At the business forum titled “ESG 2.0: Sustainable Transformation in Business as an Opportunity for Bosnia and Herzegovina”, organized yesterday by Sparkasse Bank BiH at the Swissotel in Sarajevo, Bosnian business leaders discussed key challenges and opportunities posed by the inevitable transition to self-sustainable business models, klix.ba reports.
The forum gathered leading experts and representatives from the business community to address issues of green transition, investments in renewable energy sources, and the application of ESG (Environmental, Social, and Governance) principles in business operations.
Amir Softić, CEO of Sparkasse Bank BiH, highlighted the role of banks in leading changes towards ESG principles and responsible investment and financing.
“Sustainable transformation represents a great opportunity for economic progress in BiH, and the role of the financial sector is crucial in this. Banks, like the business sector, can support companies on their path to integrating ESG principles into their operations by adapting their business models. Moving from solely offering credit to stimulating credit demand is a shift in the economic paradigm that we need to seriously consider and translate into concrete actions,” said Softić.
Among the speakers was Renaud Meyer, UNDP Resident Representative for Bosnia and Herzegovina, who spoke about Bosnia and Herzegovina’s progress toward the UN Sustainable Development Goals and the country’s position in relation to the 2030 Agenda. Damir Vukotić, Deloitte CE South’s Lead Partner, provided an expert overview of the key aspects of ESG regulations and their impact on business. He spoke about the application and measurement of ESG criteria, emphasizing the importance of adapting business models to new sustainability requirements in order to maintain competitiveness in the market. Biljana Braithwaite, Director of Sustineri Partners, spoke about future perspectives through the lens of ESG standards and the importance of integrating sustainable practices into core business strategies as a necessary step towards responsible business.
“Our task is to help companies find a balance between investing in sustainable energy sources, reducing their carbon footprint, and ensuring economic sustainability. Through responsible financing and investment, as well as targeted support for industries vital to job creation such as startups, agriculture, and tourism, along with unique initiatives in financial literacy, which is crucial for the success of sustainable transformation, we will continue to strengthen the economy of Bosnia and Herzegovina,” said Amir Softić, CEO of Sparkasse Bank BiH.
The forum brought together about one hundred participants, including a large number of representatives from SME sector companies, who had the opportunity to gain new insights and hear experiences on implementing sustainable practices from top managers of large Bosnian corporations and innovative businesses, including ZIRA Group, the overall winner of the Business Leaders in Sustainable Development 2024 award presented by UNDP in BiH, as well as ALMA RAS, Aptha Corp., Hifa Petrol, Klas, GS-TMT, Steco Center Bijeljina, and Maja Halilović, a biodesigner.
Representatives from Finance in Motion BiH and the European Bank for Reconstruction and Development (EBRD) spoke about promoting sustainable development through their programs and financing.
The event provided a unique opportunity to exchange experiences and ideas on how Bosnian companies can effectively balance production costs, invest in sustainable energy sources, and operate in the EU market, while facing challenges and finding opportunities for growth.
The forum was supported by the Green for Growth Fund – Technical Assistance Facility through Finance in Motion in BiH, and funded by the European Union.
Sparkasse Bank BiH continues its mission of supporting Bosnian companies through continuous presentations of the latest business trends, education, and strengthening the capacities of domestic companies. The bank remains a strong advocate for improving the business environment through the application of ESG principles, responsible investment, and financing projects that contribute to the economic resilience and sustainability of Bosnia and Herzegovina.