Central and Eastern Europe (CEE) is poised to become a global leader in green technology, writes the Recursive.
CEE is leveraging its natural resources, educated workforce, and growing ecosystem of sustainable startups. However, regulatory barriers, funding constraints, and insufficient infrastructure remain significant challenges.
There is a demonstrated need for developed capital markets to support the green transition and digitalization. Underdeveloped capital markets and pension systems have been proven to be obstacles to sustainable financing for green initiatives.
Despite these challenges, momentum around climate tech is growing. Success in this area requires coordinated efforts among private equity funds, early-stage venture capital, and government programs. Establishing dedicated climate tech funds, prioritizing climate tech in research, leveraging technical expertise, and implementing supportive regulations are critical steps. Additional wind and solar capacity could reduce CEE power prices by 29%, demonstrating the practical benefits of the green transition.
The Green Transition Forum in Bulgaria aims to be a vital platform for stakeholders to collaborate on innovative solutions. This year’s forum features a special session, “Unlocking Potential: Driving Innovation in Central and Eastern Europe.” It is moderated by Irina Obustarova, Co-founder and CEO of The Recursive. Speakers include Iliana Ivanova, European Commissioner for Innovation, Rosen Karadimov, Bulgaria’s Minister of Innovation, Svetoslava Georgieva, Chair of the EIC Fund Board, and Jason King, CEO of Yettel. They will provide insights into the current state of green tech in CEE, necessary policy frameworks, and innovative initiatives.
Key sessions will cover mobilizing capital for green projects, the Eastern European agenda in COP29, renewable energy, urban sustainability, nuclear power’s role in decarbonization, sustainable agriculture, and digitalization trends in CEE. Aligning the efforts of founders, investors, corporates, policymakers, and EU representatives is crucial for creating a supportive ecosystem for green tech innovation.
By uniting key stakeholders from government, industry, and academia, the forum aims to unlock the green tech potential of Central and Eastern Europe. The collaborative discussions will shape the region’s sustainable future, drive innovation, and ensure that CEE competes on the global stage. As the region navigates the complexities of the Green Deal, the Green Transition Forum stands as an essential platform for exchanging ideas, addressing challenges, and realizing sustainable solutions.
