Serbia
Photo by Ljubomir Žarković on Unsplash
Early steps on a green accession path
At the crossroads between Central and Southern Europe, the landlocked Balkan country of Serbia has emerged from a decade of violence and civil war during the 1990s as a upper-middle income country with a stable parliamentary democracy. Today the country boasts a well-developed services sector, good performance on social progress indicators, and universal health care and free primary and secondary education for all citizens; however, in common with many post-Communist states, environmental policies are relatively unambitious. If Serbia’s ambition to join the EU by 2025 is to be realised, genuine progress on sustainability and social inclusion will be essential.
Serbia’s transition towards a green economy is currently guided by the 2008 National Sustainable Development Strategy (Национална стратегија одрживог развоја), which covers the development of a knowledge-based economy, attaining social solidarity and caring for the environment.
However, the NSDS is now almost fifteen years old, lacks specificity and a clear sectoral strategy and features only modest targets. Likewise, Serbia’s National Renewable Energy Action Plan, passed in 2013, established weak renewables targets of 27% by 2020, and the country’s Paris Agreement pledge of a 9.8% cut in CO2 emissions by 2030 is similarly lacklustre.
With some 70% of Serbia’s electricity still coming from coal and ongoing state investments in mining and fossil-fired generation, even these modest targets are unlikely to be met on current trends. Indeed, the latest data indicates that the current share of renewables in the energy mix is barely 20%, less than it was in 2009.1 A new National Climate and Energy Plan has been mired in development for over two years, with the European Union concluding in 2020 that there is little political consensus in Serbia for climate action.
As such, Serbia is currently some way behind its European peers in the transition to a sustainable future. This is perhaps unsurprising given the social, political and economic chaos that followed the breakup of Yugoslavia in the early 1990s. Since the establishment of Serbian democracy in 2003, successive governments have prioritised modernisation, structural reform, attracting foreign investment and job creation over environmental concerns.
As part of its accession bid to join the European Union, Serbia has prepared plans to fundamentally reconfigure the economic structure of the country, including deep structural reforms in key economic sectors such as energy, transport telecommunications, agriculture and industry. While these plans are necessary – especially to address challenges around black markets and continuing gender disparities – environmental and sustainability concerns remain largely marginal.
Although it has yet to begin the chapter of EU membership negotiations that cover environmental protection, Serbia’s application is unlikely to be successful unless it can demonstrate genuine progress on green measures. There are some encouraging signs, with a commitment to circular economy one of five key national goals under the new Industrial Policy Strategy 2021-2030, and several new draft laws on green energy passed in March 2021. But if Serbia hopes to capstone its ascension from warring dictatorship to full EU member, a full-blooded policy commitment to a green and fair economy would be an excellent place to start.
Photo by Ljubomir Žarković on Unsplash
Policy Scores
Last updated 18 Dec 2025
Governance
National Green Economy Planning
Serbia now has a Law on Climate Change (2021) and officially adopted the Integrated National Energy and Climate Plan (2024) for the period up to 2030, with projections until 2050. The plan is complemented by the Green Agenda for Serbia (2021–2030), developed under the EU’s Green Agenda for the Western Balkans, and is similar to the EU's NECPs. It serves as the central green economy plan, coordinating energy, climate and economic policies, and contains commitments for 2030, including a 40.3% reduction in GHG emissions (compared to 1990) and a 33.6% share of renewables in gross final energy consumption. However, the plan lacks legally binding status for its intermediate targets and the net zero commitment for 2050.
Serbia now has a Law on Climate Change (2021) and officially adopted the Integrated National Energy and Climate Plan (2024) for the period up to 2030, with projections until 2050. The plan is complemented by the Green Agenda for Serbia (2021–2030), developed under the EU’s Green Agenda for the Western Balkans, and is similar to the EU's NECPs. It serves as the central green economy plan, coordinating energy, climate and economic policies, and contains commitments for 2030, including a 40.3% reduction in GHG emissions (compared to 1990) and a 33.6% share of renewables in gross final energy consumption. However, the plan lacks legally binding status for its intermediate targets and the net zero commitment for 2050.
Inclusive Corporate Governance
Serbia has established a national strategy and introduced mandatory standards in key areas, but lacks clear targets and mandatory enforcement. The Law on Gender Equality (2021) obligates companies with over 50 employees to adopt annual plans for improving gender equality, with a defined benchmark of a 40-50% balanced gender representation. The government is also aligning its legal framework with the EU's Corporate Sustainability Reporting Directive and the Gender Balance on Corporate Boards Directive. Employee representation on boards remains voluntary. Many Serbian firms, especially those engaging with EU value chains, are increasingly adopting voluntary ESG practices and reporting.
