Vedran Kopilović, a Managing Associate at Kinstellar's Zagreb office, participated in a virtual roundtable to discuss the latest in ESG developments with a focus on green financing—its regional and local drivers and roadblocks, its impact on non-financial reporting, and what it all means for the legal profession. The event took place on 12 July 2022 and was organised by CEE Legal Matters and moderated by CEE Legal Matters Managing Editor, Radu Cotarcea.
Vedran highlighted that while the legal framework is solid on paper, "the reality of inflation, the war in Ukraine, and even the pandemic have created setbacks." He went on to explain that, "a certain amount of sustainability-linked loans were offered by commercial banks in Croatia, closely linked to ESG factors," and that the Croatian Bank for Reconstruction and Development has also initiated a green financing program for entrepreneurs.
Vedran encouraged investors to start "reshaping their thinking in terms of the positive impacts of a sustainable economy and green financing," but pointed out that, "it's no good to push people or companies to go green." He concluded that, "we should rather incentivise them to change their way of doing business, by using the available legal framework and tools."
You can listen the CEE Legal Matters podcast on Spotify or read the article published in Issue 9.7 of the CEE Legal Matters Magazine.