Uzovi 2017

Green Economy in the Western Balkans
Managing Environmental Component of Sustainable Development in Trade Sector of

Serbia
Sreten Ćuzović, Svetlana Sokolov Mladenović,
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5
MANAGING ENVIRONMENTAL
COMPONENT OF SUSTAINABLE
DEVELOPMENT IN TRADE SECTOR
OF SERBIA
Sreten C¡ uzovic¡ and Svetlana Sokolov Mladenovic¡
ABSTRACT
The aim of this chapter is to highlight the importance of sus-

tainable development, especially its environmental component
in trade and retail sector of the Republic of Serbia. Due to a
number of factors, such as increased consumer awareness on
the importance of eco-products, new statutory and legal regu-
lations, and increased competition, retail chains are increas-
ingly oriented to the concept of sustainable development,
in particular promoting its environmental component, eco-
products, and eco packaging. Trade, especially retail, plays an
important role in linking producers and consumers, and soci-
ety as a whole. In this way, trade has a good overview of all
the changes occurring in the environment, production, and
consumer needs. Changes in the environment further stimu-
late trade to operate in accordance with the principles of
141
142 Sreten C¡ uzovic¡ and Svetlana Sokolov Mladenovic¡
sustainable development, including all its dimensions. In this

regard, special attention is paid to the protection of working
and living environment, as components of sustainable devel-
opment. The chapter includes a review of literature in the field
of sustainable development and application of this concept in
the trade and retail sector. The theoretical aspect of the
research focuses on conceptualization of sustainable develop-
ment and its environmental component in trade and retail.
With reference to theoretical research on the implementation
of environmental component of sustainable development in

trade, empirical research has been conducted from two
aspects. First, analysis focuses on the performance and socio-
economic importance of trade sector of the Republic of
Serbia, as well as the number of ISO 14001 certificates in
trading companies. Second, analysis shifts to the largest trad-
ing companies in the Republic of Serbia, based on available
secondary data on the implementation of the concept of sus-
tainable development and its environmental component.
Keywords: Sustainable development; environmental

component; trade; retail; Republic of Serbia
INTRODUCTION
At the turn of the century, the concept of sustainability has

become an important term and approach to creating long-term
competitive advantage. Sustainable development strategies are
gaining importance in every sector of the economy, culture, and
education, relying on the principles of sustainable development,
which include three key components: environmental, economic,
and social. Implementing the concept of sustainable development
to protect the environment is based on the principle of non-
deterioration of existing environmental problems, as well as on
Managing Environmental Component of Sustainable Development 143
the principles of “polluter pays” and “consumer pays for the use
of natural energy sources and raw materials.” These principles
have a major impact on solving environmental problems, which
further affects business modernization and innovation, both in the
field of environmental protection and in companies from all
spheres of the economy.
Trade, particularly retail, is an important segment of an econ-
omy. It is in direct contact with consumers, which represent its
starting and ending point. At the same time, in modern business
conditions, consumers are more sophisticated and aware of the

importance of environmental protection, as well as products car-
rying eco, natural, or bio labels. All this is causing an increase in
demand for eco and “green” products on the market. So, trade,
especially retail, is becoming more and more aware of the impor-
tance of introducing eco and “green” products in its range, as well
as of implementation of activities in the context of sustainable
development and its components. The proof of this lies in activity
of world-leading retail chains, such as Wal-Mart, Carrefour,
Tesco, Metro, Home Depot, Kroger, Schwarz, Target, Costco,
and others. In their business, they apply a “strong” model of sus-
tainability and their business policies are much more than simply
promoting sustainability. These retailers use environmental, eco-
nomic, and social component of sustainability as an essential
dimension of creating and maintaining competitive advantage of
retail activities.
European Union activities support the necessity of sustainable
development in trade and retail, defining key priorities in achiev-
ing higher levels of competitiveness and sustainable development
of the retail sector (Environment Action Program to 2020): (1)
strengthening the position of consumers by achieving a higher
level of transparency and reliability of information on comparabil-
ity of prices and product quality; (2) promotion of sustainable
development and a higher level of competitiveness of retail ser-
vices, including easier entry of new operators on the retail market
on the basis of clear and transparent rules of their establishment;

(3) realization of just and at a higher level sustainable relation-
ships between entities in the entire retail chain; (4) further devel-
opment of innovation and new solutions in the performance of
retail and wholesale operations; and (5) improving working condi-
tions for employees in trade, particularly in retail.
Bearing in mind all the previous facts, as well as the signing of
the Stabilization and Association Agreement with the European
Union (in the year 2008), the question is what is the practice and
business of retail chains in Serbia like in the context of sustainable

development, especially its environmental component. The aim of
this chapter is to analyze the management of environmental com-
ponent of sustainable development in retail chains on the Serbian
market. The work is divided into three parts. The first part ana-
lyzes theoretical aspects of operation of retail chains in accordance
with the principles of sustainable development. The second part
analyzes the environmental component of sustainable develop-
ment with reference to the adoption and implementation of inter-
nationally accepted standards in this area. The third part describes
research methodology, results, and limitations.
TRADE AND RETAIL IN THE CONTEXT OF SUSTAINABLE

DEVELOPMENT LITERATURE REVIEW
Development and application of the concept of sustainable devel-

opment have a relatively long history. However, its intensive use
has been recorded at the turn of the century. Modern economies
place emphasis on sustainable development, as an imperative of
the 21st century, looking at the broader concept of economic
growth, which, in the years of intense market globalization and
economic recession, finds exit in human ecology. The new world
order is clearly focused on corporate responsibility and sustain-
able economic and human development.
In this regard, there have been numerous debates on sustainable

development or sustainability in business, leading to a large num-
ber of definitions of the concept of sustainable development (Jones,
Comfort, & Hiller, 2005, 2011; Sokolov Mladenovic¡ & C¡ uzovic¡,
2014).
The concept of sustainable development has come into focus in
1987 when the World Commission on Environment and
Development, WCED, better known as the Brundtland
Commission, submitted their report to the United Nation (UN) in
1987 (WCED, 1987). Based on their report UN General Assembly

