Environmental Law

15 May 2024

CBAM: First Informal Expert Group Meeting

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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25 Mar 2024

ESG Chat @ Gecić Law – ESG in the textile industry: sustainable business as a development imperative – Elvisa Koca, Eurotay

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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18 Mar 2024

Gecić Law Supports Landmark Investment of JFE Shoji in Serbia

Gecić Law is delighted to announce its successful role as the legal counsel supporting JFE Shoji Corporation and its Serbian affiliate (“JFE Shoji”) in a significant greenfield investment in Serbia.  This involved the acquisition of a 10-hectare land plot in the prime industrial zone of Indjija.  The investor will construct a cutting-edge production plant in this location, that will serve as headquarters for JFE Shoji’s European operations.  The foundation stone laying ceremony for this ambitious Japanese investment took place on March 18, 2024. With an investment of 50 million euros, this pivotal project marks a major milestone for JFE Shoji […]

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29 Feb 2024

CSDDD Challenges: Navigating Setbacks in EU Legislation

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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21 Feb 2024

Montenegro Unveils its First Draft Renewable Energy Act

Montenegro’s Renewable Energy Leap Montenegro has unveiled the Draft Renewable Energy Act as a significant step towards rapid renewable energy development.  The legislation introduces several innovations, including auctions for premiums and feed-in tariffs, to boost the country’s green energy sector. The Ministry of Mining and Energy has organized a trio of round-table discussions in Podgorica, focusing on the Draft.  This reflects Montenegro’s efforts to meet the requirements of the Energy Community, particularly in implementing the EU’s Renewable Energy Directive. Indeed, the Draft Renewable Energy Act sets an ambitious target of achieving a 50% share of renewable energy by 2030.  This […]

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24 Jan 2024

HDVs Emissions: Trucks, Buses, and Trailers Getting a Green Makeover in Europe

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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11 Jan 2024

Green Bonds: The Rise of ESG Financial Instruments

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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21 Dec 2023

ESG Chat @ Gecić Law: Decarbonization and Growth – Economic and Sustainability Perspectives in the Western Balkans: Mikhail Korostikov, Climate Bonds Initiative

Gecić Law is pleased to announce the second edition of “ESG Chat @ Gecić Law,” an insightful series of interviews exploring the dynamic and ever-evolving world of Environmental, Social, and Governance (ESG) practices. Decarbonization and Growth In this edition, we bring you a thought-provoking discussion with Mikhail Korostikov, Senior Analyst at the Climate Bonds Initiative and a leading expert in green economics based in Serbia.  The interview delves into the intricate relationship between the issue of sustainability, decarbonization and economic growth.  We take a look at these phenomena from the perspective of the Western Balkans.  Central to the discussion is […]

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20 Nov 2023

ESG Chat @Gecić Law: ESG from the point of view of telecommunications and multimedia: Nataša Obradović, Telekom Group

Gecić Law is pleased to announce another practice-focused initiative on this website and our social media platforms.  Welcome to “ESG Chat @ Gecić Law,” an insightful series of interviews exploring the dynamic and ever-evolving world of Environmental, Social, and Governance (ESG) practices.  This series delves into the complex interplay of sustainability, corporate responsibility, and ethical governance.  Leading experts, practitioners, and innovators present their views on these crucial matters.  Moreover, each interview offers a unique perspective, shedding light on how ESG principles reshape industries and influence corporate strategies.  From discussing regulatory challenges to highlighting successful ESG initiatives, our “ESG Chat” is […]

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07 Nov 2023

Branko Gabrić to Participate in TerraLex’s Webinar on CBAM

Gecić Law is honored to announce that our esteemed colleague and counsel, Branko Gabrić, will share his specialist knowledge during an upcoming interactive global webinar on the European Union’s new Carbon Border Adjustment Mechanism (CBAM) regulation.  The prestigious global legal network TerraLex presents the event “The Impact of the Carbon Border Adjustment Mechanism.” Branko will be in the company of illustrious speakers, including Assunção Cristas, Head of Environment at Vieira de Almeida, and Nithya Nagarajan, Partner at Husch Blackwell. The event aims to discuss the implementation of CBAM, a groundbreaking initiative by the European Union.  The mechanism entered its transitional phase […]

