Photo: Novaston

The Novaston company plans and aligns Environmental, Social and Governance (ESG) activities with its general goals. They recently published a Guide to real estate development: an example of office space, which they worked on together with the law firm Gecić Law.

Mia Zečević, general director of the Novaston company, says that within the guide, an entire chapter is dedicated to ESG principles, their importance, and their application in the commercial real estate sector.

‘’The guide can be downloaded free of charge from our website, as well as from the website of the law office; it is available in both languages (Serbian and English). With this, we wanted to, as a socially responsible company, contribute to a better understanding of the ESG concept and principles and facilitate the entire process for investors when they decide to invest in business premises’’, Zečević points out.

On how she sees the role and development of ESG in this company as a wider business environment in the years to come, Mia Zečević says that ESG principles are no longer a matter of trend and choice. Still, their implementation in all business spheres is a key factor and a necessity for all companies. Soon it will be necessary for everyone who wants to do business with other companies in the EU market.


‘’All banks, especially European ones, see the implementation of these principles as imperative, which is also shown by the incentives they receive from the EU. This year, most banks will perform a screening – what is green in their portfolios, which projects meet ESG standards, which meet the requirements for obtaining an energy passport, which meets the standards for LEED and BREEAM certificates and for which categories. Those companies whose projects are not aligned with ESG standards will have a different risk assessment, and it will be more difficult for them to borrow, get a development loan or a development investment’’, explained Zečević.

As for the Novaston platform, they started working on a strategy to introduce ESG principles into business. This company primarily provides services, so they are already very much up to date with everything. Following the situation, they advise clients and investors on applying ESG principles, primarily in constructing or applying them within existing buildings.

On the one hand, Novaston’s role as a renowned company is to educate clients and employees, initiate initiatives, and point out the importance of applying all these principles in business to be sustainable and scalable.


Read the story in the new issue of the Energy portal Magazine RENEWABLE ENERGY SOURCES