(UN General Assembly, 2005) defined sustainable development
“as development that meets the needs of present, without
compromising the ability of future generations to meet their own
needs.” Accordingly, business in the context of sustainable devel-
opment must first eliminate degradation of living and working
environment caused by economic activity, without ignoring social
values of equality and justice, as well as high business ethics.
All subsequent debates on sustainable development relied on
the UN definition, with broader and more comprehensive
approach to the concept of sustainable development. Table 1
shows some of the major theoretical explications of the concept of
sustainable development.
Based on these definitions, one can see that the concept of sus-
tainable development has three components (Elkington, 1997;
Wilson, 2015): social, environmental, and economic, or people,
planet and profit (Fig. 1).
Trade, particularly retail, is a link that connects producers and
consumers, and, as such, has a decisive impact on producers and
consumers in the process of raising awareness of sustainable devel-
opment principles and all its dimensions and components (Erol,
Cakar, Erel, & Sari, 2009; Jones, Comfort, & Eastwood, 2005).
Recent years have produced intense studies of the concept of sus-
tainable development in the field of trade and retail. Bearing in
mind various studies, one can identify the key elements in
Table 1. Definitions of the Concept of Sustainable Development.
Author(s) Definition
Costanza and Patten (1995, p. 193) “The main idea of sustainability is simple:
sustainable system is one that survives and
subsists.”
United Nations Environment “Sustainable development depends on the
Programme Finance Initiative (1997) positive interaction between economic and social
development and protection of the environment,
i.e. balance of interests of present and future
generations.”
Parris and Kates (2003, p. 581) “Sustainable development involves meeting basic
human needs, while reducing hunger and poverty
and preserving the eco-system.”
Ehrenfeld (2005, pp. 24 25) “Sustainability provides an opportunity for all
forms of life. For people, it is the survival and
maintenance, as well as a sense of dignity…
Finally, sustainability requires responsible, ethical
choices everywhere in daily life.”
United Nations General Assembly “Sustainable development with its economic,
(2005, p. 2) environmental, and social component is a key
element of United Nations.”
Lozano (2008, p. 8) “In order to achieve sustainable development, a
holistic, continuous, and interactive relationship
between economic, environmental, and social
aspects is needed, and that every decision has its
implications on all these aspects today and in the
future.”
Source: Sokolov Mladenovic¡ & C¡ uzovic¡, 2014.
implementing the concept of sustainable development in trade, espe-

cially retail, such as reducing energy and water consumption, reduc-
ing gas emission, use of clean technology, waste recycling, “green”
building, along with raising awareness of both producers and con-
sumers (Burger & Christen, 2011; Kotzab, Munch, de Faultrier, &
Teller, 2011; Wiese, Kellner, Lietke, Toporowski, & Zielke, 2012).
Furthermore, sustainable development in trade requires a large
number of “sustainable” activities: energy efficiency, recycling and
Fig. 1. Components of the Concept of Sustainable Development.
Social/People Economic/Profit
Environmental/Planet
Source: Authors.
reuse of products and packaging, reducing waste, increasing the use

of biodegradable packaging, use of “green” energy sources, imple-
menting “green” procurement, implementing “green” criteria when
selecting suppliers, and so on (Delai & Takahashi, 2011).
What is common to all research on the application of sustain-
able development in trade is the fact that it is a function of several
variables, many of which comprise an “intangible” determinant of
business success. In addition, each of these variables makes its
contribution to the implementation of the concept of sustainable
development (Gleason, 2010). This is particularly confirmed by
the model of factorial conditioning of implementation of sustain-
able development (Fig. 2).
Initiatives of numerous trade associations also support the
application of the concept of sustainable development in trade.
For example, RILA (Retail Industry Leader Association), the trade
association representing the world’s largest and most innovative
trading companies, with over 200 members, in 2007 launched the
so-called sustainability initiative. This initiative has been trans-
lated into annual sustainability reports published by RILA, whose
Fig. 2. Model of Factorial Conditioning of Implementation of Sustainable

Development Concept in Trade.
Sustainable retailing
Environment Society Economy

- Green buildings - Human rights - Value of shares
- Renewable energy - Diversity - Financial objectives
- Stakeholder education - Fair trade - Corporate governance
- Green products and partnerships - Fair consumption - Economic performance
- Recycling and waste reduction - Safety and security
- Consumer behavior - Philanthropy
- Supply chain management and
transportation
Accountability and Regulatory compliance Third party auditing

transparency Sustainability reporting Measurement
Visible leadership Program management

Leadership
Business case Integration
Source: Authors.
aim is to mark the key elements of the application of the concept

of sustainable development in trading companies, with a compre-
hensive analysis of key success factors, but also problems in the
implementation of this concept in companies within RILA (Retail
Sustainability Management Report, 2015).
What is more, the most successful retail chains regularly publish
their sustainability reports, showing components or dimensions of
sustainable development, standing for an integral element of their
business and long-term and sustainable competitive advantage.
Relying on the list of the most successful retail chains (seen in
terms of volume of business), as well as insight into their sustain-
ability reports, Table 2 presents 10 largest retail chains in the
world in the year 2015, implementing the concept of sustainable
development with its dimensions and components.
Upon insight into sustainability reports published by the most
successful retail chains, one can see all three components of sus-
tainable development in their business.
Managing Environmental Component of Sustainable Development
Table 2. Implementation the Components of Sustainable Development in the Most Successful Retail Chains in the World in
the Year 2015.
Rank Company Country Revenue in 2015 Economic Component Environmental Component of Social Component of
(in millions $) of Sustainable Sustainable Development Sustainable Development
Developm ent
1. Wal-Mart Stores, Inc. USA 482,130 √ √ √

