CYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION
CYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION

“Green” incentives of € 22 million

The Council of Ministers approved three new measures for professionals and businesses, amounting to € 22,5 million, aimed at meeting Cyprus’s greenhouse gas (GHG) emission reduction targets. Specifically, the three measures in brief:

 

  • The first measure, with a budget of € 2,25 million for the years 2021-2022, concerns the management of F-gases and for which there is no institutional framework for rational management.
  • The second measure for enterprises, with a budget of € 13,5 million for the years 2020-2022, concerns the preparation of a specific plan for GHG emission reduction grants. This measure is directly linked to the “Business4Climate” initiative implemented by the Department of Environment, Ministry of Agriculture, Rural Development & Environment in collaboration with Cyprus Employers and Industrialists Federation (OEB) and Cyprus University of Technology (CUT).
  • The third measure, with a budget of € 6,75 million for the years 2020-2022, concerns the promotion of biofuel production from waste.

The total GHG emissions expected to be reduced from 2020 to 2022 by the three measures is 1 million tonnes of CO2 equivalent.

For more information please visit the following link: https://politis.com.cy/politis-news/kypros/prasina-kinitra-ypsoys-22-ekat-eyro/