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23 Oct 2023

Bogdan Gecić Talked About CBAM With Euractiv Serbia

Bogdan Gecić, Founding Partner at Gecić Law, recently spoke to Euractiv Serbia and shared his insights on the critical changes in international trade likely to ensue as a result of the European Union’s groundbreaking Carbon Border Adjustment Mechanism (CBAM) regulation.  The regulation entered its transitional phase on October 1, 2023.  Moreover, Bogdan detailed the ramifications for businesses.  The article is titled “CBAM: Why is It Important and What Do We Need to Know?” The article clearly explains the motivation and reasoning behind this unique regulation.  With the CBAM, the EU pioneers the world’s first carbon border tax on imports into […]

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10 Oct 2023

Gecić Law Contributes to Sectoral CBAM Training Program

Gecić Law experts will participate in multiple sectoral training sessions on the EU’s new Carbon Border Adjustment Mechanism (CBAM) in October and November.  The Ministry of Environmental Protection and the Chamber of Commerce of Serbia initiated the training program within the Swiss Program on Capacities for Trade Policies (C4TP) framework.  CBAM training sessions will hence take place in several cities in Serbia during the next two months.  These sessions are particularly tailored to the economic sectors affected by the CBAM regulation. First CBAM Training Session on Fertilizers On Monday, the program started its first full-day workshop at the Chamber of […]

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03 Oct 2023

Bogdan Gecić Quoted in Brussels Signal

Bogdan Gecić, the Founding Partner of Gecić Law, recently spoke with journalist Paddy Bolton.  He was thereafter quoted in a Brussels Signal article regarding the significant changes coming up with the European Union’s pioneering Carbon Border Adjustment Mechanism (CBAM) regulation.  The European Union (EU) has begun a transitional phase for implementing CBAM, effective October 1.  This initiative, part of the European Green Deal, aims to reduce carbon emissions by taxing carbon-intensive imports. The article discusses the possible implications of CBAM.  Boston Consulting Group predicts this could increase the average car price in the EU by approximately EUR 600.  This is […]

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02 Oct 2023

Gecić Participates at SEEenergy 2023

The SEEenergy conference kicked off this morning with an exciting panel on Decarbonization in the economy.  Our colleague Branko Gabrić sparked great interest as he spoke about the EU’s Carbon Border Adjustment Mechanism (CBAM).  The discussion was timely as the new regulation took effect on October 1.  The code will introduce significant changes, especially for a specific group of carbon-intensive industries.  The energy sector is consequently among the most significantly affected. Panel Discussion on Decarbonization in Industry The distinguished panelists hailed from companies in diverse industries, including Henkel, ABB Group, Schneider Electric, Energy Net, and Viessmann.  They shared their views on Decarbonization and specific […]

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29 Sep 2023

CBAM Starts Transitional Phase on Sunday

From this Sunday, October 1, the European Union (EU) will start implementing the Carbon Border Adjustment Mechanism (CBAM) in its transitional phase.  This regulation reflects the EU’s commitment to mitigating carbon leakage as part of the Fit for 55 Agenda.  It aims to harmonize carbon costs between local and imported products.  CBAM should also galvanize global industries towards adopting greener technologies. Initially, this mechanism will include cement, aluminum, steel, electricity, hydrogen, and fertilizer imports.  From now on, importers must submit quarterly reports on greenhouse gas (GHG) emissions in production.  Data collection starts in the last quarter of 2023, with the […]

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25 Sep 2023

Gecić Law to Join the SEEenergy Conference

We are pleased to announce that Gecić Law will proudly join the sixth regional SEEenergy conference.  This year’s event will take place in Novi Sad from October 2 – 3.  It will explore new challenges in energy transition, including decarbonization, energy storage, and the market. At the conference, Gecić Law will share its expertise on the latest developments in EU law and their likely impact on businesses and economies of the region.  EU’s Carbon Border Adjustment Mechanism (CBAM) takes effect on October 1.  The regulation will introduce significant changes, especially for a specific group of carbon-intensive industries.  The energy sector […]

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15 Sep 2023

CBAM Implementing Regulation Officially Unveiled

The European Union has formally unveiled today specific rules for importers on implementing the world’s first carbon border tax.  These guidelines in the form of its Implementing Regulation were published today in the EU’s official journal, highlighting the processes to be followed by EU importers in light of the Carbon Border Adjustment Mechanism (CBAM) during its transitional phase. The Carbon Border Adjustment Mechanism is a groundbreaking initiative by the European Union.  CBAM aims to level the playing field between EU producers who bear carbon pricing costs and foreign producers who don’t face these charges.  It discourages businesses from seeking cheaper […]

