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Discover thought leadership and legal insights by our legal experts from across CMS. In our Expert Guides, written by CMS lawyers from across the jurisdictions where we operate, we provide you with in-depth legal research and insights that can be read both online and offline. You can also find Law-Now articles with focused legal analysis, commentary and insights to help you anticipate future challenges and much more.

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War dam­age in Ukraine: all you need to know to ob­tain com­pens­a­tion
Ac­cord­ing to a re­port on 9 Septem­ber 2022 pre­pared by the World Bank, the European Com­mis­sion and the Ukrain­i­an gov­ern­ment, the cost of re­build­ing Ukraine and its eco­nomy has already reached at least...
En­ergy Sav­ings Guide
This CMS Guide is de­signed to shine a light on the wide vari­ety of en­ergy sav­ing laws in se­lec­ted CEE coun­tries by ex­plain­ing the most im­port­ant leg­al meas­ures and help­ing you to dis­cov­er where your op­por­tun­it­ies might lie. Polit­ic­al and leg­al frame­work En­ergy trans­form­a­tion re­quires build­ing up new en­ergy sources and that takes time. Sav­ing en­ergy, how­ever, is the quick­est and cheapest way to ad­dress the cur­rent en­ergy crisis, which is mainly caused by Rus­sia’s in­va­sion of Ukraine. Re­du­cing en­ergy con­sump­tion cuts house­holds’ and com­pan­ies’ high en­ergy bills.Build­ing on the “Fit for 55” pack­age of pro­pos­als and com­plet­ing the ac­tions on en­ergy se­cur­ity of sup­ply and stor­age, the European Com­mis­sion’s RE­PowerEU plan put for­ward a set of five ac­tions, the first of which is en­ergy sav­ing. Uni­on law sets forth man­dat­ory sav­ing goals for Mem­ber States but leaves them plenty of lee­way to choose between a vari­ety of meas­ures. Ap­plic­ant coun­tries and many oth­ers have passed en­ergy sav­ings laws and tar­gets too – of­fer­ing ad­di­tion­al flex­ib­il­ity.As a frame­work, the Fit for 55 pack­age and the European Cli­mate Law (REG 2021/1119) sets out a bind­ing, ir­re­vers­ible re­duc­tion of an­thro­po­gen­ic emis­sions. By 2030, 55% of the net GHG (green­house gas) emis­sions com­pared to 1990 must be saved. By 2050, the man­dat­ory net zero emis­sion goal must be achieved.Reg­u­la­tion 2022/1032 re­quires that mem­ber states fill their gas stor­age fa­cil­it­ies to at least 80-90% or that they store at least 35% of their av­er­age an­nu­al con­sump­tion in European stor­age fa­cil­it­ies. Re­du­cing con­sump­tion over the years re­duces the filling ob­lig­a­tion.Since Au­gust 2022, ob­lig­at­ory re­duc­tions in gas con­sump­tion ap­ply to EU mem­ber states (Reg­u­la­tion 2022/1032). The core in­nov­a­tion of this re­gime is the Uni­on alarm that can be triggered by the European Coun­cil if there is a ma­ter­i­al risk of grave gas sup­ply short­ages, ex­traordin­ary gas de­mand or a na­tion­al alarm pur­su­ant to Dir­ect­ive 2017/1938 in at least five Mem­ber States. Once a Uni­on alarm has been triggered and for as long as it re­mains in force, mem­ber states must re­duce their gas con­sump­tion by 15%. There is a par­tial ex­cep­tion if this would oth­er­wise cause an elec­tri­city crisis in the re­spect­ive mem­ber state. However, the steer­ing meas­ures to be taken and wheth­er cer­tain groups of gas con­sumers are gran­ted more fa­vour­able con­di­tions re­main at the mem­ber state’s dis­cre­tion. Re­gard­ing elec­tri­city, Reg­u­la­tion 2022/1854 on an emer­gency in­ter­ven­tion to ad­dress high en­ergy prices aims to re­duce elec­tri­city con­sump­tion by 10% and ease the pres­sure on elec­tri­city prices through rev­en­ue caps. Again, Mem­ber States are free to choose the ap­pro­pri­ate meas­ures to re­duce gross elec­tri­city con­sump­tion and meet the 10% tar­get.Ad­di­tion­al rules ap­ply to the fuel con­sump­tion of trucks or the en­ergy con­sump­tion of dis­trict heat­ing/cool­ing. The CMS Guide The res­ult of these reg­u­la­tions con­cern­ing