Wedoany.com Report on Feb 11th, The Belgrade Stock Exchange recently announced that it will launch an innovative platform to connect capital markets in the Western Balkans, where domestic investors will have the opportunity to access foreign exchanges. The plan focuses on developing two key platforms: one for digital token trading and another specifically targeting the EU Carbon Border Adjustment Mechanism.
The EU Carbon Border Adjustment Mechanism officially took effect on January 1st, requiring EU companies to pay the corresponding carbon price under CBAM when importing aluminum, cement, electricity, steel, hydrogen, and fertilizers from non-EU countries. These costs are expected to be passed on to suppliers exporting to the EU.
Lazo Ostojić, CEO of the Belgrade Stock Exchange, stated: "Our goal is to establish a platform similar to the EU Emissions Trading System, enabling Serbian companies to offset their carbon dioxide emissions by purchasing carbon credits, thereby reducing the risk of additional costs when exporting to the EU." He believes that other companies in the region facing similar challenges will also be interested in this option.
Under the EU Emissions Trading System, companies need to obtain emission allowances matching their emissions. These allowances can be purchased at auctions, obtained for free, and traded on the open market. In response to CBAM, Serbia's "Law on Tax on Greenhouse Gas Emissions" and "Law on Tax on Imports of Carbon-Intensive Products" also came into effect simultaneously on January 1st, with both taxes set at 4 euros per tonne of CO2 equivalent.
The "Law on Tax on Greenhouse Gas Emissions" applies to companies that need to obtain permits for emissions from industrial production facilities. Currently, 50 companies have obtained such permits for their 92 factories. Ostojić also noted that the Belgrade Stock Exchange has switched to the Greek trading system OASIS and has initiated the process of connecting regional capital markets, with the possibility of joining the Euronext Group in the future. The group owns eight European stock exchanges.
