At the initiative of the Faculty of Economics and Business Administration (FEBA) at Sofia University "St. Kliment Ohridski", the Ministry of Environment and Water, and the Green Transition Forum, a global initiative for fair climate financing accessible to women worldwide was launched. The announcement took place at the Bulgarian Pavilion during COP29 in Baku.

The organizers presented the initiative during a dedicated discussion “Women and Climate Financing” which brought together women from various countries who work in governmental and international organizations, financial institutions, and research fields.

The initiative calls for gender-balanced representation in climate negotiations and decision-making institutions. Its goals include promoting co-leadership models with both men and women at the helm, creating structures to accelerate investments and enhance women’s financial capacity, and encouraging private organizations to increase their support for women in climate action.

The Bulgarian initiative for equitable access to climate financing has already received the support of 15 organizations, emphasized Monika Stanisheva, co-founder of the Green Transition Forum and a member of the Scientific Council of COP29. The aim is to gather broader support in the coming months and during COP30 in Brazil.

"Women can rediscover and transform the world", said Assoc. Prof. Dr. Marina Stefanova, Vice-Dean for Sustainable Development at Sofia University’s Faculty of Economics and Business Administration, and moderator of the discussion. She highlighted that the initiative aims to place women at the center, recognizing their roles as caregivers, entrepreneurs, and agents of change. Women have the potential to lead transformation—in politics, their communities, and public life, she added.

Climate change affects everyone, but not equally. Women are often on the front lines during crises and disasters, working to protect their families, homes, and communities, stated Reneta Koleva, Deputy Minister of Environment and Water, during her address. She reminded attendees that Bulgaria is among Europe’s leading countries in terms of women’s participation in science and governance. Koleva stressed the importance of ensuring equitable access for women to climate finance.

"Only through collaboration and sustainable climate financing can we achieve a more sustainable future", Koleva said.

"I am not a feminist, but I am a defender of women's rights, which are largely neglected. We need to empower women and include them in all aspects of our societies' development", said Ambassador Venera Domi, Executive Manager of the Black Sea Economic Cooperation Organization.

Ivelina Vassileva, Advisor to the Bulgarian Prime Minister and representative of the EU Mission “Restore Our Oceans and Waters”, spoke about women’s participation in the "blue economy" (related to water ecosystems and activities around them). She noted that this field is traditionally male-dominated, with women holding only 20–30% of jobs in the blue economy and national maritime administrations, according to 2022 data.

Helen Sulg, Head of Development and Partnership at the Center for Environmental Investments in Estonia, shared successful practices for gender equality. Meanwhile, Tarana Jafarova, a sociologist and researcher from Azerbaijan specializing in development, women’s issues, and social affairs, highlighted the challenges women face. Many women work in sectors vulnerable to climate change, such as agriculture. She emphasized that economically empowered women stimulate local economies, reinvesting up to 90% of their income into healthcare and education through their families. Climate financing for women can reduce poverty and their dependency, Jafarova added.

Learn more or join the Initiative for Equitable Access to Climate Financing as an individual or organizational representative here: https://www.womenclimatefinance.eu/