At the CEE Legal Matters GC Summit in Istanbul, legal experts from across the region and beyond tackled the importance of crisis management – even when nothing is burning. Summit attendees were briefed on how companies can navigate gray areas, manage global supply chain disruptions, and, overall, be prepared for whatever comes their way.

With ESG having been a buzzword in the Czech real estate market for a few years now, Clifford Chance Partner Emil Holub, Kocian Solc Balastik Partner Jiri Hornik, VIDD Partner Ondrej Hampl, Taylor Wessing Counsel Radka Nenickova, and Act Legal Czech Republic Partner Tomas Slaby look at how ESG principles are being applied in practice and in what areas there is still room for improvement.

The impact and perception of ESG considerations in the CEE region, and specifically in the Czech Republic, is still in the early stages of its evolutionary path, compared to, say, the U.K., the U.S., or larger Western European economies. There is certain skepticism and uncertainty as to what this new trendy acronym means and if, at the end of the day, it will really impact a Czech industrial family business, a hotel, or a high-tech start-up. ESG considerations, policies, and metrics are likely to be more familiar (and implemented to a certain degree) to a large Czech company – moreover, when it’s a part of an international corporate group – rather than a smaller Czech enterprise, but of course, there are exceptions to the rule.

After several unsuccessful attempts, the Czech Republic has finally adopted a law that introduces institutional protection for whistleblowers in accordance with European legislation. The Whistleblower Protection Act (Act) will come into force on August 1, 2023.

In a significant development, the European Parliament and Council have recently reached a preliminary agreement on a set of new regulations designed to combat misleading advertising and provide consumers with more accurate product information. This agreement aims to strengthen consumer rights and tackle deceptive marketing practices, including greenwashing and planned uselessness of products.

As part of the implementation of the European Union's waste management directives, Hungary will also need to apply the rules of the ‘Extended Producer Responsibility’ (EPR) legislation as from 1 July 2023.