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15 Sep 2023

Bogdan Gecić Talks CBAM on Euronews

Bogdan Gecić, the Founding Partner of Gecić Law, provided insights today for Euronews Serbia’s primary news program regarding the significant changes coming up in the environmental law and international trade, driven by the European Union’s pioneering Carbon Border Adjustment Mechanism (CBAM) regulation.  The CBAM regulation will begin to apply on October 1, 2023.  Bogdan shared his views on the steps businesses that exporters should take to prepare.  This applies to carbon-intensive sectors, including iron and steel, electricity, fertilizers, cement, hydrogen, and aluminum. In his guest appearance on Euronews, Bogdan delved into the genesis and rationale behind this unique regulation.  The […]

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25 Aug 2023

Bogdan Gecić on the EU CBAM

Bogdan Gecić, Founding Partner at Gecić Law, was featured in eKapija for his insights on the immanent and profound transformation in both environmental and international trade regimes, propelled by the European Union’s groundbreaking Carbon Border Adjustment Mechanism (CBAM) regulation.  As the CBAM takes effect on October 1, 2023, Bogdan detailed his insights for eKapija.  The article is titled “The Revolutionary New EU Carbon Import Tariff: What Do You Need to Know?” The article explains the motivation and reasoning behind this unique regulation.  With the CBAM, the EU pioneers the world’s first carbon border tax on imports in the EU.  Accordingly, […]

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18 Aug 2023

EU’s Carbon Border Adjustment Mechanism (CBAM): Key Considerations

Introduction The European Union has initiated the world’s first carbon border tax, known as the Carbon Border Adjustment Mechanism (CBAM), in a strategic move to tackle the mounting concerns of climate change.  The CBAM is designed to level the competitive landscape, ensuring that EU companies, which are already bearing the cost of their carbon emissions, remain on equal footing with enterprises originating from nations with minimal or no carbon emission charges.  While the Carbon Border Adjustment Mechanism (CBAM) stands as a significant development in the realm of climate policy, its ramifications extend beyond environmental considerations, reshaping the contours of international […]

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09 Aug 2023

How close are Western Balkans to the EU ETS?

As we previously reported, the pivotal Energy Community Ministerial Meeting held in Tepelenë, Albania, in June signaled potential developments in green energy and decarbonization in the Western Balkans (WB). High-ranking officials, including Energy Community Contracting Parties ministers, European Commission representatives, and Energy Community Secretariat members, converged at the Informal Ministerial Council Meeting to deliberate on salient energy issues, with the centerpiece being the Energy Community Decarbonisation Roadmap, which aims to establish a regional emissions trading system (“ETS“) and set ambitious decarbonization targets. These talks hold immense importance in implementing the Carbon Border Adjustment Mechanism Regulation (“CBAM“), specifically in the electricity […]

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14 Jul 2023

Advancing Sustainability and Circular Economy: New European Regulation on Batteries and Waste Batteries

On July 10, 2023, the Council of the European Union (“Council”) officially adopted the Regulation of the European Parliament and of the Council concerning batteries and waste batteries (“Regulation”).  This Regulation covers the entire battery life cycle, from production to reuse and recycling, aiming explicitly at safety, sustainability, and enhancing competitiveness. The Regulation applies to various battery types, including waste portable batteries, electric vehicle batteries, industrial batteries, and starting, lighting, and ignition (“SLI“) batteries primarily found in vehicles and machinery. It also extends to batteries designed for lightweight modes of transport, such as electric bikes and e-scooters. The adaptation process […]

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19 Apr 2023

EU Parliament adopts key Fit for 55 laws including CBAM

On Tuesday, the EU Parliament unleashed a legislative game-changer in the global climate battle, adopting the world’s first carbon border tax (CBAM).  The MEPs also formally adopted the deals reached with the Council in December 2022 on several other critical pieces of legislation, including the closely-related revised EU’s Emissions Trading System (“EU ETS“) and a new Social Climate Fund (“SCF“), all a vital part of the EU’s Fit for 55 package, designed to help the bloc cut greenhouse-gas emissions by 55 percent by 2030 against a 1990 baseline. The CBAM complements the EU Emissions Trading System (ETS), addressing the phenomenon of […]

