Excellencies,

Ladies and Gentlemen,

 

Let me first extend my sincere appreciation to the President Abdel Fattah El-Sisi for the excellent organization and for the hospitality and to the President Sameh Shoukry for the constructive dialogue. 

 

COP 27 is taking place in dramatic times, marked by deteriorated security environment and increased geopolitical challenges induced by the war in Ukraine, severe energy, economic and social crises.

 

We should not, however, let all those crises derail our joint determination to fight the climate change, particularly having in mind the many recent unprecedented climate disasters. 

 

The most reliable scientific sources clearly show that the climate resilient development is put at risk under the current global warming levels. 

 

We must unite our efforts and use the time we still have to avert the worst effects of the climate change. Climate change is a global threat and can only be addressed by a global response.

 

Bulgaria is strongly committed to the goals of the Paris Agreement. My country will jointly deliver, together with the other EU member states the goal of climate neutrality by 2050.

 

Bulgaria’s greenhouse gas emissions in 2020 decreased by 57 % compared to the base year. We overachieved our national target on the share of energy from renewable sources in the gross final energy consumption by 7% with a share of 23% in 2020.

 

Diversification of energy supply is crucial and my country has already increased its efforts to ensure better inter-connectivity with neighboring states. The Interconnector Greece-Bulgaria (ICGB) which was inaugurated on 1st of October this year significantly strengthens the security of gas supply not only for Bulgaria but for the whole region of South-East Europe and beyond.

 

Ensuring just transition involves enhanced technologies and systemic innovation across all sectors. 

 

Bulgaria will further develop and rely on renewable energy, green hydrogen solutions and energy saving and energy storing technologies. 

 

Scaling up global mitigation ambition is not enough. The Mitigation Work Programme is an instrument to address both the ambition and the implementation gap through increased action by all stakeholders, revision and transition to economy-wide targets. 

 

We need to broaden and strengthen the adaptation agenda, and the Glasgow-Sharm-el-Sheikh work programme on the global goal on adaptation will allow us to do so.

 

The transition towards a resource-efficient, green and low-carbon economy requires significant interaction between policies, investments, science and public sector. General transformation is only possible with the involvement of the private and financial sectors and is expected to provide an important opportunity for sustainable development. 

 

Finally, given our commitment to advancing the climate agenda in our region and beyond, Bulgaria has already indicated willingness to host COP29. We will reach out to our partners to shape a motivated proposal with regard to this.

 

Thank you for your attention!