UNDP hosts an event on CBAM and renewable energy

A New Era of Business in BiH: CBAM and Renewable Energy – Challenges and Opportunities

June 28, 2024

On the occasion of International Micro, Small, and Medium Enterprises (MSMEs) Day, an event titled "A New Era of Business in BiH: CBAM and Renewable Energy – Challenges and Opportunities" was held in Banja Luka.

The aim of this event is to involve representatives of micro, small, and medium enterprises in expert discussions about the challenges and opportunities presented by renewable energy sources and the recently adopted EU Carbon Border Adjustment Mechanism (CBAM) Regulation.

"Although the Carbon Border Adjustment Mechanism and the transition to renewable energy present significant challenges, they also offer synergistic opportunities for businesses in Bosnia and Herzegovina and a chance to build a greener and more sustainable future."

Vedran Pecikoza, Project Analyst at UNDP BiH

The event brought together experts, members of the academic community, representatives of relevant institutions in Bosnia and Herzegovina, international organizations, local companies, and other relevant institutions. Through a panel discussion, they shared their experiences and successful case studies.

"The CBAM mechanism is a significant challenge for BiH; however, what BiH has and can leverage to ease this process is substantial financial support and assistance from the EU, particularly in drafting the necessary legislation."

Boris Lubarda, Head of the Department for General Electric Power and Energy Efficiency, Ministry of Energy and Mining of RS

"We can also view CBAM as a motivation for the accelerated development of BiH, as adapting to these changes drives long-term sustainable development and can secure a competitive advantage for our companies in the European market."

Dr. Azrudin Husika, Professor at the Faculty of Mechanical Engineering, University of Sarajevo

This is the second in a series of three thematic events organized by the United Nations Development Programme (UNDP) in Bosnia and Herzegovina, as part of the Green Economic Development (GED) project funded by the Government of Sweden.

English