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12 Apr 2023

Gecić Law Announces Participation in Western Balkans ESG Summit

We are pleased to announce that Gecić Law will proudly join the Western Balkans ESG Summit in Tivat, the first major regional event dedicated to Environmental, Social, and Governance (ESG) topics.  The summit is scheduled for April 26 – 28, 2023, and will explore ways to promote sustainable development in the Western Balkans. At the summit, Gecić Law will share its widely recognized experience in ESG and sustainability matters as the first independent law firm in the region to launch a dedicated ESG legal practice.  This pioneering work and unrivaled EU law expertise offer a unique perspective, valuable in understanding […]

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31 Mar 2023

Gecić Law Earns Accolades in The Legal 500’s Green Guide: EMEA 2023

Gecić Law is proud to announce that it has been recognized as a Recommended Firm in The Legal 500 Green Guide: EMEA 2023, making it one of only two firms in the Western Balkans to make the ranking.  The guide recognizes law firms for contributing to the green transition by exploring their work for clients in connection with climate change mitigation and sustainability while highlighting their own internal best practices and green initiatives. Gecić Law was commended for launching its dedicated ESG practice, the region’s first by an independent law firm, and for its groundbreaking work in areas including environmental […]

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17 Jan 2023

The Dawn of Green Protectionism?

In her keynote speech at the 2023 World Economic Forum in Davos, Ursula von der Leyen, EU Commission President, outlined yesterday the main pillars of the EU’s Green Deal Industrial Plan to boost Europe’s leadership in green technology on its road to carbon neutrality.  “We know we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” said von der Leyen. As the plan’s regulatory pillar, she announced a new Net-zero Industry Act to support the “greatest industrial transformation of our times” and keep up with strongly incentivized programs […]

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29 Dec 2022

CBAM Final Deal – The World’s First Carbon Border Tariff

The European Union is fast-tracking the road to a greener future as EU institutions reach provisional agreements on the Carbon Border Adjustment Mechanism (“CBAM”) and the EU Emissions Trading System (“ETS”).  After round-the-clock negotiations between EU officials, the “Fit for 55” legislative package with the ultimate goal of reaching carbon neutrality by 2050 is now being finalized.  What are the implications for non-EU countries?   EU’s Climate Action Recognizing the threats of climate change, the European Union adopted a range of climate laws, which includes the ETS and the CBAM, as part of the revolutionary “Fit for 55” legislative package.  In contrast to the […]

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10 Nov 2022

COP 27 – All you need to know

The “Conference of the Parties,” known as “COP“, is an annual gathering of the nations that have ratified the United Nations Framework Convention on Climate Change (“UNFCCC“), the Kyoto Protocol, or the Paris Agreement. This year’s COP 27 is taking place in Sharm El-Sheikh, Egypt, and marks seven years since the Paris Agreement adoption at COP 21 and thirty years since UNFFCCC was adopted. The theme of this year’s COP is ‘Together for implementation ‘. COP 27 kicked off on November 8, 2022, and participants are ministers, world leaders and negotiators deciding how to combat climate change and all its effects collectively. Moreover, to […]

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25 Oct 2022

ESG: A New Tool in M&A

Intralinks recently published a report on Environmental, Social and Governance (“ESG “), which looks at ESG and how it gained prominence in European M&A. The main idea of the report is to demonstrate ESG’s impact on the M&A decision-making processes, supported with statistics to depict the impact intensity. The Intralinks survey shows that only 3% of the survey respondents were not concerned about ESG issues during their latest M&A transaction. In comparison, 41% of respondents said that the ESG drove their last transaction, and the remaining 56% stated that the ESG was not the primary motivator for their latest deal, but they considered […]

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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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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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03 Jun 2022

CBAM Proposal: The Wind of Change

In anticipation of the June 7 plenary session when the European Parliament will take on the CBAM proposal, we delve into the key ideas behind and the expected game-changing impact of the regulation on international trade.  In this edition of our CBAM series, find out more about how this wind of change may affect consumers, businesses and economies across the globe. Why is the EU introducing a new carbon pricing policy? As a new policy, the Carbon Border Adjustment Mechanism (“CBAM”) is being developed to work in conjunction with the EU Emission Trading System (“ETS”) – a cornerstone of the EU’s […]

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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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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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