Minister Popov at COP28: The world needs to invest heavily in research and innovation for the transition to a carbon-neutral economy

08 Dec, 2023 | 09:37

“The world needs to invest much more in research and innovation for the transition to a carbon-neutral economy.” This was one of the highlights by Julian Popov, Minister of Environment and Water, Bulgaria, who delivered the closing keynote speech at the XIV World Climate Summit - the Investment COP 2023, hosted by the World Climate Foundation in Dubai.

Minister Popov also emphasised that carbon is becoming a new global currency and carbon allowances will penetrate all our economic activities. We therefore need to plan for the future. He stressed that entrepreneurs and businesses are the drivers of the decarbonisation process today, warning that governments are lagging behind.

"In the past fifteen years the energy economy turned upside down. Many companies and governments have not yet realised this fact", he added. Minister Popov made an appeal, declaring that "rich countries should invest in research and innovation in poorer countries, instead of making unaccountable donations".

As the largest B2B convenion alongside COP28, the World Climate Summit facilitates the exchange of best practices and innovations across vital sectors crucial for decarbonisation efforts in the areas of energy, transport, buildings, industry, finance and nature.