2. Costco Wholesale Corporation USA 116,199 √ √ √
3. The Kroger Co. USA 109,830 √ √ √
4. Schwarz Unternehmenstreuhand Germany 94,448 √ √ √
KG
5. Walgreens Boots Alliance, Inc. USA 89,631 √ √ √
(formerly Walgreen Co.)
6. The Home Depot, Inc. USA 88,519 √ √ √
7. Carrefour S.A. France 84,856 √ √ √
8. Aldi Einkauf GmbH & Co. oHG Germany 82,164 √ √ √
9. Tesco PLC Great 81,019 √ √ √
Britain
10. Amazon.com, Inc. USA 79,268 √ √ √
Top 10 1,308,065
Top 250 4,308,416
149
Source: Authors’ analysis is based on ALDI Corporate Responsibility Policy, 2015; Amazon.com, Inc. Sustainability Report 2015; Carrefour 2014 Annual Activity and Sustainability Report; Corporate
Social Responsibility Report 2015; Costco Corporate Sustainability Report 2015; Deloitte Touche Tohmatsu Limited. Global Powers of Retailing 2017; Home Depot Sustainability Report 2015; Kroger
Sustainability Report 2016; Wal-Mart 2016 Global Responsibility Report; Target Corporate Responsibility Report 2015.
ENVIRONMENTAL COMPONENT OF SUSTAINABLE

DEVELOPMENT AND ITS IMPORTANCE IN TRADE
Solving environmental problems has been on the agenda of

trading companies for many years. Currently, they are looking
to solve environmental issues, including energy consumption
and gas emission, use of hazardous materials, water consump-
tion, waste disposal, recycling, genetically modified food, and
use of chemicals. Thus, a large number of companies that
belong to the so-called food retail sector focus on balancing the

need for sufficient food in their stores, on the one hand, and
concern for the environment, on the other (Jones, Comfort
et al., 2005).
Mere concern for a healthy environment has a long history.
The first environmental groups and the requirements of “the
green” of 1960s received little attention because no one knew
what it was about and where it would lead. For most of the popu-
lation of the time, their performance had overtones of romantic
natural enthusiasm, colored by “flower children” ideology and
similar malcontents with consumer society philosophy, conse-
quences of technological development, and endless accumulation
of weapons (Djukic¡, 1996). Meanwhile, ecology has become a
matter of national, international, and global development regula-
tions. It obliges company management to the use of so-called eco-
logistics management of production and trade in products and ser-
vices, in a way that does not question the man’s environment
(working and consumer). This eco-logistics concept of managing
production and trade in goods and services must be based on the
principles of modern eco-management. These principles are an
integral part of national and international eco-standards, applied
in the business concept of the company pretending to become a
cultural pattern of behavior of all citizens. In fact, these are activi-
ties conducted in countries with developed markets during the
1980s and 1990s, when the world became aware of direct
reciprocal cause and effect relationships between economy and a

healthy environment (C¡ uzovic¡ & Ivanovic¡, 2010).
Bearing in mind all these activities, green thread pervades mar-
keting, trade, and consumers. Requirements for green (environ-
mental) technology, green (natural) products, green packaging,
and the like are becoming more and more pronounced. It is a pro-
cess that has lasted for several decades and that International
Organization for Standardization (ISO) legitimized and internatio-
nalized by adopting ISO 14000 (EMS environmental manage-
1
ment system) quality standards in 1996. ISO further improved
this standard in 2004 with the adoption of ISO 14001:2004 and
ISO 14004:2004 standards. 14001:2004 standard defines EMS
while identifying and controlling environmental impact on activi-
ties, products, and services, improving EMS performance, and
implementing a systemic approach to EMS. ISO 14004:2004 stan-
dard is a kind of general guideline for EMS implementation, pro-
viding guidelines for the implementation of EMS elements and
principles and specifying the requirements for each EMS system
(ISO 14000 Environmental management).
Jeopardizing the living and working environment leads to
convergence of trade and ecology. On this basis, the so-called
eco-trade and eco-marketing come into focus. Under such circum-
stances, the environmental movement (the so-called Green) comes
into play, with their initiatives and proposals that, in addition to
manufacturers and trade, the state should also get involved with
the issue of protection of living and working environment. In this
regard, it is understood that producers, trade, and consumers can-
not avoid environmental responsibility. Eco-quality, eco-packaging,
eco-product, packaging recycling, and reduction in environmental
pollution are binding elements of trading pillars’ business policy.
However, the state should have regulations to force the participants
in the market chain to care about ecology. Viewed through the
prism of economic policy, it is operationalized through the
introduction of “polluter pays” taxes (C¡ uzovic¡ & Sokolov

