19 Dec 2022

Shibolet and Gecić Law Held Webinar on New EU ESG Regulation

Our Founding Partner, Bogdan Gecić, took part in a webinar organized by the preeminent Israeli law firm Shibolet titled „The Effect of New EU Regulation on Israeli and Global Trade.“ The audience, primarily Israeli businesses in diverse industries, had the opportunity to hear from leading experts in both ESG and EU law and international trade about how the EU’s new ESG regulation may affect trade relations with the EU and what they can do to prepare.

Galit Ofer, Partner at Shibolet, introduced the panel and provided an overview of the ESG agenda and the significance of EU-Israel trade relations. She spoke of the level of preparedness of the local environment for the new legislation and the extent to which local regulation includes ESG compliance and reporting.

Bogdan discussed three critical pieces of EU regulation that are likely to have an impact on international trade – the Corporate Sustainability Reporting Directive („CSRD“), Corporate Sustainability Due Diligence Directive („CSDD“), and the Carbon Border Adjustment Mechanism („CBAM“). He analyzed the potential impact of the new legislation from a business perspective. Bogdan offered a practical approach to what companies should learn, look out for, and how to get ready to take advantage of the opportunities and mitigate potential threats. He emphasized the importance of analytical and preparatory work, regardless of the current status, as the new legislation is expansive and will soon affect many more non-EU undertakings. Bogdan also spoke of the potential indirect implications of the regulation on non-EU companies that are part of an EU-related value chain and the strength of the “Brussels effect” on all businesses and economies with significant trade links with the EU. ESG concepts and standards are here to stay, and most companies must adapt to remain competitive in the international market.

Shibolet is one of Israel’s largest full-service corporate law firms, building on a sterling legacy as a pioneer in tailor-made legal solutions across evolving market sectors. Consistently ranked among the top five Israeli law firms, Shibolet is widely regarded as a powerhouse for business-oriented legal service, expertise, and insight. Shibolet brings together more than 270 full-time law practitioners, each of whom has different specialties and complementary skills.

Gecić Law and Shibolet are fellow members of Terralex, the elite global association with the mission of helping member firms serve their clients’ legal needs and business interests through a worldwide network of quality law firms that meets high professional standards.

To view the full webinar, please follow this link.