en­ergy sav­ing has been the in­tro­duc­tion of a wide vari­ety of en­ergy sav­ing laws in in­di­vidu­al states; and many more meas­ures are still to come. This CMS Guide is de­signed to shine a light on these reg­u­la­tions by ex­plain­ing the most im­port­ant leg­al meas­ures and help­ing you to dis­cov­er where your op­por­tun­it­ies might lie. For each jur­is­dic­tion, the guide is struc­tured in­to: (1) a coun­try over­view,  (2) na­tion­al re­lief meas­ures for high en­ergy prices,  (3) na­tion­al/re­gion­al/com­mun­al en­ergy sav­ings meas­ures, and  (4) en­ergy stor­age status and in­cent­ives.The fol­low­ing meas­ures have been chosen by the states rep­res­en­ted in this  guide:  sub­sidies to end-con­sumers (Aus­tria in gen­er­al for en­ergy prices; Croa­tia for gas con­sump­tion), price caps: elec­tri­city (Croa­tia for house­holds, un­der­tak­ings and cer­tain­pub­lic con­sumers; Ukraine for house­holds),re­duced VAT rate (Croa­tia, North Mace­do­nia), tax in­cent­ives to privately store gas (Ukraine); ex­emp­tion from steer­ing meas­ures for privately stor­ing gas (Aus­tria),sub­sidies to com­pensate for high en­ergy prices (Bul­garia and Slov­akia, in Slov­e­nia for en­ter­prises, in Türki­ye for ag­ri­cul­ture) and en­ergy sav­ing meas­ures: (Croa­tia for SMEs); the real­loc­a­tion of EU funds to sup­port en­ergy con­sumers (Slov­akia); sub­sidies for en­ergy stor­age solu­tions (Aus­tria, Bul­garia and Ukraine) or for heat pro­du­cers (Ukraine),en­ergy ef­fi­ciency meas­ures in­cl. di­git­al­isa­tion (Bul­garia),re­duced hours of elec­tri­city or heat­ing sup­ply (North Mace­do­nia) or of gas sup­ply (Slov­akia),re­duc­tion of en­ergy con­sump­tion by the pub­lic ad­min­is­tra­tion (Aus­tria, North Mace­do­nia, Slov­e­nia), an­dob­lig­a­tions on gas stor­age op­er­at­ors to feed gas in­to the grid (Aus­tria, Slov­akia) or to sup­ply heat pro­du­cers at pref­er­en­tial prices (Ukraine).re­wards for vol­un­tary re­duc­tion of gas and/or elec­tric en­ergy con­sump­tion (Slov­e­nia)educed per­mit­ting re­quire­ments for PV and wind plants (Türki­ye).
The ESG chal­lenge is a drive to­wards in­nov­a­tion
This in­ter­view with Ag­nieszka Skoru­p­in­ska first ap­peared in the Fu­ture of Emer­ging Europe: Sus­tain­ab­il­ity Re­port 2022.  A copy of the full re­port is also avail­able to ac­cess here. The ESG chal­lenge is a drive to­wards in­nov­a­tion Due to a vari­ety of his­tor­ic­al factors, sus­tain­ab­il­ity is­sues have con­sti­tuted a sig­ni­fic­ant chal­lenge for the emer­ging Europe re­gion. After the fall of the Ber­lin wall, the situ­ation with re­spect to fore­most en­vir­on­ment­al and so­cial is­sues was dif­fi­cult. The fore­go­ing was es­pe­cially ap­par­ent with re­spect to en­vir­on­ment­al mat­ters as the pre­ser­va­tion of the en­vir­on­ment and its pos­sible im­pact on hu­man health was not a pri­or­ity for the rel­ev­ant au­thor­it­ies and busi­ness dur­ing the com­mun­ist peri­od. While there were many in­dus­tri­al plants in CEE at that time, their equip­ment was out­dated and they were nev­er ser­i­ously re­quired to cut down their en­vir­on­ment­al im­pact. 
ESG and the en­ergy sec­tor
This art­icle first ap­peared in the Fu­ture of Emer­ging Europe: Sus­tain­ab­il­ity Re­port 2022.  A copy of the full re­port is also avail­able to ac­cess here.De­vel­op­ments in ESG is­sues in emer­ging Europe’s en­ergy sec­tor con­tin­ue apace. En­ergy gen­er­a­tion com­pan­ies, gov­ern­ments, loc­al au­thor­it­ies and con­sumers are all af­fected by the drive to­wards a fu­ture that is less re­li­ant on fossil fuels.
ESG and the fu­ture of work
This art­icle first ap­peared in the Fu­ture of Emer­ging Europe: Sus­tain­ab­il­ity Re­port 2022. A copy of the full re­port is also avail­able to ac­cess here.ESG is­sues are hav­ing a grow­ing im­pact on how we all work. But what de­vel­op­ments are com­pan­ies im­ple­ment­ing in re­ac­tion to this dy­nam­ic en­vir­on­ment, and what changes might em­ploy­ees have to face in the fu­ture?
