Conference insights

Our first annual Conference: The ESG Shift: From Compliance to Culture brought together over 200 participants, including 37 panelists and 28 media representatives who closely followed the discussions.

The event reaffirmed the Foundation’s long-term mission to connect, educate, and empower stakeholders across the region, while also laying the groundwork for future initiatives that will foster sustainable and inclusive development in the Western Balkans.

Until our next gathering, we are pleased to share a short video recap* of the conference as well as key messages from all the panels with you.

*to watch video please press play

ESG Conference recap.mp4

Key messages from all panels:

•ESG is no longer a trend, but a strategic necessity and a cultural shift that shapes the long-term competitiveness of companies and the region.

•Sustainable transformation is not an option, but an obligation driven by climate risks, regulatory requirements, and the expectations of new generations.

•The time to act is now - companies must recognize ESG as an opportunity for growth, innovation, and responsible leadership.

•Effective data governance and the use of technological tools enable transparent reporting, accurate impact measurement, and better decision-making, accelerating compliance and unlocking new growth opportunities.

•The SME sector, in particular, requires education, which is why a new cycle of the ESG Academy has been announced (starting January 2026), providing knowledge and tools to improve business practices, with the option of online participation for attendees from across the region.

Exclusive Fireside Chat: From Words to Action - Regional Business Leaders on the Reality and Future of ESG

KEY MESSAGES:

•ESG standards have multidimensional significance: they reduce energy and waste costs, improve export opportunities to the EU, increase company valuations, and facilitate access to capital.

•Global capital and financial systems have sufficient liquidity to finance transition and green projects.

•A successful example was presented through the issuance of the first corporate green bond by Elixir Group.

•The costs of implementing ESG standards are negligible compared to future risks and opportunities.

Panel 1: Banks and ESG: Challenges and opportunities

KEY MESSAGES:

•The banking sector serves as an example of consistent application of ESG standards across all aspects of business operations, internal organization, and client support.

•The essence of ESG lies in building awareness and data-driven management systems, rather than focusing solely on emissions measurement.

•Small and medium-sized enterprises represent a particular challenge, as they often lack sufficient knowledge and financial capacity for the transition, making institutional support through education and incentives essential.

Panel 2: Cross-sector open dialogue on ESG: Hype or sustainable reality?

KEY MESSAGES:

•In the region, ESG has evolved from being a trend element to an integral part of business strategies.

•Today, ESG is becoming a matter of competitiveness, survival, and long-term company value, with increasing integration of AI.

•Large systems are already deeply engaged in the ESG transformation process.

•The main challenge for the coming period is to involve small and medium-sized enterprises in the transformation process and provide support for adapting to the new standards.

Panel 3: Navigating the ESG Landscape – Legal Framework and Corporate Impact

KEY MESSAGES:

•The implementation of the latest EU ESG regulations presents both a challenge and an opportunity for companies in the region.

•The legal framework is increasingly shaping corporate strategies and practices.

•Success depends on a proactive approach, transparency, and cooperation between the public and private sectors.

Firechat powered by Talks & Folks: Responsibility of a champion

KEY MESSAGES:

•The most successful teams focus on their own growth and discipline rather than on the competition.

•Pressure is seen as a privilege because it creates focus and energy, while failures shape authority and humility.

•The essence of leadership is inspiring others to believe in their own potential.

•“Team chemistry” depends on communication, commitment, and mutual respect, which is equally applicable in the business world.

•Teamwork, a shared vision, and consistency are key to achieving success.

Panel 4: How are we (not) preparing for the green transition in the labor market?

KEY MESSAGES:

•Without people, knowledge, skills, and new career pathways, there can be no green transition.

•The reality is that only 2% of large companies in Serbia report locally on ESG, green skills and reskilling are not systematically integrated into education or employment policies, and the HR sector is still often not seen as a key player in the ESG transition. Meanwhile, in both the private sector and public institutions, sustainability and employment remain largely separate worlds.

•It is essential to foster awareness and a culture of responsible business, where employees understand that sustainability is a strategic necessity, not just a trend.

Panel 5: Building trust: ESG’s role in corporate transformation

KEY MESSAGES:

•The green transition represents an opportunity for countries like Serbia to catch up on decades of global lag.

•The introduction of ESG regulations in Serbia will provide a framework for implementation and monitoring within companies. The significance and benefits of green energy will become tangible once relevant taxes and payments are introduced.

•ESG must become an integral part of business operations, and companies will implement it across all business segments in the coming years.

•Building trust requires authentic ESG commitment: people at the center of change, a strong governance framework, and transparent impact measurement that prevents greenwashing, strengthens reputation and stakeholder relationships, and unlocks access to sustainable financing.

Panel 6: Energy Transition in Serbia and Montenegro: Challenges, Reality, and Future

KEY MESSAGES:

•The energy transition is primarily a development opportunity, enabling the modernization and diversification of production, while strengthening regional energy security.

•Investments in renewable energy sources, alongside the diversification of energy supply, are outcomes of decarbonization processes and the pursuit of carbon neutrality.

•It is crucial that the transition to renewables is accompanied by the development of balancing capacities, smart grids, and energy storage systems, as well as modernization to ensure system stability.

•We must view the energy transition as a comprehensive technical project, not merely an investment endeavor.

As part of the conference, a ceremonial certificate award was held for participants of the first cycle of the ESG Academy, which was organized throughout 2025 by the Western Balkans ESG Foundation with the aim of strengthening participants through knowledge and connecting stakeholders across the region. A new cycle of the Academy will begin in the beginning of 2026.

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