Mladenovic¡, 2013).
According to consulted literature, ISO 14000 quality standard
contains the following elements: eco-marketing company orienta-
tion towards nature and environmental protection, improving the
company environmental performance and enhancing the business
image, rational use of rare and non-renewable geological
resources, eco-quality in procurement, eco-quality in production,
eco-verification of final product, eco-quality of packaging and
storage, eco-quality in sales and distribution, eco-quality of prod-

uct installation and/or (consumption), recycling and waste reduc-
tion after use, consumer information, and “eco” labeling of
products and services (Environmental management The ISO
14000 family of International Standards).
Ecological rationality and eco-quality are becoming strategic
orientation of company management on developed markets. This
orientation does not derive only from a legal obligation but also
from ecological codes, widely-accepted as an integral part of mod-
ern business culture and life. In this regard, the ISO constantly
revises ISO 14000 standard, as evidenced by the latest ISO 14001
revision, made official on 15 September 2015, released as ISO
14001:2015 standard (ISO 14001:2015(E) Environmental man-
agement system Requirements with guidance for use).
The popularity of this standard is based on the fact that it pro-
vides numerous advantages to companies, including trading com-
panies, tending to be socially responsible. These advantages are
reflected in increased competitiveness, advantages in tenders and in
business transactions, trust with business partners and consumers,
lower negative impact on the environment, improved business pro-
cesses, reputation of a successful and responsible company that
cares about environmental aspects, and many others. ISO statistics
says that the number of certified companies in the world, according
to the ISO 14001 standard in 2014, was more than 300,000, an
increase of 6% compared to 2013 (The ISO Survey of

Management System Standard Certifications 2014).
It is believed that the main reasons for the revision of ISO
14001:2004 lie in a number of technological changes that have
taken place in the last 20 years, so that a new version of ISO
14001, in addition to technological changes, reflects new expecta-
tions that stakeholders have in relation companies. Experts con-
sider this revision a big one, given that it leads to significant
changes in requirements that companies are obliged to fulfill. It is
expected that ISO 14001:2015 standard will help companies adapt

their environmental business policy to their specific activities.
Viewed in a broader context, the objective of this standard is to
achieve a balance between the environment, society, and economy,
in order to meet present needs without compromising the ability
of future generations to meet their own needs. In fact, the purpose
of this international standard is to provide companies a frame-
work to protect the environment and to specify the requirements
that will enable the company to achieve the intended outcomes.
METHODOLOGY RESEARCH
Starting from the previously analyzed theoretical aspects and con-

ceptual framework of sustainable development in trade and retail,
as well as its dimensions, research question that the work opens is
whether the trade sector of the Republic of Serbia applies the envi-
ronmental component of sustainable development. Accordingly,
research hypothesis to be tested is (H1): environmental component
of sustainable development is applied in trading companies oper-
ating on the market of the Republic of Serbia. This hypothesis will
be tested from two aspects. First, performance and socio-economic
importance of trade sector of the Republic of Serbia are analyzed,
as well as the number of ISO 14001 certificates in trading compa-
nies. Second, analysis shifts to operations of the largest trade
companies in Serbia in the context of sustainable development

and its environmental component, through review of their web-
sites, as well as data and documents available.
Economic Performance of the Trade Sector in the

Republic of Serbia
Economic development of the Republic of Serbia in the last 15

years has been of moderate intensity, but significantly weakened
during the global financial and economic crisis, with its spillover
effect on the Serbian economy. When it comes to the trade sector,
as part of the overall Serbian economy, it is important that its
development in the last 15 years has been more intense in relation
to the overall economic development of Serbia (C¡ uzovic¡ &
Sokolov Mladenovic¡, 2016). Gross domestic product (GDP) of the
Republic of Serbia in the last 15-year period had an average
growth rate of 3.0% per year. From 2007 to 2015, the growth
rate slowed down significantly (0.6% on average per year)
(Lovreta, Petkovic¡, Bogetic¡, & Stojkovic¡, 2016).
In the period after 2000, trade sector was dynamically develop-
ing. Despite the large number of barriers to development, it can be
concluded that trade significantly improved over the last 15 years.
High growth rates, particularly in the period from 2002 to 2007,
can be seen in Fig. 3.
High growth rates in the first years of the 21st century are
largely the result of a low starting base, since the Serbian trade
during the 1990s was largely destroyed and structurally regres-
sing. In addition, much of the trade was coming back from gray
channels where it once was, so that the annual growth rate of
over 20% or even 36% was not realistic. In any case, 2007
recorded very high growth rates in trade. This period was marked
by the introduction of modern trade formats on the Serbian mar-
ket, which significantly increased the number of modern super-
markets and hypermarkets in large urban areas, with the
Fig. 3. GDP Growth Rate of Serbian Trade in the Period 2002 2014.
12.00
10.50 10.40
10.00 9.80 9.80

9.40 9.50 9.40
9.30 9.30 9.30
8.00
7.20
6.60
5.90
6.00
4.00
2.00
-
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014*
Source: Authors’ calculation based on Statistical Office of the Republic of Serbia, 2005 2014.
appearance of cash and carry formats in wholesale and retail

stores in big cities. After 2008, growth rates were either negative
or very low. The global economic crisis did affect the growth rate,
but bad moves in trade policy also had significant impact.
Trade sector is one of the key factors, if not critical to the effec-
tive functioning of the Serbian economy. This is reflected in the
data on the number of trading companies, as well as on the num-
ber of employees in trade (Tables 3 and 4).
Thus, Serbian trade has made significant progress in the last 15
years. However, it is still burdened by a number of structural pro-
blems such as the excessive number of trade entities, insufficient
cooperation, concentration, and integration of wholesale and
retail trade, exaggerated development of wholesale in relation to
retail trade, fragmentation of the trade network and an excessive
number of retail stores, insufficient development of modern trade
Table 3. Total Number of Companies in Serbia and the Number of

Companies in Trade, in Period from 2012 to 2015.
2012 2013 2014 2015
Total number of companies in the 93,369 94,362 93,759 92,842