Serbia has established a national strategy and introduced mandatory standards in key areas, but lacks clear targets and mandatory enforcement. The Law on Gender Equality (2021) obligates companies with over 50 employees to adopt annual plans for improving gender equality, with a defined benchmark of a 40-50% balanced gender representation. The government is also aligning its legal framework with the EU's Corporate Sustainability Reporting Directive and the Gender Balance on Corporate Boards Directive. Employee representation on boards remains voluntary. Many Serbian firms, especially those engaging with EU value chains, are increasingly adopting voluntary ESG practices and reporting.
Participatory Policymaking
Serbia has made progress in strengthening participatory mechanisms and institutionalizing public consultations as part of its EU accession and Open Government Partnership (OGP) commitments. The Regulation on the Methodology of Public Policy Management, Policy and Regulatory Impact Assessment (adopted in 2019) remains the central mandate, prescribing mandatory consultations at all stages of drafting regulations and public documents. The eKonsultacije online platform provides open access for citizens, civil society and stakeholders to comment on draft legislation. The Guidelines for the Inclusion of Civil Society Organisations in Working Groups for Drafting Public Policy Documents (2020) have been strengthened. In 2024, Serbia adopted the Strategy for Creating an Enabling Environment for Civil Society Development 2024–2030, aimed at deepening the inclusion of vulnerable and marginalised groups in policymaking processes. The Gender Equality Law also requires gender impact assessments for public policy proposals. Despite these advances, consultation quality and full implementation and coverage remain uneven, and systematic social impact assessments for all vulnerable groups is not guaranteed.
Serbia has made progress in strengthening participatory mechanisms and institutionalizing public consultations as part of its EU accession and Open Government Partnership (OGP) commitments. The Regulation on the Methodology of Public Policy Management, Policy and Regulatory Impact Assessment (adopted in 2019) remains the central mandate, prescribing mandatory consultations at all stages of drafting regulations and public documents. The eKonsultacije online platform provides open access for citizens, civil society and stakeholders to comment on draft legislation. The Guidelines for the Inclusion of Civil Society Organisations in Working Groups for Drafting Public Policy Documents (2020) have been strengthened. In 2024, Serbia adopted the Strategy for Creating an Enabling Environment for Civil Society Development 2024–2030, aimed at deepening the inclusion of vulnerable and marginalised groups in policymaking processes. The Gender Equality Law also requires gender impact assessments for public policy proposals. Despite these advances, consultation quality and full implementation and coverage remain uneven, and systematic social impact assessments for all vulnerable groups is not guaranteed.
Beyond GDP
The National Framework for Sustainable Development Indicators (2023), developed by the Statistical Office of the Republic of Serbia, includes a growing set of sustainability and wellbeing indicators aligned with the UN SDGs and the EU Green Agenda for the Western Balkans. In parallel, the mentioned office has begun piloting natural capital accounts for forests, water resources and land use. The Development Plan of the Republic of Serbia 2021–2030 and the Green Agenda for Serbia (2021–2030) reference inclusive wellbeing and sustainability objectives, but GDP remains the dominant indicator guiding fiscal and economic policymaking.
The National Framework for Sustainable Development Indicators (2023), developed by the Statistical Office of the Republic of Serbia, includes a growing set of sustainability and wellbeing indicators aligned with the UN SDGs and the EU Green Agenda for the Western Balkans. In parallel, the mentioned office has begun piloting natural capital accounts for forests, water resources and land use. The Development Plan of the Republic of Serbia 2021–2030 and the Green Agenda for Serbia (2021–2030) reference inclusive wellbeing and sustainability objectives, but GDP remains the dominant indicator guiding fiscal and economic policymaking.
Finance
Green Finance & Banking
Serbia has moved ahead from limited engagement in green finance driven by the EU accession process and the Green Agenda for the Western Balkans. It has adopted a Sustainable Finance Framework, issuing green bonds and embedding sustainability criteria in its capital market instruments. The National Bank of Serbia already conducts stress testing, and in its 2024 Annual Financial Stability Report it features a special box on climate stress testing on the banking sector. However, the inclusion of environmental and social risk factors in those stress tests is still incipient and not mandatory.
