site.btaBulgarian Pavilion at COP29 Hosts Launch of Initiative for Equitable Climate Finance

The launch of a global initiative for equitable climate finance that is accessible to women around the world was held at COP29 in Baku at the Bulgarian pavilion on Thursday. The initiative, organized by the Ministry of Environment and Water, by Sofia University St. Kliment Ohridski and the Green Transition Forum, was launched with a discussion entitled Women and Climate Finance, which attracted participation from various governmental, financial and scientific organizations.

The initiative calls for gender-balanced representation in climate negotiations and decision-making institutions, for appointing both men and women as co-leaders of institutions, building structures to accelerate investment and strengthen women's financial capabilities, for encouraging private organizations to increase their support for women in climate action.

Monika Stanisheva, co-founder of the Green Transition Forum and member of the Scientific Council of COP29, told BTA that the Bulgarian initiative for equitable access to climate finance already enjoys the support of 15 organizations. The goal is to mobilize broad support in the coming months leading up to COP30 in Brazil. Stanisheva said: "COP29 has been called the financial COP because it has set big goals for financial responsibility and determination to support developing countries. In my view, no meaningful change is possible if we abandon the issue of equitable climate finance, as that would mean abandoning half the population of the planet." She quoted statistics, according to which less than 2% of EU funding goes to women.

Assoc. Prof. Marina Stefanova, Vice-Dean Sustainability, Empowerment, and Engagement at Sofia University, said that the goal of the initiative is to put women at the centre and to appreciate all their roles - as a person who takes care of the family or masters new skills for the sake of economic opportunities, as an entrepreneur. "Women have the potential to be leaders of change, in politics, in their communities, in public life," she added.

Deputy Minister of Environment and Water Reneta Koleva said that climate change affects everyone but not evenly. Women are often on the front lines of crisis and disaster, protecting their families, homes and communities. She praised Bulgaria for being among the leading EU Member States in terms of women's participation in science.

Ambassador Venera Domi, Executive Manager at the Organization of the Black Sea Economic Cooperation, said that while she is no feminist, she is an advocate for the rights of women who have been left behind. She pointed out that women should be empowered and included in all aspects of public development.