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).

Former Moral Kinikoglu Pamukkale Kokenek Name Partner Sertac Kokenek has joined Norton Rose Fulbright Turkish affiliated firm Pekin Bayar Mizrahi as an Equity Partner.

In a significant development, a provisional agreement between the Council presidency and the European Parliament has set the stage for a proposed EU law targeting businesses involved in waste generation, operation, or disposal. The agreement, which took place late last year, reflects a commitment to stricter penalties for environmental crimes, doubling the number of offences from the soon-to-be-replaced Directive 2008/99/EC.

Large energy companies are taking measures to become green in order to meet targets to reduce carbon emissions. The main stakeholders – investors, customers, rating agencies, and regulators – are pushing energy companies to set more environmental, social, and governance goals publicly. For these companies, the “E” in ESG should be the foundation of their strategy.

In Hungary, adherence to regulatory requirements is pivotal for the operations of domestic legal entities or businesses. Recently, there have been discussions regarding the significance of possessing a domestic bank account as mandated by Hungarian law, and the implications for companies failing to meet these criteria.