Serbia has moved ahead from limited engagement in green finance driven by the EU accession process and the Green Agenda for the Western Balkans. It has adopted a Sustainable Finance Framework, issuing green bonds and embedding sustainability criteria in its capital market instruments. The National Bank of Serbia already conducts stress testing, and in its 2024 Annual Financial Stability Report it features a special box on climate stress testing on the banking sector. However, the inclusion of environmental and social risk factors in those stress tests is still incipient and not mandatory.
Greening Fiscal & Monetary Policy
Serbia has taken concrete steps in embedding environmental considerations into fiscal frameworks. These include the 2021 sovereign green bond issuance (€1 billion), followed by a US‑dollar ESG bond (€1.5 billion) in 2024, the establishment of a Green Bond Framework aligned with ICMA principles, and launching its first "Green Budget" in 2025, allocating money to environment-focused projects. Additionally, Serbia has secured two World Bank Green Transition loans (DPLs) in 2023 and 2025 to support green budget tagging and fiscal adjustments. Though climate risk stress-testing remains absent, these developments demonstrate a voluntary but structured fiscal green framework.
Serbia has taken concrete steps in embedding environmental considerations into fiscal frameworks. These include the 2021 sovereign green bond issuance (€1 billion), followed by a US‑dollar ESG bond (€1.5 billion) in 2024, the establishment of a Green Bond Framework aligned with ICMA principles, and launching its first "Green Budget" in 2025, allocating money to environment-focused projects. Additionally, Serbia has secured two World Bank Green Transition loans (DPLs) in 2023 and 2025 to support green budget tagging and fiscal adjustments. Though climate risk stress-testing remains absent, these developments demonstrate a voluntary but structured fiscal green framework.
Green Trade Practices
Serbia’s key trade frameworks are the EU–Serbia Stabilisation and Association Agreement, CEFTA, EFTA–Serbia FTA, UK–Serbia, Türkiye–Serbia, the EAEU arrangements, and the China–Serbia FTA. These agreements largely focus on goods liberalisation.
Serbia's approach to green trade is mostly shaped by the EU's Carbon Border Adjustment Mechanism (CBAM). As of September 2025, Serbia has not fully implemented a national carbon pricing scheme or a green taxonomy, but it is in the process of developing them. The Ministry of Mining and Energy is preparing an analysis on introducing a carbon pricing mechanism to protect its energy-intensive industries from the effects of CBAM. This strategic response is primarily a reaction to EU requirements rather than a proactive green trade policy. For instance, the other trade agreements beyond the EU, such as the Free Trade Agreement with China, do not contain the same level of environmental standards.
Serbia’s key trade frameworks are the EU–Serbia Stabilisation and Association Agreement, CEFTA, EFTA–Serbia FTA, UK–Serbia, Türkiye–Serbia, the EAEU arrangements, and the China–Serbia FTA. These agreements largely focus on goods liberalisation.
Serbia's approach to green trade is mostly shaped by the EU's Carbon Border Adjustment Mechanism (CBAM). As of September 2025, Serbia has not fully implemented a national carbon pricing scheme or a green taxonomy, but it is in the process of developing them. The Ministry of Mining and Energy is preparing an analysis on introducing a carbon pricing mechanism to protect its energy-intensive industries from the effects of CBAM. This strategic response is primarily a reaction to EU requirements rather than a proactive green trade policy. For instance, the other trade agreements beyond the EU, such as the Free Trade Agreement with China, do not contain the same level of environmental standards.
Pricing Carbon
Serbia is actively preparing for domestic carbon pricing mechanisms, especially to align with EU CBAM, and has issued some emissions licences, but it has not yet established a fully operational carbon tax or trading system with binding carbon budgets.
Serbia is actively preparing for domestic carbon pricing mechanisms, especially to align with EU CBAM, and has issued some emissions licences, but it has not yet established a fully operational carbon tax or trading system with binding carbon budgets.
Sectors
Cross-Sectoral Planning
Serbia continues aligning sectoral reforms with EU accession and the 2024–26 Economic Reform Programme. It adopted a national Energy Sector Development Strategy to 2040/2050, a National Energy and Climate Plan (NECP) in July 2024 with energy efficiency and emissions targets aligned with EU directives, and a Climate Change Adaptation Programme for 2023–2030. However, these initiatives exhibit limited integration across sectors, uneven ambition, and weak coordination.
