We are eager to support the ESG Adria Summit 2024, and regional gender empowerment initiatives. Good ESG practices are essential for risk management, market access, cost reduction, and strengthening stakeholder relations. Looking forward to driving sustainable growth in the region.

Gender equality is important in business. There are many studies that show it leads to happier employees, a better working environment, and, best of all, companies become more profitable.

It was an honour to be at this incredible event and have a chance to share ideas with participants.

We have not reached the peak CO2 emissions. The current climate scoreboard shows us that we are dangerously approaching the limit of 1.5°C global warming, perceived as the globally safe limit. If we want to reach Net Zero, we need to decarbonise, first of all, the power generation sector, then transportation, and also industrial energy consumption.

The Western Balkans ESG Summit is crucial at this moment. It marks a shift from voluntary compliance to mandatory due diligence. Emphasising long-term sustainability, it is a platform to foster a mentality shift in businesses, meeting consumer expectations, investor demands, and upcoming legal requirements.

Key industries where we know what to do and where we can make changes in terms of sustainable financing are energy, real estate, and transportation. Approximately 82% of the money needs to be spent in Europe and this region in these 3 industries to reach net zero over the next 30 years.

By using artificial intelligence and advanced data analytics to predict the demand and usage of energy, and then reduce energy waste for both commercial and industrial buildings, we can optimize energy consumption.

When considering ESG factors, all of us share the same needs: a low-carbon environment, efficient resources, a sustainable economy, and an inclusive society. A robust banking sector is important for the smooth transition of the overall economy toward the ESG environment, as financial institutions have a key role in managing risk and raising funds for sustainable projects.

The Western Balkans ESG Summit demonstrated how important the cooperation and joint action of companies, governments, investors, innovators, academia, and the wider community is in order to achieve this goal. I congratulate the organisers on this exceptional initiative, which the Government of Montenegro supported with pleasure.

The ESG Summit is a leading regional event dedicated to sustainable development and responsible corporate governance. As we grow, our commitment to protecting the environment, reducing greenhouse gas emissions and preserving local marine species, these responsibilities become guiding principles in our mission.

One of the persistent challenges for women still is the presence of stereotypes and unconscious biases in business. In order to break these barriers, we all need synergies, we all need to act on individual, organisational, and on multiple other levels, and we all need to address challenges when we come across them.

Data has shown that due to the multiple crises, we have seen reversals in some of the achievements of gender equality in business, such as pay equality, social inclusion, and opportunities for women. One-third of women in our region are not working because of the lack of the infrastructure that can support them in their careers.

Expectations are great as the new energy is here. Energy transition has to be just and include all relevant stakeholders — it is not just the state that needs to take the action, but also the investors, the NGOs, the institutes, the faculties, and the citizens — the system of the whole country should be involved.

I firmly support the ESG Summit as a regional platform that strengthens our connections because problems and obstacles are common to all countries in the region. Therefore, learning from each other, exchanging experiences, practices, and approaches leads to the overall progress of our societies.

ESG is now front of mind for financial institutions worldwide, but regional disparities still exist. It is essential that professionals across the industry, and across borders, cooperate to achieve ESG and sustainability goals.

ESG is not just a nice topic to talk about. It is a complex problem that we should all jointly do something about. Those companies and businesses that are treating ESG as a PR strategy and marketing tool should reconsider their approach as soon as possible, because consumers are savvy. They easily recognise greenwashing, and they are vocal about it.