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The Western Balkans ESG Foundation is the 1st non-profit organization solely dedicated to ESG in this region, headquartered in Belgrade, Serbia.

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A low carbon website. Setting the standard for sustainability in the Western Balkans.

About us

The Foundation strives to incorporate sustainability targets into businesses and public policy, as well as contribute to transparent reporting and education.

The WB ESG Foundation has unique resources and expertise, including scholars, top-notch specialists, and experienced professionals, collaborating to guide the Western Balkans towards sustainability.

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Mission & vision

The Western Balkans ESG Foundation aims to become the leading voice for sustainable integration in everyday business, public policy, and local communities. While advocating for equal opportunities, transparent reporting and equitable communication, we strive to help drive countries’ economies towards sustainable transitions.

The WB ESG Foundation serves as a competence center where all stakeholders can delve into the core of ESG requirements and opportunities. It aims to be the ultimate hub for connecting Western Balkans leaders, businesses, and academia, fostering ESG development, empowering education, and promoting professional growth.

Founders & Board of Directors

Strategic Advisors

Advisory Members

Founders of the WB ESG Foundation are sole members of the Board of Directors.

Milena Mićanović

Milena Mićanović is experienced professional in the financial industry, with focus on ESG, business development, access to finance, marketing, online sales, CX, corporate affairs, PR and communications, crisis management, CSR and sustainable business. Commitment to responsible business, green transition and execution of ESG principles were on several occasions awarded and recognized. She has developed successful and award-winning projects in the field of socially responsible business, brand development and communication.

In her professional career, Milena devoted herself to corporate affairs, business development models and financing approaches, as well as cooperation with the start-up community, which she continues to nurture today.

Before founding the Western Balkans ESG Foundation, Milena was director for Communications and Public affairs in OTP banka Srbija, one of the leading financial institutions in Serbia, and previously she was in charge of setting up and running the Innovation Fund as a Deputy Managing Director for international cooperation and financing, while her professional career started in M&A financial advisory industry. By education Milena is Bachelor of Laws with MBA.

Tatjana Papić

Tatjana Papić (LL.B. Belgrade, LL.M. Connecticut, PhD Union Belgrade) is a professor of International Law and International Human Rights Law at the Union University Belgrade Law School and a visiting research fellow at the University of Reading School of Law (UK) and the Center for Law and Pluralism of the University Milano-Bicocca (Italy).

She is an expert in curriculum development, legal obligations reporting, and has extensive teaching experience, both in Europe and the US. Tatjana was a Visiting Professor at the University of Münster Faculty of Law and the Washington and Lee University School of Law, as well as a Senior Grotius Research Scholar at the University of Michigan Law School.

Tatjana was also a consultant for UNDP, CoE, OSCE and FRA – EU Fundamental Rights Agency, and provided expert legal advice in different investment arbitrations. Before joining the Union Law Belgrade, Tatjana was a head of the legal department of the Belgrade Centre for Human Rights: the chief editor of the annual human rights reports and in charge of overseeing all legal activities of the Centre, fundraising and legal training curriculum development.

Vojislav Lazarević

Vojislav Lazarević is the Chairman of the Executive board of Addiko bank Serbia since 2018.

In his professional career, Vojislav held several C level positions in the banking industry. Before joining Addiko bank, he was the President of the Executive Board and General Director at Piraeus Bank in Belgrade, managing the bank's strategic and organizational activities. In the period from 2009 to 2016, he was a member of the Executive Board of Vojvodjanska banka NBG Group, in charge for the corporate business, financial markets, brokerage and financial consulting.

Previously, Vojislav gained diverse range of banking experience as deputy director and Executive board member in NBG bank in Serbia overseeing investment banking and financial markets, retail and corporate business and business development. His career started in Societe Generale bank in Athens on currency trading on the interbank market. He earned a diploma in the field of business administration, accounting and finance sector from Deree College, Athens, Greece, and then a master's degree in economic sciences from Union University in Belgrade.

Dušan Basalo

Dušan Basalo is the founder of several companies in the field of Organization and People Development: Talks and Folks, Atria Group, Generation Zeal.

With international experience and large number of complex projects for top tier companies, Dusan brings amazing insights into Social and Governance areas and strategies that organizations should implement in order to get high level results, both for themselves and for the society Through one of his companies, Talks and Folks, which is a leading public speaking managerial agency for the most successful experts and leaders from different areas, Dusan builds an inspiring network of amazing people that have the possibility to influence society, especially the business community towards good practices in ESG area.

Dusan is a member of the Board of directors of the Serbian Association of Managers for the last five years and the creator of the SAM (Serbian Association of managers) mentoring program for the last seven years, as well as the SAM Academy.

Strategic Academic Advisor

Dr. Aleksandra Čavoški

Dr. Aleksandra Čavoški joined Birmingham Law School University of Birmingham in 2012. Previously, she was a Professor at Union University School of Law in Belgrade. Aleksandra also worked as a special advisor in the Ministry of Justice of Serbia.

Professor Aleksandra Čavoški’s research interests are in the field of environmental law, EU law and energy law, including certain aspects of public international law. Her research agenda is inter-disciplinary and explores the intersection of law and other disciplines, in particular politics, science, public policy and language. Aleksandra is the College of Arts and Law Director of Global Engagement. She is the editor-in-chief of the journal Environmental Law Review.