Serbian economy
Number of companies in 33,393 33,341 32,911 31,948
wholesale and retail trade
Percentage share of trading 35.76% 35.33% 35.1% 34.4%
companies in total
Source: Authors’s calculation based on Statistical Office of the Republic of Serbia, 2005-2014.
Table 4. Total Number of Employees in Serbia and the Number of Trade

Employees, in Period from 2012 to 2015.
2012 2013 2014 2015
Total number of employees in the 1,010,000 991,030 976,061 992,531

Serbian economy
Number of employees in 195,235 191,653 189,976 195,621
wholesale and retail trade
Percentage share of trade 19.33% 19.34% 19.5% 19.7%
employees in total
Source: Authors’ calculation based on Statistical Office of the Republic of Serbia, 2005 2014.
formats, insufficient development of all forms of electronic com-

merce, vulnerability of small retail businesses and entrepreneurs,
and others. Those structural problems require a series of measures
that would mitigate or eliminate negative effects on trade and the
economy as a whole.
Previously shown business performance raises the question of
environmental responsibility of Serbian trade, that is, the issue of
applying the concept of sustainable development and especially its
environmental component. In this regard, the already discussed

ISO 14001 standards play an important role. It should be noted
that a significant step in terms of quality system improvement,
standardization, and technical regulations was made with the
Strategy for the Improvement of Quality Infrastructure in the
Republic of Serbia 2015 2020. Along with the requirement for
eliminating technical barriers to trade, a significant role in the
quality system belongs to product standardization and certifica-
tion in line with ISO 14001 standards, as well as activities of the
Institute for Standardization, which is permanently working on

the introduction of European standards and harmonized docu-
ments into Serbian system. In support of this is the fact that the
Institute for Standardization until the end of 2014 took over 95%
of European, that is, around 97% of European harmonized stan-
dards. Closely linked to the issue of standardization is the issue of
product certification, which assesses and certifies that the product
conforms to technical requirements. According to research con-
ducted by ISO in 2013 (http://www.iso.org/iso/home/standards/
management-standards/iso_9000.htm), certification of manage-
ment systems in the Republic of Serbia is increasing (Table 5).
The table shows that the most common certification is accord-
ing to ISO 9001, which was so until 2012, followed by a slight
decline. Certification of EMS is less present in the number of
issued certificates, as is with SRPS EN ISO 22000, as well as other
standards. However, what constitutes a standard feature of all is
that there is continued growth. It confirms the improvement of
quality infrastructure in the Republic of Serbia in the period from
2008 to 2013. These facts, as well as improved institutional
framework, stand for an incentive for future work in the field of
quality systems, standards, and technical regulations, as an impor-
tant segment of trade policy of the Republic of Serbia.
Analysis of business system certification shows that Serbian
trade has a significant share in certified quality management sys-
tems (ISO 9001 and ISO 14001), as illustrated in Table 6. If one
Table 5. Number of Certificates Issued in the Republic of Serbia in

Period from 2010 to 2014.
Standard 2010 2011 2012 2013 2014
SRPS ISO 9001 (Quality Management 2,733 1,790 3,228 2,750 2,366
System QMS)
SRPS ISO 14001 (Environmental 298 318 573 736 762
Management System EMS)
SRPS EN ISO 22000 (Food Safety 26 116 145 172 193
Management System)
SRPS ISO/TS 16949 (ISO 9001 in 10 11 15 18 26
automotive industry)
SRPS ISO/IEC 27001 (Information 3 8 9 25 43
Security Management System)
Source: Authors’s calculation based on Strategy for the Improvement of Quality Infrastructure in the
Republic of Serbia 2015-2020, Official Gazette of RS, 93/15.
Table 6. The Certified Quality Management Systems in Serbian Trade in

Period from 2010 to 2014.
2010 2011 2012 2013 2014
ISO 14001
Trade 11 26 44 96 537
Total industrial sector 216 269 489 831 4,950
Share of trade sector in the total number of 51 97 90 115 108
certificates
ISO 9001
Trade 264 210 397 473 1,186
Total industrial sector 1,786 1,240 2,490 2,831 15,933
Share of trade sector in the total number of 148 169 159 167 74
certificates
Source: Authors’s calculation based on http://www.kvalitet.org.rs/standardi, http://www.pks.rs/

PrivredaSrbije.aspx?id=21&p=0& (18 February 2017)
looks at the period from 2010 to 2014, the share of trade in the
total number of ISO 9001 certificates was significant, with 16.9%
in 2011, 15.9% in 2012, and 16.7% in 2013. A bit worse share
of Serbian trade was noted with respect to the number of ISO
14001 certificates in the total number of certificates in the indus-
trial sector. Thus, in 2011, its share was 5.1%, while the signifi-
cantly higher share was recorded in 2013 and 2014 (11.5% and
10.8%).
Environmental Component of Sustainable Development in

Trade Companies in Serbia
Another aspect of analysis of implementation of environmental

component in Serbian trade sector refers to the analysis of opera-
tions of the largest retail chains (judging by sales volume). The
largest retail chains and their sales volume in 2014 can be seen in
Table 7.
The analysis of their websites, as well as documentation avail-
able, will help analyze if and how these companies apply
Table 7. The Largest Retail Chains on the Serbian Market, 2014.
No. Company Business Income in 2014

