The aim of this paper is to present a new method of copolymerization of glycolide with L-lactide with the use of low toxic iron compounds. The use of Fe(acac)(3) and Fe(OEt)(3) initiators enabled one to obtain copolymers with yields up to 100% and possessing good mechanical properties. The chain propagation process and the influence of the transesterification was examined. On the basis of NMR examination and DSC thermograms, it was shown that the samples obtained at the temperature of 100 degreesC with the use of the initiators have quasi-segmental chain microstructure.