In a joint session during the two-day informal meeting in Valladolid, Kingdom of Spain, EU Environment and Energy Ministers discussed expectations for the outcome of the upcoming UN Climate Change Conference (COP28) to be held in Dubai in the end of 2023.
Bulgaria maintains the opinion that it is important to ensure a balance between the main negotiation issues, by not allowing the financial aspect of the negotiations to become an absolute priority at the expense of other fundamental topics such as mitigation, adaptation, global review of progress. Regarding financial arrangements, our country believes that financial assistance should be targeted as a priority to countries and communities that are particularly vulnerable to the adverse effects of climate change, including the least developed countries and small island states.
Within the framework of the meeting, the upcoming COP29 conference in 2024 was also discussed. Minister Julian Popov confirmed that Bulgaria maintains its candidacy, regardless of the blocked process and the impossibility at this stage of making a decision on hosting: "It is important for Bulgaria to hold COP29 in Eastern Europe, with our country positioning itself as an exponent and a driving force in terms of the region's interests and priorities," Minister Popov pointed out.
The final decision on the hosting of COP29 is to be made at the latest during COP28 in Dubai.