Why is COP 26 a chance for Bulgaria and the world to make important commitments to limit global warming? What is sustainable finance and why is it an important part of the fight against climate change? How can every individual and business help tackle climate change? What is the link between the climate crisis and the biodiversity loss problems? What are successful examples of energy reform and energy transition?
In search of good examples and solutions, MOVE.BG together with the Embassies of the UK and Italy has organized a special conference "The Road to COP 26: The Choice of Bulgaria". The event, which took place on September 28, was dedicated to Bulgaria's preparations for the UN International Climate Change Conference COP 26, co-organized by the UK and Italy.
Between 31 October and 12 November in Glasgow, for the first time, real commitments will be made under the current protocol to the United Nations Framework Convention on Climate Change (UNFCCC) - the Paris Agreement, which aims to limit global temperature rise to 2 degrees by 2050 and aim for 1.5 degrees by 2100. The conference "The Road to COP 26: The Choice of Bulgaria" brought together diplomats, politicians, scientists, business representatives, and environmentalists around the important conversation about Bulgaria and climate. The forum included three parts: the "Time to Action" panel presented the vision of UK and Italian diplomats, and MOVE. BG's motivation for the importance of the COP 26 conversation in Bulgaria, the "Bulgaria's Choice" part brought together leading policymakers and experts in a roundtable discussion, and the panel - "The Road to COP 26: Together We Can Do More" - presented the vision of five leading global experts from the world and Bulgaria on the topics of "Mission COP 26", "Mission Sustainable Finance", "Mission Adaptation", "Mission Biodiversity", and "Mission Energy Transition".
"The climate and the planet are under threat. A threat that we are posing with our human industrial activity. How to stop the process, which in a Bulgarian proverb has a very accurate image - how to stop cutting the branch on which we are sitting, is a question that requires a qualitative answer and inspiring solutions. That's why in this panel we will hear solutions from the experts - something MOVE.BG is very keen on. We start with David Moran - COP 26 Regional Ambassador for Europe, Central Asia, Turkey, and Iran," said Irina Nedeva, moderator of the discussion and President of AEJ-Bulgaria.
Mission COP 26
"This summer has been a difficult one for the Balkan region with a number of record high temperatures and significant forest fires which have unfortunately also resulted in human casualties, including a small number in Bulgaria," said Mr. Moran, adding:
"We must do everything we can to limit the average global temperature rise to 1.5 degrees by the end of the century. This will require us to achieve carbon neutrality by 2050 - a balance between carbon dioxide produced and absorbed. For this to happen, we need to halve carbon emissions by 2030 - just nine years from now.
So success in Glasgow means clear commitments."
Mission Sustainable Finance
Hristina Pendicheva, Head of the Sustainable Finance Subgroup at the Ministry of Finance, outlined the main trends and challenges for the topic, commonly known in Bulgaria by its English term sustainable finance:
"A major challenge facing the financial sector is gaining knowledge about the impact of climate risks on the activities of real sector companies, as well as the impact of companies' activities on the climate.
To be able to set targets to reduce climate risks and to be able to account for both physical and transitory risk in asset prices, financial institutions need to start monitoring and measuring them."
Mission Adaptation
Lyubomila Yordanova, founder of Berlin-based startup with Bulgarian roots Plan A, stressed the need to listen to science and gave advice on how businesses can reduce their carbon footprint:
"How can a company take action to be more sustainable or environmentally friendly?
The first and most important thing is to take steps towards a basic understanding of what climate change is - that means a company needs to understand how it actually impacts nature. The second key thing is to follow the science. The third thing is that we start to implement real steps to reduce our emissions. And finally, being prepared for the regulations that are coming into force soon."
Mission Biodiversity
Vesselina Kavrakova, Executive Director of WWF Bulgaria, pointed out the challenges before the important and climate-related crisis of loss of plant and animal species:
"Ecosystems, just like us, are affected by climate change. But nature is also our greatest ally in the fight against the climate crisis.
Preserving and restoring natural ecosystems is an indispensable step towards our common goal: making Europe a climate-neutral continent."
Mission Energy Transition
Michele de Nigris, Director of Sustainable Practices and Energy Sources at the Italian energy company RSE, spoke in detail about the energy transition in Italy and the changes in their energy mix, emphasizing the key role of science and innovation in these processes:
"Today, more than ever, the role of governments is crucial as we need ambitious and long-term plans that will shape the future of our planet.
Particular attention must be paid to prioritizing and sustaining research so that innovative solutions can become competitive [...]
We need to align our ambitions, harmonize standards, share best practices, capitalize on research and innovation and support major investments."
Watch the full expert presentations in the VOD of the conference "The Road to COP 26: The Choice of Bulgaria" here (in the Bulgarian language).