(in billion RSD)
1. Delhaize Serbia 76,8

2. Mercator-s 63,4
3. Idea 8,62
4. Metro cash & carry doo 3,96
5. Dis 2,73
6. Univerexport doo 2,15
7. Aman doo 1,17
Source: Authors’s calculation based on Business Registers Agency (2016). Retrieved from http://pre-
traga2.apr.gov.rs/ObjedinjenePretrage/Search/Search, http://mtt.gov.rs/informacije/baza-trgovackih-
preduzeca-i-preduzetnika/ (18 February 2017).
environmental component of sustainable development, that is,

whether they are environmentally oriented. In doing so, the focus
of analysis will be their sustainability reports, or activities that
companies perform in the context of sustainable development and
its environmental component.
Delhaize (since recently Ahold Delhaize) is a Belgian retail
chain, which came to the Serbian market in 2011, when it took
over Maxi retail chain (https://www.maxi.rs/odrzivo-poslovanje).
Currently, Maxi (as part of Belgian Delhaize) is a synonym for
trade caring for its consumers, following world trends, and intro-
ducing innovation in all business segments. This international
retail chain, which operates on three continents, in nine countries,
through more than 3,500 stores, with 160,000 employees, has
almost a century of tradition in the field of sales of food products,
and brings Serbia a change in the sale of consumer goods. Since
then, Maxi is intensively expanding its product range, raising
quality, improving formulation and design. As part of its business,
Delhaize nurtures sustainable business, with emphasis on sustain-
able private label products, diversity and development of employ-
ees, healthy lifestyle, and taking care of nature. When talking
about sustainable private label products, it is important that they
do not compromise sources of raw materials, so Delhaize Serbia
has focused on globally threatened supply chains, such as palm
oil, fish, and wood fibers. It is also important that all food sold
under private brand is healthy and properly labeled, and to
respect the highest safety standards of production and occupa-
tional safety. Caring for nature is woven into Delhaize Serbia busi-
ness. Energy savings measures are implemented daily (closing the
cabinets, energy-saving lighting, monitoring), from recycling waste
generated during operation, even consumer packaging waste, to
the introduction of fuel-efficient trucks into fleet. The impact on
global warming and pollution of nature are carefully monitored
and reduced every day. These aspects confirm that this is a
company that cares for the environmental component of sustain-

able development in Serbia.
Mercator-S, as part of the Agrokor Group, is the largest retail
chain on the Serbian market today, whose network comprises
more than 300 IDEA stores, 33 Roda megastores, 2 Mercator cen-
ters, 8 Velpro centers, and 2 HoReCa centers serving caterers in
nearly 100 cities across Serbia. Mercator is unique on the Serbian
market as a company whose sales network has all kinds of store
formats from the hyper format with an assortment of 40,000
items, to small neighborhood shops for everyday needs. Agrokor

Group has been in the Serbian trade since 2005, when it pur-
chased IDEA and Velpro brands, and since 2014, through merger
of Mercator Group, it has grown into the largest regional retail
chain and is now the absolute trade leader on the Serbian market
and countries in the region. Mercator-S today is the second largest
company by total revenues in Serbia, currently employs more than
9,000 people, and serves more than 300,000 satisfied customers
every day.
The most recognizable chain of retail stores within Mercator-S
is Idea (http://www.idea.rs/Zajednica/Drustvena-odgovornost),
which in 2012 successfully certified EMS according to ISO
14001:2004 and became one of the first supermarket chains in
Serbia with that certificate. ISO 14001:2004 certificate is an
upgrade to the Idea Policy and EMS, which represent the founda-
tion of Idea’s business according to the principles of economic and
social sustainable development. Idea was among the first in Serbia
to use machines for cleaning floor surfaces using only water no
chemicals. In this way, it reduced water consumption by even
70%. Furthermore, catalogs are printed on recycled paper, which
reduces new tree cutting to make paper. By introducing a system
for the management of truck routes, Idea reduced fuel consump-
tion and CO2 emission. All refrigeration units are systemically
maintained to optimize operational efficiency and prevent leaks of
cooling gases into the atmosphere and protect the ozone layer.
Following the practice of environmental protection and preserva-

tion and adopting sustainable development criteria, Idea included
in its offer 100% biodegradable bags from Weltplast company
range. The new bags are fully biodegradable, and their use contri-
butes to the preservation of nature. All this confirms Idea’s imple-
mentation of the environmental component of sustainable
development.
Metro Cash & Carry started its development in Serbia in 2005,
by opening the first distribution center in Belgrade-Krnjacâ
(https://www.metro.rs/press). Today, Metro Cash & Carry oper-