ESG in emer­ging Europe hub
The fo­cus on ESG (en­vir­on­ment­al, so­cial and gov­ernance) in emer­ging Europe has in­creased not­ably fol­low­ing the EU tax­onomy com­ing in­to force at the be­gin­ning of 2022. EU-driv­en ini­ti­at­ives, in­clud­ing policies com­ing out of the European Green Deal (EGD) to fight cli­mate change have star­ted af­fect­ing the in­dustry, and with tight­en­ing reg­u­la­tion as well as re­port­ing and com­pli­ance ob­lig­a­tions, there is cer­tainly more to come. 
Tech­no­logy Trans­form­a­tion – Me­dia
The me­dia sec­tor is known to be highly com­pet­it­ive, with that com­pet­i­tion driv­ing in­nov­a­tion. Older me­dia busi­nesses have had to grapple with dis­rupt­ive new entrants. And those new entrants are con­stantly work­ing to de­liv­er bet­ter and more en­ga­ging con­tent and user ex­per­i­ences to main­tain their ad­vant­age. Di­git­isa­tion has changed how me­dia com­pan­ies in­ter­act with their audi­ence in ways we could not have ima­gined just a few years ago, but this comes with risk.This re­port is a deep dive in­to the data first pro­duced for the re­port Tech­no­logy Trans­form­a­tion: Man­aging Risks in a Chan­ging Land­scape. This saw over 500 cor­por­ate coun­sel and risk man­agers sur­veyed from mul­tiple in­dus­tries across the world. Here we look in de­tail at the 75 re­spond­ents from the me­dia sec­tor, and their per­spect­ives on the risks as­so­ci­ated with busi­ness-crit­ic­al tech­no­lo­gies, in­clud­ing emer­ging tech­no­lo­gies. What did we find? Me­dia is a dy­nam­ic sec­tor and can be an early ad­op­ter of many nov­el tech­no­lo­gies as com­pan­ies push for com­pet­it­ive ad­vant­ages to cre­ate and sat­is­fy cus­tom­er de­mand. As we look to the fu­ture, the sec­tor does seem un­der­prepared in some areas, which is a po­ten­tial cause for con­cern.Down­load the Tech­no­logy Trans­form­a­tion me­dia sec­tor re­port now to read aboutThe prin­cip­al drivers in the ad­op­tion of busi­ness-crit­ic­al tech­no­logy in the me­dia sec­tor­Con­fid­ence in man­aging tech-re­lated risks among seni­or me­dia ex­ec­ut­ivesFu­ture threats from new tech­no­lo­gies like AI and block­chain­Which plans and pro­cesses me­dia com­pan­ies are put­ting in place to pro­tect tech in­fra­struc­ture­Cul­tur­al bar­ri­ers to man­aging tech risks in the me­dia sec­tor­Preferred ap­proaches to dis­pute res­ol­u­tion in the me­dia sec­tor
CMS Real Es­tate Glob­al Bro­chure
Glob­al­isa­tion, polit­ic­al tur­bu­lence, changes in urb­an liv­ing pat­terns, in­creased di­git­isa­tion, shift­ing con­sumer be­ha­viour and flex­ible work­ing are just some of the is­sues that are trans­form­ing the de­mands...
Private Ren­ted Sec­tor: a new as­set class in CEE
We are pleased to present the ‘Private Ren­ted Sec­tor: a new as­set class in CEE’, a re­port pub­lished by CMS in co­oper­a­tion with CBRE.
CMS Bank­ing & Fin­ance Glob­al Bro­chure
Fin­an­cial and bank­ing le­gis­la­tion does not stand still. So neither do we.At CMS we em­ploy over 500 bank­ing & fin­ance law­yers to an­ti­cip­ate, in­ter­pret and ad­vise on the loc­al, cross-bor­der and in­ter­na­tion­al...
Ukraine ad­opts new le­gis­la­tion on medi­cines
Des­pite the war with Rus­sia, Ukraine works harder than ever to align its le­gis­la­tion with that of the EU, in a bid to ac­cel­er­ate the EU mem­ber­ship. In a long-awaited move, on 28 Ju­ly 2022 Ukraine fi­nally ad­op­ted the new Law on Medi­cines (Law) with a view of har­mon­ising the Ukrain­i­an phar­ma­ceut­ic­al reg­u­la­tion and gov­ernance with the EU ap­proaches. The Law is an over­haul of the Ukrain­i­an phar­ma­ceut­ic­al le­gis­la­tion, with sub­stan­tial changes across most (if not all) areas of reg­u­la­tion (i.e. R&D, man­u­fac­tur­ing, au­thor­isa­tion, cir­cu­la­tion, li­cens­ing, state sur­veil­lance, pro­mo­tion, etc.). The Law will enter in­to force gradu­ally, with suf­fi­cient time for all mar­ket play­ers to be­come fully pre­pared.
Boom & Gloom? CMS European M&A Out­look 2023
We are pleased to share with you the 2023 edi­tion of the European M&A Out­look pub­lished by CMS in as­so­ci­ation with Mer­ger­mar­ket.