This reform further aligns with broader EU goals to boost global competitiveness, as outlined in the Commission’s “Competitiveness Compass”, and to reduce administrative burdens by 25% for all companies and 35% for SMEs. A New De Minimis […]
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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. Governance as the Cornerstone of Trust Bogdan took part in a fireside chat titled Restoring Trust by Ensuring Responsible Corporate Governance, alongside Ivan Šteriev, CEO of the Macedonian Stock Exchange. […]
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The European Council has formally adopted its negotiating position on the European Commission’s proposal to amend Regulation (EU) 2023/956, better known as the Carbon Border Adjustment Mechanism (CBAM). This marks a significant step in the EU’s legislative process as the Council prepares to enter interinstitutional negotiations with the European Parliament. The aim is to simplify the CBAM framework, alleviate burdens on importers—especially SMEs—without compromising its climate integrity. The move follows a strong political mandate expressed in key EU strategic documents, such as the Letta and Draghi reports and the Budapest Declaration, calling for a “simplification revolution” across EU legislation. The […]
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In a significant step toward balancing environmental ambition with economic practicality, the European Parliament has backed today reforms to streamline the EU’s Carbon Border Adjustment Mechanism (CBAM). The proposals are part of the European Commission’s broader “Omnibus I” simplification package introduced earlier this year, reflecting the EU’s intent to enhance administrative efficiency without compromising its climate targets. The revised rules aim to ease the compliance burden on small and medium-sized enterprises (SMEs) by introducing a de minimis threshold of 50 tonnes. This change would exempt about 90% of importers, particularly smaller and occasional ones, from CBAM obligations—while still covering 99% […]
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The European Parliament’s Committee on International Trade (INTA) gave backing to the European Commission’s plan to simplify the Carbon Border Adjustment Mechanism (CBAM), as part of the Omnibus I legislative package. The vote took place during an extraordinary session on April 23, 2025. A significant majority of MEPs supported the proposal and rejected proposed amendments. What Did INTA Approve? INTA endorsed a set of changes designed to ease the administrative burden of CBAM. These simplifications aim to help businesses comply while preserving the system’s environmental goals. Key proposed changes include: Exemption for Small ImportersImporters handling less than 50 tonnes […]
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The European automotive industry, a cornerstone of the continent’s economy, is currently navigating a transformative period. This era is marked by technological advancements, environmental imperatives, and intensifying global competition. To address these challenges and ensure the sector’s continued vitality, the European Commission has recently introduced a comprehensive Automotive Industrial Action Plan, focusing on innovation, clean mobility, supply chain resilience, and workforce development. Innovation and Technological Advancement Central to the action plan is the establishment of the European Connected and Autonomous Vehicle Alliance. This initiative aims to foster collaboration among industry stakeholders to develop shared software and semiconductor technologies. It also […]
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The European Commission has introduced a new legislative package aimed at simplifying sustainability and investment regulations. In the latest Competitiveness Compass we recently covered, the Commission outlined its strategy to enhance the EU’s economic prosperity and competitiveness. Known as Omnibus I and Omnibus II, these reforms are designed to cut administrative burdens, enhance business competitiveness, and maintain the EU’s commitment to sustainability goals. The key areas affected include the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CSDDD), the Carbon Border Adjustment Mechanism (CBAM), and the InvestEU Regulation. By streamlining compliance, the EU hopes to make regulatory […]
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The European Union’s Carbon Border Adjustment Mechanism (CBAM) is undergoing a major simplification – and it’s big news for businesses in the Western Balkans and around the world. CBAM, a cornerstone of the EU’s Green Deal, is designed to put a carbon price on imports of carbon-intensive goods. This helps prevent “carbon leakage” – the shift of production (and emissions) to countries with looser climate rules – and protects EU industries from unfair competition. But while the environmental goal is clear, CBAM’s complex rules raised concerns for businesses both inside and outside the EU. Now, recent moves to simplify CBAM’s […]
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We are delighted to announce another outstanding achievement by our esteemed Partner, Ognjen Colić. His expertise and dedication continue to set benchmarks in the legal profession. The newly renamed Lexology Index (formerly Who’s Who Legal) recognized Ognjen’s exceptional contributions and elevated his standing in the 2025 rankings. New Recognition in Banking The Lexology Index included Ognjen in the 2025 Banking report as one of only two ranked lawyers in our jurisdiction, both from Gecić Law. This recognition highlights his exceptional understanding and mastery of banking law’s regulatory aspects. He consistently advises clients on high-profile transactions, regulatory compliance, and innovative financial […]
