We were pleased to be part of the fourth edition of the “Green Transition Forum 4.0” dedicated to the coming into force requirements for EGS. We share with you briefly some of the topics that were on the first day of the conference.
Achieving the standard of zero carbon emissions, also known as Net 0, has a political and economic cost, not only within individual countries, but also on a European and global scale. Compliance with decarbonisation norms makes production more expensive and makes it uncompetitive with goods produced in non-EU countries. The business costs of making and certifying a green product are not small.
One possibility is the granting of government subsidies to socially responsible companies or protectionism. There is another problem within the EU – the uneven application of state aid. In this way, a metallurgical plant in Germany gets a technological advantage because of the subsidies, over an enterprise from Bulgaria. Support from the state is needed to maintain the competitiveness of individual sectors that produce low-emission goods and services.
To lighten the supply chain, there must be a sustainable source of raw materials. However, gaining an understanding of the need for sustainable manufacturing practices in third countries (non-EU) will take time.
The conference also focused on the upcoming accounting of corporate governance from the perspective of environmental and social practices. The Bulgarian Stock Exchange in cooperation with the London Stock Exchange is preparing an index for rating the companies whose shares are traded. A number of financial institutions are also working in this direction. UBB in cooperation with Coca-Cola is developing a calculator for carbon emissions – own and of the supply chain, which will be freely usable. In the banking sector, there is also an assessment of clients from an ESG point of view, and the risk has long been more than just financial. The transition to a green economy and technology is changing consumer behavior and, along with a significant number of new, complex regulations, poses a number of challenges for businesses.
In a separate seminar, the Findings.co cloud platform was presented, which already works with leading exchanges such as Nasdaq, LSEG, TASE. The system has language localization, customization options, scaling and analysis of information from various sources – Excel tables, PDF files, chat with customers
Green Transition Forum 4.0
