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The conference agenda was dominated by topics such as security of supply and transition from traditional to the renewable energy sources pursuant to an agreement reached at the Paris Climate Change Conference COP21 (widely expected to devise an ambitious international agreement that would accommodate expectations of the population bearing the brunt of the climate changes). Kirill Kravchenko took part in a panel discussion deliberating whether the Paris Climate Change Conference conclusions signed by its more than 190 participants would lose its momentum against the background of plunging crude oil prices in the global market affecting the entire oil sector. This vibrant panel was also attended by Dr. Radostina Primova of the Heinrich Boell Foundation, who is in charge of the EU external partnerships and international cooperation in the field of climate and sustainable development policies, Joseph Paritzki, former Israeli minister of energy and Dr. Volkan Özdemir, an executive director in an Ankara based institute for energy studies. After elaborating on NIS operations in Serbia and the Western Balkans and telling how this once loss-generating company emerged as the region’s leader, which out of a typical oil and gas entity became a power generation company, Kravchenko shared with the participants his take on the need to shift to renewable and cleaner energy sources, as well as the importance of sustainable development for our company and the countries of its operation. He used the opportunity to stress that NIS, as the region’s leader, is unequivocally obliged to be a role model for other companies in the process of shifting to the cleaner energy sources in the greatest possible extent. As he pointed out, this is feasible if five basic principles are implemented, which are the mainstay of NIS operations: introduction and implementation of GHG monitoring system complying with EU standards, energy efficiency boost across the board, greater share of renewable energy sources in the overall energy mix, output of cleaner and better quality oil products and CO2 injection into the geological formations. The panel participants were particularly interested in the comparative analysis of the operation of the oil companies that compete in the region, so the CEO of NIS presented our company as the region’s leader not only in commercial terms, but as a trend setter in environment protection and sustainable development. In the conclusion of this constructive discussion the point was made of the need for a concerted effort by all power generation entities, in the Western Balkans and Europe at large with a view to facilitate reaching the objectives set by COP21, the Paris Climate Change Conference. For the eighth consecutive time the Krakow Conference invited the household names of Europe’s power generation industry: Dr Urban Rusnák, Secretary General of the Energy Charter Secretariat, Emmanuel Haton, the Vice President Government Affairs at British Petroleum, Sergei Komlev of Gazprom Export to mention just a few. The Conference is so devised to provide opportunity for experts from Central and Eastern Europe, USA, Cambodia, Moldavia and other countries, staff members of commercial companies, government agencies, international organisations and education institutions, to share their experience in interactive discussions with young managers compelled to rise to a myriad of challenges currently facing the power generation industry.