Public-Private partnerships for sustainable finance and energy

UniCredit Bulbank AD
Wed, 30/03/2022

Eye on ESG: Green Centre think tank in Bulgaria

The Bulgarian Stock Exchange, being in the heart of the Bulgarian capital market infrastructure, has strengthened its focus on ESG by initiating the establishment of the Green Centre for sustainable finance and energy in partnership with business and academia.

The Centre’s mission is to create a supportive environment for discussing and developing policies for sustainable finance and energy in Bulgaria, which, in turn, can assist the country in its smooth transition to a green economy. The Green Centre will be acting as a pipeline for transferring examples of good practice in these fields directly to stakeholders. An important part of the Center’s mission is to encourage the development of a legislative framework in the area of environmental, social and corporate governance.

The Green Center will allow ESG to increase in popularity in Bulgaria by raising relevant topics to the attention of decision-makers and business organizations fostering active debates and collaboration at all levels. Furthermore, the Center will represent Bulgaria in the European and global networks for sustainable finance and energy, which will strengthen the country’s presence in these networks and increase the potential for international partnerships.

The Green Center will also include a strategy for the adoption of guidelines for ESG disclosure and reporting and constitutes the base for the first Green Index in Bulgaria whose methodology and composition of financial instruments will be based on sustainability factors. The purpose of the index will be to include the best performing companies in the market in terms of ESG, thus encouraging the wider recognition of green practices in business.

Achieving a better and more sustainable future for the Bulgarian society and economy is the main focus of the established Green Center. The member institutions, with the Bulgarian Stock Exchange being foremost, will leverage on local and international expertise in order to support companies in developing a full-scale ESG culture.