ates in Serbia through 8 distribution centers, that is, wholesale
supermarkets. So far, the company has invested 120 million euros
and employed about 1,500 workers on the Serbian market. Metro
Cash & Carry business system permits the selection of suppliers
on the basis of precisely defined criteria, followed by a cooperative
arrangement that obliges suppliers to respect internationally rec-
ognized standards: ISO 9001, ISO 14001, IFC (International Food
Standard), HACCP, CODEX ALIMENTARIUS. This is a guaran-
tee of business in accordance with quality control standards. The
ultimate goal is to ensure high quality of service, both in respect
of products in stores and the mode of business and service provi-
sion in the long business tradition. In order to preserve high qual-
ity of products, Metro Cash & Carry conducts detailed internal
product control in its facilities. Control is implemented in terms of
quality assurance of all products, manufacturing products under
the trademark, and imports. Analysis of Metro operations points
to the fact that the company behaves ethically, bearing in mind
the environmental component of business, as well as the care of
the health and safety of employees. In this respect, it is also bound
by statutory and legal framework that regulates the field of ecol-
ogy and occupational health and safety, which, in turn, confirms
realization of ethical, environmental, and occupational health and
safety performance.
DIS (http://www.dis.rs/drustvena-odgovornost/donacije-i-ula-
ganja.php), Serbian trading company, has been operating since
1991, first in wholesale operations, and from 2006, in retail activi-
ties as well. The company creates competitive advantage based on
rapid and cheap transportation, high productivity, good organiza-
tion, computerization, and time saving, as evidenced by the fact
that 70% of customers (in the field of wholesale) order goods over
the Internet. The company is trying to offer consumers a diverse
range of products in its retail outlets (supermarkets), as well as
products under DOBRO, its own trademark. So, its business pol-
icy orientation is dominated by trademark products.
Univerexport (http://www.univerexport.rs/sr/drustvena-odgo-
vornost) was founded in 1990 as a small family business with four
employees, with an orientation to trade as the main activity.
Today, Univerexport group is the largest domestic retail chain
with over 120 retail outlets, 2,500 employees, more than 600
brands, its own production, consumer favorite on-line ordering
service, eLAKOLIJE, with free shipping, its farm Bac^ka, recogniz-
able quality of services, and reasonable prices. Through rational
use of energy and natural resources, support to the recycling pro-
cess, quality certification, product safety laboratory analyses, as
well as numerous projects, Univerexport contributes to environ-
mental policy. Numerous projects in the field of corporate social
responsibility and environmental protection have become part of
Univerexport’s business policy. With “Alter Eko Logika,” a non-
profit organization from Novi Sad, it realized a project focused on
the collection of portable batteries, their proper storage, and sub-
sequent recycling in order to raise environmental awareness
among citizens. From the beginning of 2011, consumers put their
batteries in specially marked and prepared boxes in the largest
Univerexport facilities, thus contributing to this project. Under the
slogan “Let’s plant, not cut,” consumers recognized the impor-
tance of the project, whose objective was to donate Christmas
trees for the purpose of greening of public spaces in municipalities
of Kac¡, Kovilj, and Salajka. This project was jointly realized by

Univerexport and Environmental Movement Novi Sad. In every
aspect of its business, Univerexport nourishes environmental pro-
tection principles. In each office space, as well as in retail stores,
employees dispose of unnecessary paper in the box for the collec-
tion of recyclable materials. In addition, the bags given to consu-
mers in retail stores are made from biodegradable materials, in
order to reduce waste and preserve the environment.
AMAN d.o.o. was founded in 1992 in Belgrade, and since then
has been engaged in trade and services (http://www.aman.co.rs/o-

nama). Despite the global economic crisis, the company recorded
significant results in 2008, when it started opening and increasing
the number of retail stores on the territory of Belgrade and the
surrounding areas. In June 2012, Aman took over “SOS Market”
chain with 30 retail facilities. In 2015, it took over “Vis^njica
Duc¡ani“ and “Interex” retail chains. In total, at the end of 2015,
Aman had 189 retail stores and over 2,000 employees. Today,
Aman is the second national retail chain in Serbia. The underlying
company values are courage, honesty, and responsibility. Using
these values, the company meets its business and corporate
philosophy.
Previous analyses regarding the application of the concept of
sustainable development and its environmental component in the
largest retail chains on the Serbian market make it possible to
come to certain conclusion. First of all, Delhaize, Idea, Metro, and
Univerexport are dominant regarding their environmental busi-
ness orientation. This is confirmed by their continuous reporting
on environmental awareness and management of living and work-
ing environment, published on official websites and in the media.
In support of this are companies’ activities, which they carry out
in order to position themselves as environmentally conscious com-
panies. When it comes to DIS and AMAN, which carry the title of
national chain stores, according to information available on their
official websites, as well as information published in the media,
one cannot identify the concept of sustainable development or its

environmental component. Environmental component of sustain-
able development has not yet found its place in the business policy
of the two national trading companies. Bearing in mind that mar-
ket competition is becoming more and more intense, and that, in
years to come, one can expect the arrival of new international
trade players on the Serbian market, focus on the concept of sus-
tainable development and its components, especially environmen-
tal, should be a priority in the creation of long-term sustainability
and long-term competitive advantages by national trading compa-

nies, especially those analyzed in this work.
CONCLUSION
In modern business conditions, the concept of sustainable develop-

ment becomes an unavoidable issue, both for theorists and for
practitioners. Sustainable development is an imperative of every
economy and every sector that wants to survive for long term and
communicate their value in the future. Within the concept of sus-
tainable development, it is necessary to harmonize its three
aspects, or dimensions, pertaining to economic, environmental,
and social area. It follows that these are three different approaches
that need to be linked and mutually aligned. Such a view of the
concept of sustainable development is largely based on the UN
Commission definition of 1987. It gave rise to a large number of
theoretical explications approaching the definition of the concept
of sustainable development from different aspects, which has been
the subject of analysis in the first part of the chapter. This part of
the chapter focused on closer theoretical explication of the concept
of sustainable development in trade, particularly retail. The neces-
sity of the application of this concept in trade stems from the fact
that it is an important economic sector, with a significant share in
GDP and total employment. Moreover, intense competition
between the leading retail chains emphasizes the concept of sus-

tainable development and its components. It is noted that retail
chains introduce principles of sustainable development into their
operations in different business stages, so today’s leading retail
chains closely monitor that their decisions are in accordance with
sustainable development. In support to this are sustainability
reports, regularly published by retail chains. In addition, accord-
ing to the RILA, retail chains incorporate the principles of sustain-
able development in their strategies, daily operational activities,
employee motivation activities, as well as relations with consu-

