Bulgaria Shows Promise in Green Transition but Faces Challenges

Society » ENVIRONMENT | December 6, 2023, Wednesday // 08:36
Bulgaria: Bulgaria Shows Promise in Green Transition but Faces Challenges @Pixabay

Professor Daniela Bobeva, speaking ahead of the annual scientific conference on Economic Development and Policies, highlighted Bulgaria's advancements in the green transition. Bobeva praised the effective efforts of financial institutions in fulfilling commitments and noted the private sector's rapid shift toward self-financing green projects.

Despite progress, Bobeva pointed out that Bulgaria trails in circular economy metrics and waste management compared to other countries. However, she expressed confidence that swift and effective measures could address these shortcomings.

Bobeva acknowledged Bulgaria's strides in renewable energy sources but highlighted a drawback - the collapse in prices causing operational challenges for many photovoltaic systems. She cautioned against the pitfalls of overly rapid transitions, leading to economic sector bubbles.

A significant concern raised by Bobeva was the technological gap between ambitions and reality, particularly questioning the status of hydrogen and battery technologies within the country.

She recommended a reconsideration not only of the reform approach but also its pace, stressing the need for a balanced strategy to avoid such economic vulnerabilities.

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Tags: green transition, circular economy, renewable energy, Bulgaria

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