Serbia continues aligning sectoral reforms with EU accession and the 2024–26 Economic Reform Programme. It adopted a national Energy Sector Development Strategy to 2040/2050, a National Energy and Climate Plan (NECP) in July 2024 with energy efficiency and emissions targets aligned with EU directives, and a Climate Change Adaptation Programme for 2023–2030. However, these initiatives exhibit limited integration across sectors, uneven ambition, and weak coordination.
Circular Economy
Serbia's circular economy policy is defined by its Circular Economy Development Programme for 2022-2024 (a new programme for 2025-2030 is being planned). The current plan includes some long-term goals and standards for material use, particularly in the waste management sector. For instance, in 2025, Serbia adopted a new Decree on the Packaging Waste Reduction Plan for 2025-2029, which sets goals for recycling and encourages citizens to sort their waste, but it primarily addresses end-of-life management rather than the full lifecycle approach. The country's targets are largely driven by EU accession requirements, such as the goal for municipal waste recycling of 65% by 2035.
The national policy on green public procurement is quite weak, and there is no official CMUR target or policy on critical transition minerals.
Serbia's circular economy policy is defined by its Circular Economy Development Programme for 2022-2024 (a new programme for 2025-2030 is being planned). The current plan includes some long-term goals and standards for material use, particularly in the waste management sector. For instance, in 2025, Serbia adopted a new Decree on the Packaging Waste Reduction Plan for 2025-2029, which sets goals for recycling and encourages citizens to sort their waste, but it primarily addresses end-of-life management rather than the full lifecycle approach. The country's targets are largely driven by EU accession requirements, such as the goal for municipal waste recycling of 65% by 2035.
The national policy on green public procurement is quite weak, and there is no official CMUR target or policy on critical transition minerals.
Green Transport & Mobility
Serbia's policy on green transport is in an early stage of development. The government has offered some subsidies for EVs, like purchase premiums of up to 5000$ for exclusively electric passenger cars. However, the budget for these subsidies is limited and often exhausted quickly.
A key barrier is the country's continued import of high-emission, used vehicles. Despite a formal Air Protection Program that proposed a ban on the import of vehicles with Euro 3 and Euro 4 engines, data shows that these old, polluting vehicles continue to enter the country in significant numbers. This policy gap counteracts any progress made in EV adoption.
There are no nationwide targets for the electrification of public or freight transport, nor is there a strategy to develop the charging infrastructure beyond main highways and larger cities.
Serbia's policy on green transport is in an early stage of development. The government has offered some subsidies for EVs, like purchase premiums of up to 5000$ for exclusively electric passenger cars. However, the budget for these subsidies is limited and often exhausted quickly.
A key barrier is the country's continued import of high-emission, used vehicles. Despite a formal Air Protection Program that proposed a ban on the import of vehicles with Euro 3 and Euro 4 engines, data shows that these old, polluting vehicles continue to enter the country in significant numbers. This policy gap counteracts any progress made in EV adoption.
There are no nationwide targets for the electrification of public or freight transport, nor is there a strategy to develop the charging infrastructure beyond main highways and larger cities.
Clean Energy
Serbia’s revised NECP (2024) sets binding sectoral targets: a moderate yet credible 33.6% renewables in final energy consumption by 2030 and up to 45% renewable electricity (~3.5 GW solar & wind additions). It aligns with the Energy Sector Development Strategy (2040/2050), which phases out coal, promotes pumped‑hydro storage, self-consumption, electric vehicles, and diversified RES deployment. Although electricity remains heavily coal-dependent (~58% in 2023), hydro + other RES reached 37%, and wind capacity grew from 0.5 GW to ~1 GW by late 2024.
Serbia’s revised NECP (2024) sets binding sectoral targets: a moderate yet credible 33.6% renewables in final energy consumption by 2030 and up to 45% renewable electricity (~3.5 GW solar & wind additions). It aligns with the Energy Sector Development Strategy (2040/2050), which phases out coal, promotes pumped‑hydro storage, self-consumption, electric vehicles, and diversified RES deployment. Although electricity remains heavily coal-dependent (~58% in 2023), hydro + other RES reached 37%, and wind capacity grew from 0.5 GW to ~1 GW by late 2024.
Just Transition
Green Job Creation
Serbia still lacks a national-level green jobs strategy or framework. There are no explicit plans, labor transition mechanisms or monitoring systems to promote green employment. Green skills and job data work began only recently, but initiatives remain fragmented and non-strategic.
Serbia still lacks a national-level green jobs strategy or framework. There are no explicit plans, labor transition mechanisms or monitoring systems to promote green employment. Green skills and job data work began only recently, but initiatives remain fragmented and non-strategic.
