2024 is the most important for ESG regulations in Europe

Bulgaria is perhaps one of the few countries in the EU where the topic of solar installations is so politicized. Recently, this was also proven through the topic of agrovoltaics. New legal changes were recently made, less than two months after the previous ones were sent to the Constitutional Court by President Rumen Radev.

It has taken longer than necessary for the EU to realize that it will hardly be able to achieve net zero emissions without massive investment in the backbone of European energy – the grid. A few days ago, the EC announced a plan to modernize the electricity transmission network for almost 600 billion euros. If the plan is implemented, countries like Bulgaria will be able to improve transport and electricity production. According to the plan, the measures should be implemented in 7 years to meet the increase in demand for energy from RES

What happened

The prices of carbon allowances and natural gas in Europe have fallen in recent weeks. This is especially true for CO2 allowances, which have largely collapsed since the summer of the European market in Leipzig. And as far as natural gas is extremely difficult to forecast, we at “Capital” predict that the carbon quotas can rise as early as the beginning of 2024. for several reasons.

In Bulgaria, the subject of ESG reporting is underestimated, but it is more than clear that this will not be the case forever. 2024 is extremely important for all EU countries from the point of view of ESG regulations, because of the transposition of the CSRD directive, which is the strongest tool of European bureaucrats to impose certain regulations on business. The material draws attention to the key changes for 500 companies in Bulgaria that will start new green reporting. This whole thing is happening in a period of uncertainty about the huge changes and large doses of greenwashing being poured out by institutions, consultants, regulators and big business itself.

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