TSG Lawyers on the panel “Is it possible to do business outside ESG principles?”

The IV Regional Conference

“Risks of the New Age – Sustainability and Resilience”


organized by the Be Risk Protected platform was held in Belgrade, at the Hyatt Hotel on 1 June 2023.

The eyes of the corporate world today are turned towards ESG goals (Environmental, Social, Governance). It is difficult to imagine, both in the near future and even today, responsible companies that do not direct their activities towards nature protection, care for people and high management standards.

The conference gathered a large number of participants – from company top management, ESG/CSR managers, risk managers, HR managers to strategic and corporate communications managers.

The conference discussed, among other things, the fate of companies that operate outside of ESG principles, setting up a valid ESG strategy, cyber security and resilience with the aid of artificial intelligence, financial protection from cyber risks, as well as how to maintain liquidity and operate smoothly in turbulent times.

The second part of the Conference was dedicated to sustainable business in an unsustainable environment and how to actually reconcile ESG requirements with a global business environment characterized by great variety of risks. Also, participants discussed how to preserve the mental health of employees.

TSG Managing Partner Ljubica Tomić participated in the panel “What is the fate of those who continue to do business outside the ESG principles of sustainability” together with Nikola Đukić (president of the IO, UNIQA non-life insurance), Sonja Miladinovski (director for risk management framework and ESG risk coordination, OTP bank), Leo Pandžić (Director of the Directorate for Sustainable Development, DDOR Insurance) and Jasmina Pešović (Manager of Quality and Operational Sustainability, Bambi).

The panel discussed the attitude of customers towards ESG policies of companies, whether it is possible to do business in Serbia without ESG principles even though they are not part of domestic regulations, how much foreign partners and investors take into account ESG principles when choosing their partners in Serbia, as well as what the future of credit financing, bank guarantees and other banking products in the context of ESG verification of companies. Ljubica Tomić contributed to the lively discussion by presenting ESG legal framework for doing business with Serbia, Germany and EU. Examples from German ESG legal framework and current business practice provided important contribution to discussion, particularly for Serbian companies, bearing in mind the importance of Serbian-German business relations.

TSG Lawyers are proud partners of this year’s Regional Conference and we congratulate the organizing team on a great event.

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Translation: Balša Stevanović

TSG Lawyers