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Serbia has taken a bold step by amending its Energy Act, lifting a decades-long moratorium on nuclear energy. This marks a pivotal moment in the country’s energy policy, aligning its strategies with the European Union’s commitment to sustainability and decarbonization. The move opens new opportunities for innovation, investment, and collaboration, positioning Serbia as a key player in the regional energy transition. EU’s stance on Nuclear Energy The European Union (EU) has long prioritized renewable energy and consistently provided support and incentives to encourage the transition to cleaner energy sources. This commitment extends to nuclear energy, officially classified as sustainable under […]
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To bolster Europe’s clean energy transition, the European Commission has recently announced a EUR 4.6 billion investment. This funding aims to advance net-zero technologies, electric vehicle (EV) battery cell manufacturing, and renewable hydrogen production. Thie initiative marks a pivotal step in the EU’s commitment to achieving climate neutrality by 2050. Investment Breakdown Net-Zero Technologies: A EUR 2.4 billion call for proposals targets projects that focus on decarbonization, including the manufacturing of components for renewable energy, energy storage, heat pumps, and hydrogen production. This effort aims to enhance Europe’s leadership in innovative, clean energy technologies. Electric Vehicle Battery Manufacturing: For the […]
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The European Commission recently released a comprehensive set of Frequently Asked Questions (FAQs) to assist investors and companies in implementing the EU Taxonomy, a classification system that defines environmentally sustainable economic activities. This initiative aims to enhance the usability of the EU’s sustainable finance framework and alleviate administrative burdens for companies. The EU Taxonomy is integral to the EU Action Plan on Sustainable Finance. It specifically provides a standardized framework to identify economic activities that significantly contribute to one or more of six environmental objectives without causing substantial harm to others. These objectives encompass climate change mitigation, climate change adaptation, sustainable […]
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Last week, the European Council adopted new legislation to regulate Environmental, Social, and Governance (ESG) ratings providers. This marks a significant step in enhancing the transparency, reliability, and accountability of ESG ratings, which have become crucial in sustainable finance and investment decision-making. The regulation addresses the increasing demand for trustworthy ESG data amid criticisms about the sector’s lack of oversight and uniformity. Key Features of the Regulation Supervision by ESMA Under the new rules, ESG ratings providers operating in the EU must obtain authorization from the European Securities and Markets Authority (ESMA). This requirement also extends to providers outside the […]
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Gecić Law proudly presents the latest edition of our ESG Chat @ Gecić Law series, where we spotlight innovators who are paving the way for integrating Environmental, Social, and Governance (ESG) principles across industries. In this special edition, we are thrilled to feature an insightful conversation with Milica Mišković, Co-founder and Managing Partner of the ESG Knowledge Hub. She leads projects that elevate corporate standards and strengthen the resilience of businesses in the region. She advocates for sustainability and responsible business practices at both corporate and community levels. The interview In our interview, Milica reflects on her remarkable journey. She […]
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Gecić Law proudly presents the latest edition of our ESG Chat @ Gecić Law. In the series of interviews, we explore the integration of Environmental, Social, and Governance (ESG) principles across various areas. In this edition, we shift our focus to the remarkable work being done within the social sphere. We had the privilege of speaking, Tatjana Dražilović, Director of the Zvezda Center. In addition to this role, she leads many other social projects in Serbia. Tanja is an amazing humanitarian and a long-standing partner of our firm. She is indeed a distinguished practitioner with years of experience in supporting […]
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Gecić|Law proudly presents the latest edition of our ESG Chat @ Gecić Law series, we are focusing on the intersection of Environmental, Social, and Governance (ESG) issues in big corporations. In this interview with Tijana Koprivica, Director of Sustainable Business at Delta Holding, and Manager of the Delta Foundation we learned about the ways of introducing innovations in business that directly or indirectly impact the environment and sustainability, as well as the company’s own sustainable operations and future strategies that benefit the community. Delta Holding prioritizes ESG principles, integrating them into its business strategy for sustainable development. The company is […]
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A recent initiative has emerged in Serbia, proposing amendments to the Value Added Tax Act with a dual purpose: encouraging food donations and combating food waste. These proposed changes carry significant implications, not only for the economy but also for environmental, social, and governance (ESG) considerations. The Proposal The proposed amendments present a strong possibility to tackle food waste by incentivizing surplus food donations from legal entities involved in food production or sales. By exempting such donations from Value Added Tax (VAT), the initiative aims to eliminate financial barriers that often deter businesses from contributing excess food to social and […]
