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Vol 14, 2025
Pages: 135 - 140
Professional paper
Economics and Management Editor: Darjana Sredić
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Received: 20.08.2025. >> Accepted: 18.09.2025. >> Published: 21.11.2025. Professional paper Economics and Management Editor: Darjana Sredić

CO-AUDITING AS A TOOL FOR ASSESSING AND SHAPING LONG-TERM SUSTAINABLE BUSINESS STRATEGIES

By
Andrea Andrejević Panić ,
Andrea Andrejević Panić

Faculty of Business Studies, Educons University , Kamenitz , Serbia

Slobodan Cvetanović ,
Slobodan Cvetanović
Contact Slobodan Cvetanović

Faculty of Business Studies, Educons University , Kamenitz , Serbia

Aleksandar Kostić
Aleksandar Kostić

Faculty of Economics, University of Prishtina , Pristina , Kosovo

Abstract

Intensive activity in operationalizing long-term sustainable business strategies and the increasing technological and commercial affirmation of many of its tools have enabled the emergence of eco-auditing as a process for assessing the environmental performance of organizations, products, or services with the aim of improving the environmental aspects of business. The comprehensiveness of eco-auditing refers to the thoroughness of the assessment, including analysis of environmental impact, compliance with legislation, and identification of opportunities for more sustainable practices.

The paper first reflects on the role of eco-auditing in organizations to:

  1. identify environmental risks,
  2. improve compliance with legislation and standards,
  3. enhance competitiveness, and
  4. build trust with consumers and partners by demonstrating responsibility toward the environment.

The emphasis of the paper then shifts to explaining the key standards of eco-auditing and providing practical examples where this tool serves as a foundation for sustainable business and environmental protection. Finally, focusing on the construction industry and companies using the Leadership in Energy and Environmental Design (LEED) standards for design and construction, organizations from Serbia and Bosnia and Herzegovina that have undertaken the LEED certification process are highlighted as tools to improve building energy efficiency and sustainability.

References

Bansal, P., & Roth, K. (2000). WHY COMPANIES GO GREEN: A MODEL OF ECOLOGICAL RESPONSIVENESS. Academy of Management Journal, 43(4), 717–736. https://doi.org/10.2307/1556363
Delmas, M. A., & Toffel, M. W. (2008). Organizational responses to environmental demands: opening the black box. Strategic Management Journal, 29(10), 1027–1055. https://doi.org/10.1002/smj.701
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European Commission. (2020). Eco-Management and Audit Scheme (EMAS). Retrieved 18.07.2025. from https://ec.europa.eu/environment/emas/.
Green Building Council Bosnia and Herzegovina. (2022). Sustainable architecture in BiH. Retrieved 01.08.2025. from https://www.gbc-bih.org.
Hilary, R. (1997). Environmental auditing. London: Earthscan Publications.
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MPC Properties. (2023). Green building projects. Retrieved from 04.08.2025.  https://www.mpcproperties.rs.
Pokrajac, S. (2001). Menadžment i promena i promena menadžmenta. Beograd: Topy.
US Green Building Council. (2021). LEED v4 for Building Design and Construction. Retrieved  02.08.2025. from https://www.usgbc.org/leed.

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