Impact of Risk and Uncertainty on Sustainable Development of Kolubara Lignite Basin

Abstract

The paper analyzes the various risks and uncertainties and their possible impact on the future development of the Kolubara lignite basin area (Belgrade metropolitan region). What has been examined are the risks caused by the global financial crisis to investments in coal exploitation and processing and the construction of new gas pipelines; the possible change in the preference of international actors for investing in the coal exploitation and processing in the Kolubara basin; the major strategic options in Serbia's energy supply; "acquis communautaire" in the energy field and environmental protection and planning, The Energy Community Treaty of South East Europe, the Kyoto Protocol, the impact of price policies on coal and electric energy, restructuring and the privatization of the public enterprise "EPS" and "Kolubara", aplication of Operational Directive WB of Involuntary Resettlement and Operational Policy on Involuntary Resettlement. The basic findings have been pointed out: the new development pattern must adhere to all the standards that are prescribed by the international commitments that Serbia has undertaken and the new development model requests significant institutional and organizational adjustments in the field of development management of the Kolubara coal basin complex.