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The inaugural meeting of the informal Expert Group on the Carbon Border Adjustment Mechanism (CBAM) took place online on April 23, 2024. Hosted by the Directorate-General for Taxation and Customs Union (DG TAXUD), the meeting marked the beginning of a collaborative effort to guide the implementation of CBAM during its transitional phase and the definitive period, which is set to commence on January 1, 2026. The expert group comprises representatives from EU Member States, industry associations, NGOs, civil society, observers from third countries and international organizations. The session began with a welcome from DG TAXUD, acknowledging the participants’ commitment to […]
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The European Critical Raw Materials Act (CRMA) was formally signed by the co-legislators, the European Council, and the European Parliament today. The Act will enter into force 20 days after publication in the EU Official Journal. Introduction to the European Critical Raw Materials Act (CRMA) In an era marked by rapid technological advancement and escalating geopolitical tensions, securing access to essential resources has become a priority for nations worldwide. The European Union, recognizing the strategic necessity of ensuring a sustainable and secure supply of critical raw materials (CRMs), has adopted the European Critical Raw Materials Act. This legislative framework is […]
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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 […]
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The European Union’s Corporate Sustainability Due Diligence Directive (CSDDD) has faced escalating challenges since its final draft release on January 20. Despite weeks of uncertainty and concerns over the proposal’s fate, supporters were buoyed by the European Council’s unexpected decision to schedule a vote for February 28. However, optimism quickly waned as the vote failed to garner sufficient support. This cast doubt on the CSDDD’s revival before the March 15 deadline for approval by the European Parliament. The Directive The CSDDD, also called the CS3D, aims to establish a corporate due diligence standard on sustainability issues within the EU. The […]
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Gecić Law proudly presents the latest edition of our ESG Chat @ Gecić Law series, we are focusing on the intersection of Environmental, Social, and Governance (ESG) issues within the banking and finance sector. In this interview, we delve deep into the insights and perspectives of a distinguished ESG and CSR expert in Serbia, Sonja Konakov Svirčev, Corporate Social Responsibility, Diversity and Inclusion Manager at Erste Bank Serbia. Our guest expert shares their extensive knowledge of the role and significance of social responsibility within the broader ESG framework. She also emphasizes the strategic importance of socially responsible and sustainable business […]
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In a landmark accomplishment, the collaborative efforts of Gecić Law’s ESG and EU Law teams, alongside Shibolet & Co.’s Environment, Sustainability & Climate Change team, in partnership with Sher Consulting & Training, have led to a significant milestone. This achievement marks the successful submission of the first CBAM reports from Israel in accordance with the EU’s new CBAM (Carbon Border Adjustment Mechanism) regulation. This groundbreaking collaboration supports Israeli aluminum, steel, and iron exporters, addressing the challenges of a new era in environmental accountability. Importers successfully submitted their first CBAM reports, covering the fourth quarter of 2023, by the January 31, […]
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In an era where businesses are increasingly attuned to their environmental and social footprint, the European Union has ushered in a transformative era by introducing the Corporate Sustainability Due Diligence Directive (CSDDD). Anticipated to take effect in 2024, this groundbreaking legislation is poised to reshape the landscape for companies operating within the EU and beyond its borders. At its essence, the CSDDD compels large companies to: Identify, prevent, and alleviate potential adverse impacts on human rights and the environment across their entire value chain, encompassing subsidiaries, suppliers, and downstream partners. Institute a due diligence process integrating risk assessment, grievance mechanisms, […]
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The European Union (EU) has recently made another significant advancement in its commitment to reducing carbon emissions by reaching a provisional agreement on stringent regulations to reduce emissions from trucks, buses, and trailers. These heavy-duty vehicles (HDVs) are known to be substantial contributors to harmful emissions. With the implementation of these new rules, there will be a significant shift towards cleaner and more eco-friendly transportation. What’s changing? Starting in 2030, new HDVs will have to emit 45% less carbon dioxide (CO2) compared to 2019 levels. This target becomes even more ambitious in 2035, with a 65% reduction in CO2 emissions […]
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What are Green and other related ESG corporate bonds? Green bonds, a prominent term in finance, have recently gained significant attention. These instruments, part of the broader Environmental, Social, and Governance (ESG) category, offer distinct advantages over regular bonds and play a crucial role in modern finance. Like regular bonds, ESG bonds involve loans from investors to organizations. These loans finance projects, and investors receive their principal back with interest. ESG bonds include green, social, climate, and sustainability-linked types. Green bonds, issued by public or private entities, finance environmental or climate change projects. They represent the environmental aspect of ESG. […]
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