Minister Julian Popov: Energy is the key factor for achieving climate neutrality

27 Mar, 2024 | 13:29

"Energy is the key factor that will enable us to move towards lower emissions and achieve the goal of climate neutrality or 'Net Zero' in 2050." This was stated by the Minister of Environment and Water Julian Popov at the opening of the forum "ESG and Renewable Energy Generation. Opportunities and Challenges", organized by the newspaper "24 hours" and the United Bulgarian Bank (UBB).

"Very often this target is seen as a burden on the industry, but what we are hearing from the bank and from the financial sector is a clear signal that it is actually not a burden, but an extremely interesting opportunity. This is the right direction not only in the development of the energy sector, but of the industry in general," Minister Popov pointed out to those present at the forum.

He highlighted that the climate targets that have been set at the global level largely determine the future of industry and energy. "We often turn a blind eye to this fact because we know we have coal for 60 years. We imagine that when we stop burning this coal, we will turn it into gas. Then we will put this gas underground and so we will live with this coal forever, but this is really a heavy illusion that is being developed populistically," assured Minister Popov.

According to him, the right direction is to invest heavily in renewable energy, and not only in the photovoltaic sector, but also in other sectors that are important for the development and preservation of Bulgaria's place in the regional energy sector.

Minister Popov defended the argument that it is necessary, first of all, to accelerate the development of wind energy in order to get a relative balancing, and second - to have a serious approach to the electricity transmission system and energy efficiency, which almost entirely depends on the financial sector. "We need to use the instruments of the financial sector so that energy efficiency can be financed by private capital, because this is the future," concluded the Minister.