Eco-management and audit scheme (EMAS) and its implementation in Serbia

Abstract

The way people are doing business are changing fast under pressures such as growing number of environmental concerns, public pressure, regulatory measures, demands of consumers and shareholders for environmentally friendly products and services, so it is becoming more and more important for organizations/companies to demonstrate sustainability of their investment strategies and operations. A management tool for companies and other organizations to evaluate, report and improve their environmental performance is eco-management and audit scheme (EMAS), regulated by Regulation (EC) No 1221/2009. Having in mind intentions of Serbia to join European Union (EU), as well as a fact that Regulation 1221/2009 allows participation in EMAS also for organizations in non EU member countries, it is quite obvious that EMAS implementation will create necessary conditions for more intensive participation of our country in all European processes. In this article, we present Serbian companies included in calculation of stock market index Belgrade Stock Exchange Index (Belex 15) and their stage in EMAS implementation. Research results shows at what stage of EMAS implementation are Serbian “blue chip” companies and future activities needed for them to apply this important EU regulation. Key words: Eco-management and Audit Scheme (EMAS), Regulation (EC) No.1221/2009, environmental accounting, environmental reports.