site.btaEnvironment Minister: Green Transition Means Developing Industries in Sustainable Way

Environment and Water Minister Manol Genov believes that the green transition does not mean abandoning industries, but rather developing them in a sustainable way. “The green transition and decarbonization provide an opportunity for a sensible, cost-effective and sustainable new model of development which we stand to gain from, by protecting the environment and our future,” Genov said on Thursday, speaking at the Green Transition Forum 5.0: Competitiveness and Innovation in Central and Eastern European Countries. He took part in a panel on promoting clean industrial decarbonization.

The minister noted that Bulgaria’s extracting industries are of key importance for the economy and for providing materials for the new green technologies and policies. “Through innovation, digitization and responsible governance, the sector can drive forward the transformation to a low-carbon, circular economy. Clean industry means lower energy costs over the long term, lower risks of regulatory penalties and fees, digitization, access to new markets and consumers,” he argued.

According to Genov, Bulgaria has called on more than one occasion for a “balance between ambition and pragmatism” on the matter. Business and industry need a predictable regulatory framework for a period of 10 years at least, he added.

“Policies should take account of the voice of the business community and the varying conditions in the EU member states,” Genov said. He noted the difficult and fragmented funding of the green transition and stressed the need to seek a balance between environmental protection, development and social justice.

The Green Transition Forum 5.0, underway at the Sofia Event Center, will continue until June 20. It is organized by the eponymous association and the Dir.bg internet portal. The Bulgarian News Agency (BTA) is a media partner.