Montenegro is committed to sustainable development, inclusive growth, and aligning with the European agenda, stated Minister of Energy and Mining, Admir Šahmanović. He highlighted the significance of enhanced collaboration and coordination during the green transition process.

Šahmanović participated in two panels at the ESG Summit held in Porto Montenegro, where he exchanged insights with North Macedonia’s Minister of Energy, Sanja Božinovska, along with representatives from the Energy Community and the European Bank for Reconstruction and Development (EBRD).

The Ministry announced that the summit gathers key stakeholders from the region and Europe to share knowledge, experiences, and visions for sustainable development.

Key discussions focused on integrating regional electricity markets, implementing the Carbon Border Adjustment Mechanism (CBAM), and addressing financial challenges in industrial decarbonization.

Šahmanović emphasized the necessity for closer cooperation with EU institutions, affirming that Western Balkan countries are committed to harmonizing with European standards.

However, he pointed out that this complex process demands support and understanding from all stakeholders involved.

The Ministry reported that a well-integrated electricity market is fundamental for ensuring secure, affordable, and clean energy for all regional citizens.

“It was acknowledged that the CBAM mechanism can effectively stimulate demand for low-carbon products while promoting investments in decarbonization,” the statement added.

The meeting underscored that accelerating the green transition requires collaborative efforts to eliminate financial and infrastructural barriers.

As the host and partner of the Summit, Montenegro reaffirms its commitment to European standards, sustainable development, and strong regional collaboration.

“We recognize our responsibilities to the EU and are diligently working to meet them. However, this journey poses both financial and technical challenges. We need the backing of all EU institutions to succeed together in this transition,” Šahmanović explained.

Montenegro has enacted two essential laws – one on renewable energy sources and another on energy, with over 50 by-laws currently in development.

“The country is receiving significant support from the EBRD through this process,” stated the Ministry.

Throughout two days of focused discussions, the summit aims to provide a dialogue platform that fosters tangible and positive change, concentrating on shared challenges and solutions in green transition, market integration, and EU compliance.

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