Aleksandra Čavoški is also a part of the Birmingham Plastics Network, an interdisciplinary team of more than 40 academics working together to shape the fate and sustainable future of plastics. This unique team brings together chemists, environmental scientists, engineers, philosophers, linguists, economists, artists, writers, lawyers, and experts in many other fields, to holistically address the global plastics problem.

Strategic Communications Advisor

Kaja Grujić

Kaja Grujić is a sustainable communication consultant, filmmaker, and climate advocate, whose work is dedicated to reshaping the narrative around sustainability.

With a multidisciplinary background in film, political science, and sustainable fashion she completed the Dual BA program at Sciences Po Paris and Columbia University, followed by the MA Fashion Futures course at the London College of Fashion. This multi-disciplinary foundation laid the groundwork for her exploration of the potent intersection between art and change-making.

Deeply passionate about developing narratives that pushes the boundaries of climate-focused storytelling, Kaja has produced a variety of creative projects. Her MA thesis film, Entangled, has been screened at multiple international film festivals and galleries, including the Creative Climate Awards in New York, where it won the Audience Award. As an art director and creative producer, she also worked on fashion billboard and social media campaigns pushing the boundaries of what sustainable fashion can look like. She is eager to continue developing her creative practice and producing stories rooted in regenerative cultures and climate optimism.

At Advisory Board we are gathering scholars, experts and prominent professionals of high integrity and exceptionally valuable network who can help us in creating the ESG community.

Countries

Serbia, Montenegro, Croatia, North Macedonia, Bosnia and Herzegovina, Slovenia, Albania, Greece, Hungary

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Why now why us

In today’s world environmental, social, and governance (ESG) standards are imperative in running any business.

(E)nvironmental standards concern businesses’ impact on the environment, (S)ocial their impact on society, while (G)overnance refer to how the business is directed and controlled. They jointly serve to evaluate sustainability of business.

The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet. At its heart are the 17 Sustainable Development Goals (SDGs), which embody the ESG principles.

On the other hand, the European Union (EU) is at the forefront of the transformation towards more sustainable future in Europe. It adopted different directives and regulations to guide the EU economies to meet 2020 European Green Deal objectives, creating a clear framework for the concept of sustainability, by defining criteria when enterprises, investors, and policymakers are operating sustainably. These criteria are relevant not only for EU companies, but also relevant for those who are doing business with them.

Moreover, incorporating ESG principles becomes imperative in securing foreign investments, as investors are progressively more taking into consideration ESG standards when deciding where to invest. It is estimated that the ESG investing will double by 2025, to reach US$53 trillion by 2025.

Finally, consumers are becoming increasingly aware the importance of sustainability, taking into consideration what ESG standards address, when deciding on what to spend their money.

Here is an overview of ESG related challenges relevant for all business:

  • Pressure – Stakeholders, including regulators, investors and customers expect compliance of internal acts and business strategies with the ESG standards followed by transparent reporting.
  • Reporting & Data management – Proper collection and use of data is paramount, in order to meet both investors and regulatory requirements on ESG reporting.
  • Risk implications – A new set of risks for businesses and their operations in relation with ESG (reputation, supply chain management, transition to net zero, reporting etc.), resulting in advanced risk transfer products and financing products.
  • New business models financing – New business opportunities as a result of emerged industries and eco systems, in need for sustainable financing and attracting new customers.
  • CO2 reduction – Decarbonization underway with households and businesses transitioning to new operating models (renewable energy, water efficiency, circular economy, consumer habits).
  • Just Transition – Ensuring that substantial benefits of the green economy transition are widely and equitably shared.

Services

The Western Balkans ESG Foundation offers wide range of services including education, reporting, certification, communication, PR and networking.

Education

Reporting

Certification

Communication and Networking

A public forum educating businesses and civil society on sustainability topics to create greater awareness in the region. The WB ESG Foundation offers:

Expertise building in the application of the ESG principles in businesses.

Competence building in applying EU regulations for the implementation of the European Green Deal in the context of the Western Balkans’ countries.

ESG e-learning platform as a knowledge tool, enabling members to use all the existing professional, research and academia material which shall be daily serviced and updated by the Foundation>

Curriculum development on ESG for high education institutions.

Up to date information on state of play in the field of ESG in its monthly, quarterly, yearly newsletters.
The WB ESG Foundation provides expertise and tools for ESG, sustainability and non-financial reporting compliant as required by national and EU regulations.
With the purpose of creating a framework for enabling tangible ESG targets and transparent reporting, the WB ESG Foundation will develop certification system for business.
  • Developing innovative media strategies
  • Implementing media strategies
  • Connecting businesses with local governments and communities
  • Organising conferences, workshops, webinars and roundtables to connect business, civil society, local governments and media

Membership

Patron members:

Leading companies from various industries, international financial institutions and international organizations. The ones setting the standard for sustainability and leading by example.

Regular members:

Leading companies from various industries.

Associate members:

Civil society, academia and selected professional media.

Contact us

For more information please contact us.