Just Transition Frameworks
The government formally incorporated the concept of a “just transition” in the Green Agenda for Serbia (2021–2030) and the Integrated National Energy and Climate Plan (INECP 2023–2030), both of which recognize the need to balance decarbonisation with social equity and economic resilience in coal-dependent regions such as Kolubara and Kostolac. The Law on Climate Change (2021) and the forthcoming Low-Carbon Development Strategy (2024 draft) also reference social inclusion and the protection of vulnerable groups during the transition process. In cooperation with the International Labour Organization (ILO) and the European Union, Serbia has initiated targeted projects such as the EU4Green Transition Programme and the ILO’s Green Jobs Initiative (2022–2025). The Ministry of Mining and Energy and the Ministry of Labour are developing sectoral roadmaps for coal phase-out and regional economic diversification. In 2025, the Government of Serbia adopted the Just Energy Transition Plan of the Republic of Serbia until 2030.
The government formally incorporated the concept of a “just transition” in the Green Agenda for Serbia (2021–2030) and the Integrated National Energy and Climate Plan (INECP 2023–2030), both of which recognize the need to balance decarbonisation with social equity and economic resilience in coal-dependent regions such as Kolubara and Kostolac. The Law on Climate Change (2021) and the forthcoming Low-Carbon Development Strategy (2024 draft) also reference social inclusion and the protection of vulnerable groups during the transition process. In cooperation with the International Labour Organization (ILO) and the European Union, Serbia has initiated targeted projects such as the EU4Green Transition Programme and the ILO’s Green Jobs Initiative (2022–2025). The Ministry of Mining and Energy and the Ministry of Labour are developing sectoral roadmaps for coal phase-out and regional economic diversification. In 2025, the Government of Serbia adopted the Just Energy Transition Plan of the Republic of Serbia until 2030.
Greening MSMEs & Social Enterprise
The Law on Social Entrepreneurship adopted in 2022 for the first time legally recognizes social enterprises and explicitly mentions their role in areas like environmental protection, circular economy, and social innovation.State policy is influenced by the EU accession process and international financial institutions. Programmes such as the EBRD and EU's SME Go Green (2024) provide up to €400 million in targeted financing, technical assistance and cashback grants specifically for MSMEs to invest in energy and resource-efficient technologies. However, many green MSME incentives depend on donor or EU programmes.
The Law on Social Entrepreneurship adopted in 2022 for the first time legally recognizes social enterprises and explicitly mentions their role in areas like environmental protection, circular economy, and social innovation.State policy is influenced by the EU accession process and international financial institutions. Programmes such as the EBRD and EU's SME Go Green (2024) provide up to €400 million in targeted financing, technical assistance and cashback grants specifically for MSMEs to invest in energy and resource-efficient technologies. However, many green MSME incentives depend on donor or EU programmes.
Inclusive Social Protection
Serbia continues to confront poverty and social exclusion, but has yet to implement any well-defined policy that merges social protection with sustainability goals. Although pilot projects exist, they are limited, disconnected, and typically driven by external agencies like the UN or NGOs, not the government.
Serbia continues to confront poverty and social exclusion, but has yet to implement any well-defined policy that merges social protection with sustainability goals. Although pilot projects exist, they are limited, disconnected, and typically driven by external agencies like the UN or NGOs, not the government.
Nature
Ocean & Land Conservation
Serbia, a landlocked country, has a partial strategy in place for terrestrial conservation. There is no National Strategy and Action Plan for biodiversity protection, as well as National strategy for sustainable use of natural resources and goods. However, the National Environmental Protection Programme is an attempt to solve the management of protected areas, as well as the protection of biodiversity. The Action plan for the implementation of the Green Agenda for the Western Balkans is also binding for the Republic of Serbia.
Serbia, a landlocked country, has a partial strategy in place for terrestrial conservation. There is no National Strategy and Action Plan for biodiversity protection, as well as National strategy for sustainable use of natural resources and goods. However, the National Environmental Protection Programme is an attempt to solve the management of protected areas, as well as the protection of biodiversity. The Action plan for the implementation of the Green Agenda for the Western Balkans is also binding for the Republic of Serbia.
