Bulgaria has already paid the bill for reducing emissions

Bulgaria’s economy has already paid, in excess, the price of the so-called surplus emission rights, announced the Bulgarian Industrial Association (BIA). This position was voiced after a meeting between BIA Vice President Dimitar Brankov and EU Climate Action Commissioner Connie Hedegaard. “This price cost us a double contraction of GDP, job losses, low incomes and huge emigration of more than 1.6 million people over the last 20 years,” said Brankov. This is why Bulgaria should now take advantage of the sale of its reserve and use the money to finance energy efficiency projects, the generation of electricity from renewable energy sources, taking into account the high energy intensity of the Bulgarian economy,” pointed out Brankov.

According to Hedegaard, the quantities of EU Emission Unit Allowance (EUA) of over 2 billion tonnes of CO2 available to Bulgaria and other major emitters create a risk of causing the global and European emission market to collapse. “There is no need to reduce CO2 emissions in Bulgaria in 2020 by nearly 50%, compared to 1988 and by about 37%, compared to 1990, considering that the total target for the EU is 20%,” said Dimitar Brankov.

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