Tivat, 27 April 2023 (MIA) - A new chapter on the path to sustainable development in the Western Balkans has been opened, and the path to more responsible and more ecological operations has begun, said participants at the opening of the Western Balkans ESG Summit, which is the largest regional event dedicated to Environmental, Social, and Governance (ESG) topics.

The Summit is organized by Sustineri Partners, a consultancy specializing in ESG advisory, and Porto Montenegro, a marina and real estate development set within Boka Kotorska. It is convened in partnership with the Government of Montenegro and Bloomberg Adria.

The Western Balkans ESG Summit was officially opened by the newly elected President of Montenegro, Jakov Milatović. He pointed out that the green agenda and meeting environmental standards are among the priorities in the process of accession to the European Union.

"For a country to be attractive to investors, it must be competitive, well-governed, open and inclusive, as well as green. I sincerely believe that the implementation of standards related to environmental protection, social responsibility and governance is key to the long-term economic stability and prosperity of Montenegro and the Western Balkans. Compliance with ESG standards will improve transparency and accountability of companies, which will attract foreign investors, increase the level of trade, reduce unemployment," Milatović said. 

He stressed that the path to sustainable future is not easy, but it is necessary for the well-being of the planet and the future generations. 

"Let's continue building bridges for a stable and integrated region, strengthen our regional cooperation on the EU integration path," said Milatović. 

CEO and Founding Partner at Sustineri Partners, Biljana Braithwaite, said the Summit is a turning point in the dialogue on the application of ESG standards in the region.

"We brought together more than 450 participants, representatives of 150 companies from the entire region and beyond, who showed their willingness to follow new standards and modern practice in managing their businesses. With speakers from around the world, leading experts, we can change the way we talk about investment, how we look at the responsibility of enterprises to the communities in which they operate and what could be the comparative advantages of our region in terms of investment in the future. Fair business, i.e. doing business on a sound basis, can really change the image of the Western Balkans and make it a desirable destination for responsible investment," said Braithwaite. 

David Margason, Managing Director of Porto Montenegro, welcomed participants in the Summit, noting that the marina has shown that development, investment in real estate and the creation of new tourist facilities can be made in harmony with the community, the environment and thinking about the future. For this reason, Porto Montenegro wants to become a key gathering place in the region where environmental standards and responsible operations will be discussed. 

Montenegrin Minister of Economic Development and Tourism, Goran Đurović, presented at a press briefing steps taken by Montenegro on the path to adopting environment and good governance standards. 

The OTP Group is the Western Balkans ESG Summit's platinum partner. Head of the OTP Group's Green Program Directorate, Gergely Pókos, said the company will do everything to continue contributing to the development of sustainable investments in the region.  

The Wstern Balkjans ESG Summit will feature keynote presentations and interactive panel discussions on critical ESG themes – sustainable finance, green transition, and green innovation. Attendees will further have an opportunity to learn about the most forward-thinking technologies and future business models and join focused workshops on emerging sustainability regulations or standards and tools for the best ESG business performance. The Summit will close on Friday with an address by Montenegrin Prime Minister Dritan Abazović. 

Photo: MIA