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Fighting Climate Change: There Is no Plan B for our Planet

by Greg Langley

Lubomila Jordanova is applying her business and finance background to our world’s greatest threat – climate change

The road to Damascus for Lubomila Jordanova was actually a beach In Morocco. While waiting for friends to finish surfing, she began picking up litter surrounding her towel. An hour later, she was still busy.

“I hadn’t paid attention to the environment before,” the 29-year-old Bulgarian admits, “but then I read everything I could and realized how much trouble our planet is in.”

For many, such a revelation would be disturbing but they would move on. For Lubomila it was different. She quit her job in a fintech startup and set about tackling climate change.

She fell in with a talented group of likeminded people in Berlin, Germany, and founded an action platform, Plan A, to fight climate change. The group includes a data analyst who is now developing an algorithm to predict where climate change will hit the hardest.

On the frontline of climate change

A for-profit organization, Plan A uses their in-house built algorithm and a fund-raising platform approach to channel capital from businesses and individuals to environmental projects on the frontline of climate change. In the first eight months until the end of 2018, Plan A raised a total of €100,000 for eight different projects in 27 countries.

Lubomila talks at length about the inefficiencies of the current approach to funding the fight against climate change. Large sums are often squandered while organizations undertaking the most impressive work are barely recognized. It was only logical that she applied her background in business and finance to solving the problem.

“Occasionally I get asked why I chose a fee-per-transaction model,” she says. “It is simple – in this way the success of the environmental projects on our platform is correlated with our own capacity to expand our technology and develop further our effort for the planet.”

Lubomila is not offended when Plan A is described as “Kickstarter for the environment,” but is careful to explain that projects on the website are thoroughly vetted by looking at financial breakdowns of the applicant projects, track record of the organizations, and the teams behind them before posted. All projects also need to adhere to rigorous reporting standards.

A new educational version of Plan A was launched at the beginning of January. Some 10,000 people had visited the platform in three weeks and €100,000 raised, although the self-set target until the end of April is €5 million.

“That sounds ambitious, but for me the world is well past the point of making bold statements about how we are going to fight climate change,” she explains. “Enough words have been said. What matters now is action and that all these incredible projects across the globe will receive the funding and visibility that they need.”

 

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