New legislation aimed at business transparency requires major operational changes, but the obligation does not affect all companies equally.
From the beginning of 2027, new legislation will take effect in Serbia, expanding the obligation to measure and publicly disclose ESG (Environmental, Social, Governance) data on environmental impact, human rights and ethical standards. However, contrary to frequent media headlines, this obligation does not apply to everyone. Under the law, direct submission of non-financial reports from 2027 is mandatory only for large legal entities and public-interest companies.
Transparency requirements are high. Large systems will be required to provide concrete, measurable and verifiable indicators confirmed by external audit, while general statements of social responsibility will become a thing of the past.
Small and medium-sized enterprises: Between legal exemption and customer pressure
Small and medium-sized enterprises in Serbia formally have no legal obligation to submit ESG reports directly to the state. However, it is a misconception that this wave will bypass them, because the pressure comes indirectly - through the supply chain.
Large domestic and European companies that are directly regulated are required to assess and report the environmental and social impact of their entire value chain. This means that major clients will require all suppliers and partners to provide exact data on emissions, waste, occupational safety and ethical procedures.
procedures. Small and medium-sized enterprises that do not have these data and adopted policies ready risk losing contracts with major partners, being eliminated from tenders, and facing more difficult access to favourable financing from banks that already widely apply ESG criteria when approving loans.
2026. g2026 as a key year for preparation
Building a sustainable-business system and structuring data takes time, changes to internal procedures and employee training. Companies that leave this process until the last moment will face sudden cost increases, operational errors and a loss of market competitiveness.
The current year, 2026, is therefore a crucial moment for small and medium-sized enterprises to secure their place in the modern market in time through self-assessment, the introduction of codes of conduct and the establishment of internal rules.
If you want to meet the requirements of major clients in time, our team offers expert training and the preparation of ESG reports and procedures tailored to your business.