The strategic determination of Montenegro, as a signatory of the Paris Agreement, a member of the Energy Community (EC) and a candidate for EU membership, is to base the development of the energy sector on the principles of decarbonization and green energy transition, announced the Minister of Capital Investments, Ervin Ibrahimović.
At the Western Balkans ESG Summit, he said that Montenegro's strategic commitment is to attract investments for the implementation of green energy projects.
"Environment, society and governance cannot be viewed separately, and we must act responsibly towards the potential that each country has," stated Ibrahimović at the panel "Net Zero roads - decarbonization of the economy by 2050".
He reminded that the goal of the EU is to be climate neutral by 2050, that is, to have an economy with zero net emissions of greenhouse gases.
This goal, as stated by Ibrahimović, is in line with the EU's commitment to global climate action, the Paris Agreement and is the core of the European Green Deal.
Ibrahimović stated that the Green Agenda for the Western Balkans is foreseen by the European Green Deal.
As he said, by adopting the Green Agenda, the countries of the Western Balkans accepted the plan for transition from the traditional economic model.
Inrahimović said that the countries of the region thus assumed the obligation to implement measures in the area of climate change and pollution prevention, in the areas of energy development, biodiversity, mobility and circular economy, sustainable agriculture and food production.
In this way, as he added, they undertook to put sustainable development, saving resources, nature protection and reducing the risk of climate change at the center of all economic activities, as well as harmonizing with EU goals.
"As a signatory to the Paris Agreement, a member of the EC and a candidate for EU membership, Montenegro's strategic commitment is to base the development of the energy sector on the principles of decarbonization and green energy transition," said Ibrahimović.
He added that the energy sector has a dominant influence on the development of the green economy in Montenegro and the achievement of national sustainable development goals.
"In accordance with the European Green Deal and EU energy policy, we plan further development of the energy sector through decarbonization and green economic transition, increasing the use of energy from renewable sources, improving energy efficiency," said Ibrahimović.
He said that Montenegro harmonizes its energy policy and regulations with EU policies and legislation in the field of energy, climate and environment.
"Consequently, he is working on the preparation of the first national energy and climate plan, which will be the main strategic document in the field of energy until 2030," said Ibrahimović.
According to him, taking into account the goals of sustainable development, EU requirements and available natural and economic resources, Montenegro aims to become a country of low-carbon development in the near future.
"In addition, we are working intensively on harmonizing Montenegrin regulations with EU regulations in the field of energy efficiency," added Ibrahimović.
He said that the decarbonization of the energy sector in Montenegro largely depends on the future operation of the Thermal Power Plant (TE) Pljevlja.
Pljevlja thermal power station, as he stated, is extremely important for the energy stability of Montenegro.
"When we talk about the green transition, it can only be successful if it is fair. "Montenegro, as an ecological country, will continue to protect the environment," said Ibrahimović.
He said that Montenegro has over 265 sunny days a year.
"Certainly, hardly any country can boast of that, and that means an exceptional potential for solar energy production," said Ibrahimović.
He stated that Montenegro, on the other hand, is extremely rich in water potential.
"Montenegro has something to offer businessmen," said Ibrahimović.
The Executive Director of the Electric Power Company of Montenegro (EPCG) Nikola Rovčanin said that the green transition should be implemented in a very short time, which is a challenge considering expectations, legislation, directives and the obligations of Montenegro.
"Somewhere, perhaps, at the very beginning, I saw it as a certain problem, but as time goes on and as we entered dozens of projects in the field of renewable energy sources, it is really not a problem, but a great chance for the economy, new jobs, young people" , said Rovčanin at the Green Transition panel - a boost to the economy with zero gas emissions.
As he said, EPCG has launched a number of projects in the field of renewable energy sources, and work is also underway on the adaptation and reconstruction of existing facilities.
Rovčanin said that the problems are of an administrative nature, and there are also those related to finances, in terms of increasing interest rates.
He stated that the state legislation was not ready for a quick energy transition, but that certain developments are now taking place.
"If we want to implement large investments, which are valuable, quickly, we must make certain interventions related to the legislation", Rovčanin believes.
He said that foreign investors are very interested in investing in Montenegro, especially considering the potential in the fields of hydro, wind and solar energy.
"A fair transition is not something that can be expected in a year or two, it is a process, but what is important is that we should not stand still, but strongly start investment cycles," Rovčanin said.
He stated that EPCG managed to overcome the energy crisis, not stopping the investment cycle, but maintaining the stability of the energy system, without restrictions, as well as not increasing electricity prices.
He added that the rapid energy transition requires a strong personnel response in the market.
Minister of Economic Development and Tourism Goran Đurović, at the panel "Agreement with the socially responsible concept of business - involving all interested parties", said that the need created by ESG standards - to protect the environment, be socially responsible and better in corporate management.
"If you had asked anyone across Europe and the world what the meaning of business was 20 years ago, the answer would have been profit, fewer unemployed people," said Đurović.
He reminded that Montenegro is the first ecological country, but that there is much to be done in terms of ecology and environmental protection.
Speaking about the activities of the current government, Đurović stated that the main water source, which supplies the entire Montenegrin coast, was protected from individuals who exploited the gravel.
"We had to use radical methods, for the simple reason that the protection of the environment, nature and the rights of the citizens of Montenegro to have drinking water are much more important than profit," said Đurović.
He said that, as far as social responsibility is concerned, Montenegrin companies are slowly becoming aware of the need to be socially responsible.
Đurović emphasized the cooperation between the Government and the economy related to the Stop Inflation action.
"Today, to the same question - what is the meaning of business, the answer would be that it is not only profit, but also environmental protection, social responsibility", said Đurović and assessed that Montenegrin companies are slowly recognizing the need to implement ESG standards.
The Western Balkans ESG Summit, which gathered over 450 participants, is the largest regional event dedicated to sustainable development and discussion of greater responsibility of the business sector towards social, governance and standards in the field of environmental protection (ESG) in practice.
The summit is organized by Sustineri Partners and Porto Montenegro, under the auspices of the Government of Montenegro.
Bonus video:
