Sustainability and partnerships are at the foundation of the competitiveness of businesses. This was the joint conclusion drawn by all participants in the Sustainability Academy: The Way to Sustainable Practices and Processes event, organized by United Bulgarian Bank (UBB), part of the KBC Group in Bulgaria, and Cleantech Bulgaria. The forum was held in Veliko Tarnovo town, and gathered representatives of businesses, institutions and the community of experts. Within its agenda there were discussions held on key topics, linked to sustainable development and the green transformation.

„Small and medium-sized enterprises (SMEs) are the backbone of the Bulgarian economy, and our aim is to support the sustainable development in its becoming an effective opportunity, and not an obstacle. To us sustainability is not an abstract concept, but part of the daily solutions, through which we manage our business. This is not a modern buzzword or a one-time project, but the way in which we successfully maintain the balance between the economic effect, people and the environment. When we make decisions, we want to see the long-term effect of investments.“, shared Diyana Dimitrova-Kamenova, nominated for Executive Director SME Banking at UBB, who declared the event open.

Ms. Mariyana Hamanova, Executive Director of Cleantech Bulgaria, added in her turn that the Sustainability Academy continued being a successful project and emphasized on the awareness of businesses that sustainability was not a temporary trend, but effective management of resources, cost reduction and introduction of processes that would lead to better economic indicators for small, medium-sized and large enterprises. Ms. Mariela Tsoneva, Deputy Mayor Strategic, Territorial and Investment Planning and Control at Veliko Tarnovo Municipality shared that the sustainable development of Veliko Tarnovo Municipality could not happen without the help and the intense dialogue among all key stakeholders – institutions, businesses, the non-governmental sector and individuals.

In his address to the audience Mr. Aleksandar Peev, General Manager Sustainable Development at KBC Group Bulgaria emphasized that the largest resource mankind had was the ability to adapt, to find technology-based solutions and apply those, as the sustainable development meant being adaptive and prepared – qualities, which could ensure stability at turbulent times. The lecture by Dr. Emil Kalchev, PhD, Chief Economist of UBB, aroused tremendous interest, as he provided in-depth analysis of the macroeconomic situation, the labour market data, inflation, interest rates of banks and the attitude of businesses. He delineated a business environment, characterized by dynamics and uncertainty. According to the presented forecasts the economy would continue growing at a moderate pace – by around 2.7% in 2026, upon an inflation of approximately 3.9%. That, in Dr. Kalchev’s words, required better planning, effectiveness and sustainable strategies on the part of businesses.

The event evolved into a discussion panel, moderated by Ms. Mariyana Hamanova, Executive Director of Cleantech Bulgaria, involving Mr. Dobromir Simidchiev (Hydrolia AD), Ms. Maya Krasteva (Inova Top Green EOOD), Mr. Mitko Tsonev (Valkrea EOOD) and Mr. Martin Minkovski (UBB), who presented various aspects of the sustainable development, linked to the management of water resources, energy efficiency, smart buildings and financial instruments in support of businesses.