Minister of Environment and Water Julian Popov met today with the European Commissioner for Climate Action Wopke Hoekstra on the strategic role of EU carbon policies and their impact on European competitiveness.

During the exchange, Minister Popov highlighted that instruments, such as the Emissions Trading Scheme (EU ETS) should not be seen as a regulatory burden, but as a powerful driver for technological modernization and economic security. The debate on the future of the EU ETS should emphasize the fact that the Scheme is a significant source of revenue for each Member State and the possibility for these revenues to activate additional investments in the decarbonization and modernization of European industry should be a top priority in the dialogue on this instrument.

According to Julian Popov, the transition to net zero emissions is a fundamental opportunity to attract capital and implement innovations that will put European industry at the forefront of the global clean economy and at the same time increase economic growth and enhance energy security. In parallel, ensuring high interconnection by increasing existing electricity transmission capacities, while addressing the causes of non-technical capacity constraints of the existing infrastructure, should be the main tool for addressing high electricity price levels.

Minister Popov stated that Bulgaria is actively seeking the most effective mechanisms within the European framework to support industrial decarbonization and the development of clean technologies. He stated that ambitious climate action and improving the competitiveness of industry go hand in hand, ensuring sustainable growth and long-term stability for Bulgarian and European businesses in the new industrial era.

The two also discussed the current opportunity for the rapid construction of electricity storage facilities and photovoltaic power plants as a chance for the EU to increase its access to critical and strategic materials and resources and to secure part of its future needs by developing its capacity to recycle these products in the nearest future. Julian Popov emphasized Bulgaria's strong position to develop and operate innovative solutions in the sector, supporting this strategic priority of the EU.