Since early 2024, Hungarian legislative efforts have brought about several updates to consumer protection regulations. Ranging from novelties in consumer complaints and related processes, increased consumer protections fines, expanded rights of the consumer protection and competition authority to an unexpected obligation imposed on e-commerce providers to include the local postal delivery provider as a delivery option, changes to the sector have been diverse.

One of the significant questions concerning ESG issues is the cost of transitioning to a more sustainable business environment. Will it result in increased financing costs and restricted access to new borrowing, or will it, on the contrary, lead to the development of new market segments and gradual change? While we cannot provide definitive answers to these questions, in this article, we will examine five ESG drivers and regulatory changes that will be pivotal in 2024. From the introduction of the New Green Asset Ratio to the Corporate Sustainability Due Diligence Directive (CSDDD/CS3D), we will explore the conditions associated with these new requirements and the potential penalties for non-compliance.

Today, more and more companies are trying to convince consumers with the pretence of a sustainable future and environmental awareness. However, in many cases, there is no real responsibility behind such marketing activities, which are simply intended as an effective advertising ploy to make green claims.

The new provisions on compulsory environmental insurance entered into force on 1 January 2024 through the modification of the Waste and a new Government Decree.

Gecic Law, working with Shibolet & Co, has advised the Paskal Group on "the successful submission of the first CBAM reports from Israel in accordance with the EU’s new Carbon Border Adjustment Mechanism Regulation."

Looking back at 2023, we witnessed important developments in the legal framework for environmental protection (in the broad sense).