On 16 March, the second conference of the RE-SET SUMMIT 2023 on the economy was held in Belgrade. The event was traditionally organised by Adria Media Group, this time covering the topic of the Integrated National and Energy Climate Plan of the Republic of Serbia Until 2030 With a Vision Until 2050 (INECP).
The summit gathered numerous national and international experts coming from both the public and private sectors, as well as EU representatives and diplomats. They discussed the various prospects of the INECP, including energy security and renewable energy policies in the time of transition, organised within three panels.
The third panel was dedicated to the joint action investment models. The panelists were our Senior Partner Miloš Vučković, Dušan Vasiljević, an international expert in strategic planning and CEO at Western Balkans Consulting Global, Petar Maksimović, an energy expert, and Bojan Bogdanović, Principal of Energy Efficiency and Green Buildings, EBRD, while Mirjana Jovanović, the Energy, Climate, and Environment Program Manager at Belgrade Open School moderated the panel.
The panelists discussed the concepts of energy efficiency and energy poverty, and cooperation at the level of local communities and companies, with a special focus on the so-called just transition, a framework developed to encompass a range of social interventions needed to secure workers’ rights and livelihoods when economies are shifting to sustainable production. During this process, investing through joint actions proved to be the most suitable model.
Touching upon the principles of ecological design and the programs for the replacement of old household appliances, Miloš Vučković pointed out that it is necessary to adapt the public policy instruments to the target group, which in this case are the most vulnerable citizens affected by energy poverty. Money incentives turn out to be only a short-term solution to this problem, and we need to rethink the green transition on a continuous scale. To do so, it is important not only to see the big picture but also to take into account an individual perspective, in order to raise awareness of energy efficiency.
One of the most important steps in this direction is the concept of prosumers, a recently introduced but fast-developing category in the Serbian market. Furthermore, the private sector, through existing energy service companies (ESCos), has shown a great interest in this matter as well. Although for now, the ESCos are mainly cooperating with the public sector and local governments in Serbia, through public-private partnerships, invitations to tenders, etc., it is exactly towards the empowerment of individuals we need to take further actions, so that we can secure the energy transition process go smoothly.
Despite the initial resistance and market inertia, big developments in the field of renewables in Serbia have taken place since 2015. The investors increased their expectations, energy efficiency projects are being developed, and international institutions and local banks provide funding. Such a big interest in renewables in the private sector, followed by INECP, investments, energy transition, and various measures, can only contribute to the further development of a circular economy, showing Serbia has paved a good way toward a successful green transition and energy efficiency.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.