Natural Capital Accounting
The government has not yet institutionalized accounts. However, the Statistical Office of the Republic of Serbia now compiles and publishes several core components of the System of Environmental-Economic Accounting (SEEA) Central Framework. Specifically, it releases statistics on monetary environmental accounts (like environmental taxes and expenditures for environmental protection) and physical environmental accounts (like water statistics and waste statistics). The adoption of the Low Carbon Development Strategy of the Republic of Serbia (2023-2030 with projections until 2050) and the National Adaptation Plan (NAP) involve inter-ministerial coordination and technical work, with policy oversight by the Ministries of Environmental Protection and Finance (which manages EU funding). Some kind of formal governance mechanism is in place to integrate environmental criteria into public expenditure decisions.
The government has not yet institutionalized accounts. However, the Statistical Office of the Republic of Serbia now compiles and publishes several core components of the System of Environmental-Economic Accounting (SEEA) Central Framework. Specifically, it releases statistics on monetary environmental accounts (like environmental taxes and expenditures for environmental protection) and physical environmental accounts (like water statistics and waste statistics). The adoption of the Low Carbon Development Strategy of the Republic of Serbia (2023-2030 with projections until 2050) and the National Adaptation Plan (NAP) involve inter-ministerial coordination and technical work, with policy oversight by the Ministries of Environmental Protection and Finance (which manages EU funding). Some kind of formal governance mechanism is in place to integrate environmental criteria into public expenditure decisions.
Sustainable Agriculture & Food Systems
Many measures and commitments to reduce food loss and waste, improve sustainable agricultural practices and promote healthier diets, remain sectoral, voluntary, or in pilot stages. Serbia is using its agricultural budget to address immediate crises, focusing on direct payments, which reflects the urgent need to support farmers' livelihoods rather than a systemic reform towards long-term sustainability. Subsidy reform remains partial, and incentives focus more on agricultural productivity, input subsidies, and rural development.
Many measures and commitments to reduce food loss and waste, improve sustainable agricultural practices and promote healthier diets, remain sectoral, voluntary, or in pilot stages. Serbia is using its agricultural budget to address immediate crises, focusing on direct payments, which reflects the urgent need to support farmers' livelihoods rather than a systemic reform towards long-term sustainability. Subsidy reform remains partial, and incentives focus more on agricultural productivity, input subsidies, and rural development.
Nature Finance
In 2025, the Serbian government announced the draft Law on Greenhouse Gas Emissions Tax and the Law on Carbon-Intensive Product Imports Tax, with plans for implementation in 2026. This marks a significant policy shift by formally introducing a carbon price (initially set at €4 per ton of CO2 equivalent) on large industrial emitters and certain imports. Simultaneously, Serbia is a participant in the UNDP-led Biodiversity Finance Initiative (BIOFIN), with work underway in 2025 to develop a National Biodiversity Finance Plan to mobilize resources to close the biodiversity finance gap. Also, international support funds pilot projects.
In 2025, the Serbian government announced the draft Law on Greenhouse Gas Emissions Tax and the Law on Carbon-Intensive Product Imports Tax, with plans for implementation in 2026. This marks a significant policy shift by formally introducing a carbon price (initially set at €4 per ton of CO2 equivalent) on large industrial emitters and certain imports. Simultaneously, Serbia is a participant in the UNDP-led Biodiversity Finance Initiative (BIOFIN), with work underway in 2025 to develop a National Biodiversity Finance Plan to mobilize resources to close the biodiversity finance gap. Also, international support funds pilot projects.
Green Recovery
Green Recovery Measures
The post-COVID recovery framework has evolved into structural programmes such as the Green Agenda for Serbia (2021–2030) and the Economic Reform Programme 2024–2026, both of which incorporate green transition objectives linked to EU accession and the Green Deal for the Western Balkans. The Integrated National Energy and Climate Plan (2023–2030) defines green investments as a key component of Serbia’s industrial policy, including incentives for decarbonisation, circular economy initiatives and job creation in clean energy sectors. However, the current funding is heavily reliant on international financial institutions and the EU, rather than being a significant % of domestic GDP.
The post-COVID recovery framework has evolved into structural programmes such as the Green Agenda for Serbia (2021–2030) and the Economic Reform Programme 2024–2026, both of which incorporate green transition objectives linked to EU accession and the Green Deal for the Western Balkans. The Integrated National Energy and Climate Plan (2023–2030) defines green investments as a key component of Serbia’s industrial policy, including incentives for decarbonisation, circular economy initiatives and job creation in clean energy sectors. However, the current funding is heavily reliant on international financial institutions and the EU, rather than being a significant % of domestic GDP.