The European market is entering a new phase where sustainability becomes a basic requirement for business, not an added value. The new set of EU rules changes the way companies operate and determines who will be able to keep their place in the market and who will fall behind.
First, the Corporate Sustainability Reporting Directive (CSRD) introduces the obligation for all major companies – and later smaller companies involved in supply chains – to report their environmental, social and governance impact in detail. The European Sustainability Reporting Standards (ESRS) prescribe uniform rules for how these reports are prepared, thereby introducing order and comparability among companies across the EU.
In parallel, the Carbon Border Adjustment Mechanism (CBAM) introduces a CO₂ price for goods entering the EU. This means that producers outside the EU will no longer be able to maintain competitiveness if they use dirtier technologies, as their products will become more expensive on the European market.
Combined, these rules clearly distinguish companies that adapt to new requirements from those that continue to operate according to old standards. Those who accept sustainable business more quickly find it easier to gain customers, investments and market confidence.
This is a deep transformation of business – not another administrative obligation. Sustainable models are becoming the new normal, and companies that realize this in time gain an advantage in an increasingly competitive European environment.
The ESG Academy of the Chamber of Commerce of Republika Srpska was launched to turn this shift towards sustainable business into practice – to turn European requirements and standards into a set of small, feasible steps that can be applied immediately, in operations, procedures and reports. The program provides clear guidance through regulation and a concrete plan that improves performance in both the balance sheet and market reputation.
ESG Academy was launched within the project “Digitally Sustainable Green transition of SMEs – DiGreenSMEs”, with the financial support of the EU and the Government of Germany (BMZ), which is implemented by GIZ in cooperation with partners. Thus, the systemic support of the EU, BMZ and GIZ is directly translated into knowledge, tools and processes in enterprises.
The program is structured through four two-day modules covering the key pillars of the ESG: introduction and regulatory framework, environment (E), social aspect (S) and governance (G). The Academy is held from November to December 2025 in the premises of the Chamber of Commerce of Republika Srpska, and participation is free of charge. Participation of experts from the renowned company KPMG, with many years of experience in the application of ESG standards, adds value to the Academy.
“Our mission is to support companies in the process of green and digital transformation, and ESG principles are the basis for achieving these goals,” says Nikolina Dorontić Alibabić of the Chamber of Commerce of Republika Srpska. ESG Academy, she points out, arose from the need to offer concrete, applicable support in understanding and introducing sustainable business, because it is “crucial for the future competitiveness of the domestic economy”. There is a lot of interest, with applications from different sectors – from companies that are just discovering ESG, to those that are already preparing the first reports.
KPMG: from large requests to small, feasible steps
Lecturers from the international audit company KPMG (Klynveld Peat Marwick Goerdeler) B-H d.o.o. Sarajevo, convert European requirements into good practices, procedures and work patterns that SMEs can apply immediately. “In BiH, ESG awareness is gradually rising, but it is still at different levels depending on the size of the company and the sector,” says Mahir Mešić. Large companies already see ESG as a strategic tool for reputation, access to finance and risk reduction, while many smaller enterprises still see it as an obligation rather than an opportunity.
The most common challenges are the lack of time, resources and knowledge on how to get started, the absence of a clearly defined regulatory framework in BiH and the perception that ESG activities are expensive. “That is why it is crucial to start from smaller, achievable steps and build the system gradually,” Mešić emphasizes. The format of the Academy is exactly that: first to understand the “what” and the “why”, and then the “how” – from measurement to reporting.
In the coming years, he adds, preference will be given to firms that develop these competencies earlier, as the market and EU partners are already looking for evidence of sustainable business. Continuous education and exchange of practical experience is crucial so that managers and employees understand that ESG is not just a report, but an opportunity to strengthen competitiveness and long-term resilience.
The voice of industry: from understanding to practical application
The true value of the Academy is seen in how participants apply it in their companies.
At Vendom d.o.o. Laktaši, architect and project manager Jelena Mihajlović works daily on planning, designing, digitizing processes and preparing CBAM reports. “The academy is very useful and gives a concrete insight into how ESG works in practice”, she says, stressing the importance of linking sustainability with business strategy and decision-making. Vendom is already doing CBAM reports, introducing digital monitoring of work orders and planning a solar power plant and exhaust systems for CO₂ collection. The acquired knowledge will help them consolidate all this into a broader ESG strategy and establish the basis for reporting
At Mikroelektronika a.d. Banja Luka, ecologist Marko Novalušić is attending the Academy with the aim of advancing the company towards green transition and Carbon Zero operations. They have already installed a solar power plant, launched a project of park greening with rare tree species, and the next focus is energy efficiency. “We also need institutional support because green projects are expensive. The transition should be gradual, in order for firms to adapt to specific business conditions”, he emphasizes.
At Elnos Group Banja Luka, where Dragana Nešković Markić works on environmental protection and occupational health and safety, the motive for applying was a substantive, multimodal program. “In other lectures, the topic was covered too briefly to gain practical knowledge. Here we go through the regulatory framework in detail, the reasons for reporting and the preparation of the report itself”, she says. Although they have not yet done an ESG report, they are working on preparing and collecting data for the entire group and expect that after the Academy, the process will be much easier and more professional.
A glance into the future: ESG as an investment, not an expense
ESG Academy is not a one-time event, but the beginning of the next phase of change. The Chamber of Commerce of Republika Srpska announces that at the beginning of 2026, within the DiGreenSMEs project, a practical support program for SMEs will follow, which will include consulting support and support in the implementation of digital solutions in the green transition process. Priority will be given to companies whose representatives participate in the ESG Academy.
The Academy is a driver of long-term change of business culture in BiH. The interest from the companies shows that sustainability awareness has become an integral part of business strategy and that this trend will continue, as markets and partners from the EU increasingly require evidence of sustainable business practices.
“The message we want to send is that sustainable business is not an expense, but an investment in the future. ESG principles bring a new culture of business – one that combines innovation, responsibility and competitiveness”, representatives of the Chamber of Commerce of Republika Srpska said. With the support of the EU, BMZ and GIZ, through initiatives such as the ESG Academy, the economies of Republika Srpska and Bosnia and Herzegovina not only respond to market demands, but actively build a more resilient, competitive and sustainable future for generations to come.