mers and the communities in which they operate. According to
RILA, key business trends in accordance with the principles of
sustainable development are vertical cooperation, that is, sustain-
ability projects covering the entire value chain, observing sustain-
ability as an opportunity for growth and business development,
rather than a tool for reducing costs and business risks, develop-
ment of a system for continuous business improvement, as well as
commitment to transparency. There is a whole range of benefits of
operating in accordance with sustainable development, which retail
chains recognize: efficient business, active risk management, source
of innovative business solutions, increased customer satisfaction
and loyalty of employees, easier access to new markets, entry into
new markets, and the like. These activities were presented in the
second part of the work, with a focus on the 10 leading retail
chains in the world (as seen by sales volume). An examination
of their sustainability reports points to all three components of
sustainable development.
In the second part, the research focused on environmental com-
ponent of sustainable development in trade. Subject of specific
analysis were ISO 14001 standards and their latest version, ISO
14001:2015. It was pointed out that the popularity of this stan-
dard is based on the fact that it provides numerous advantages to
companies, including trading companies, which tend to be socially
responsible. It is expected that the standard ISO 14001:2015 will
help trading companies adapt their environmental business policy

to their specific activities.
The third part of the work is related to the empirical analysis of
the application of environmental component of sustainable devel-
opment in the trade sector in Serbia. The empirical analysis was
carried out from two aspects. First, the significance of the trade
sector in Serbia through its share in GDP, number of companies,
and number of employees was analyzed. It was noted that the
trade sector in the last 15 years intensively developed, but that it
continues to present a number of structural problems.

Furthermore, regarding the implementation of ISO 14001 stan-
dards, trade sector recorded growth in the analyzed period (2009-
2014). Second, analysis focused on the largest trading companies
on the Serbian market (observed by sales volume). By analyzing
the content of their official websites, it was observed that four of
the seven analyzed retail chains applied environmental component
of sustainable development. In other companies, the application of
these components was not observed, nor of the concept of sustain-
able development.
The contribution of this work is reflected in expanding body of
research on the application of sustainability concept in retail
chains on the Serbian market. The research results present a basis
for further and broader research in this area. However, the limita-
tions of this study are reflected in the fact that empirical analysis
observed a relatively small sample of trading companies on the
Serbian market. Extending the study sample can give a fuller pic-
ture of the implementation of environmental component in trad-
ing companies on the Serbian market.
NOTE
1. Two documents were most responsible for the development of ISO

14000, namely, UN concept of sustainable development guided by the
Charter and the British Standard BS 7750 entitled “Specification for

Environmental Management Systems,” which was adopted in 1992.
EMS should be added as well, which was introduced in 1995 as an envi-
ronmental management program.
ACKNOWLEDGMENTS
The paper is part of the research within the Project No. 179081,
funded by the Ministry of Education, Science and Technological

Development of the Republic of Serbia.
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Sreten C¡ uzovic¡ and Svetlana Sokolov Mladenovic¡

The aim of this chapter is to highlight the importance of sus-

sustainable development, including all its dimensions. In this

of environmental component of sustainable development in

Keywords: Sustainable development; environmental

At the turn of the century, the concept of sustainability has

conditions, consumers are more sophisticated and aware of the

on the basis of clear and transparent rules of their establishment;

business of retail chains in Serbia like in the context of sustainable

TRADE AND RETAIL IN THE CONTEXT OF SUSTAINABLE

Development and application of the concept of sustainable devel-

In this regard, there have been numerous debates on sustainable

1987 (WCED, 1987). Based on their report UN General Assembly

Table 1. Deﬁnitions of the Concept of Sustainable Development.

Source: Sokolov Mladenovic¡ & C¡ uzovic¡, 2014.

implementing the concept of sustainable development in trade, espe-

Fig. 1. Components of the Concept of Sustainable Development.

reuse of products and packaging, reducing waste, increasing the use

Fig. 2. Model of Factorial Conditioning of Implementation of Sustainable

Environment Society Economy

Accountability and Regulatory compliance Third party auditing

Visible leadership Program management

aim is to mark the key elements of the application of the concept

1. Wal-Mart Stores, Inc. USA 482,130 √ √ √

ENVIRONMENTAL COMPONENT OF SUSTAINABLE

Solving environmental problems has been on the agenda of

belong to the so-called food retail sector focus on balancing the

reciprocal cause and effect relationships between economy and a

introduction of “polluter pays” taxes (C¡ uzovic¡ & Sokolov

storage, eco-quality in sales and distribution, eco-quality of prod-

increase of 6% compared to 2013 (The ISO Survey of

expected that ISO 14001:2015 standard will help companies adapt

Starting from the previously analyzed theoretical aspects and con-

companies in Serbia in the context of sustainable development

Economic Performance of the Trade Sector in the

Economic development of the Republic of Serbia in the last 15

10.00 9.80 9.80

appearance of cash and carry formats in wholesale and retail

Table 3. Total Number of Companies in Serbia and the Number of

2012 2013 2014 2015

Total number of companies in the 93,369 94,362 93,759 92,842

Table 4. Total Number of Employees in Serbia and the Number of Trade

2012 2013 2014 2015

Total number of employees in the 1,010,000 991,030 976,061 992,531

formats, insufﬁcient development of all forms of electronic com-

environmental component. In this regard, the already discussed

Institute for Standardization, which is permanently working on

Table 5. Number of Certiﬁcates Issued in the Republic of Serbia in

Standard 2010 2011 2012 2013 2014

Table 6. The Certiﬁed Quality Management Systems in Serbian Trade in

2010 2011 2012 2013 2014

Source: Authors’s calculation based on http://www.kvalitet.org.rs/standardi, http://www.pks.rs/

Environmental Component of Sustainable Development in

Another aspect of analysis of implementation of environmental

Table 7. The Largest Retail Chains on the Serbian Market, 2014.

No. Company Business Income in 2014

1. Delhaize Serbia 76,8

environmental component of sustainable development, that is,

company that cares for the environmental component of sustain-