Filenews 9 June 2022 - by Theano Thiopoulou
Cyprus aims to make its economy greener as much as it can, having ambitious targets for shaping the long-term strategy for sustainable growth, making its green transformation a key priority.
The Strategic Fiscal Policy Framework 2023-2025 stresses that there is a need to promote investments in green technologies and products, renewable energy sources (RES) and, in general, the need to reduce greenhouse gas emissions in all sectors. At the same time, there is a need to promote smart and sustainable mobility, as well as investments in waste management and the promotion of the circular economy.
In this context, the EMPA points out, the implementation of the national strategic planning should be pursued. The national strategic planning for the transition to a green economy is recorded through the National Energy and Climate Plan (NECP) 2021-2030, which promotes, among other things, important policies, reforms and investments in the energy, transport and waste management sectors. Similarly, in the longer term, the implementation of the national strategy for adaptation to climate change remains important, developing appropriate policies in the fields of agriculture, tourism, energy, infrastructure, water, biodiversity, forests, fisheries and aquaculture, public health, soils and coastal zones.
In the energy sector, according to the EMPA, "enhancing energy efficiency and the further penetration of renewable energy sources (RES), especially solar energy, are key short-term priorities in the context of the implementation of the NECP measures, which are expected to have a positive impact, both on climate targets and on the competitiveness of the economy, due to the consequent reduction in expenditure on imported petroleum products". It is noted that "the intensification and strengthening of support measures for energy upgrades both in the public sector and local authorities, as well as in businesses and households, combined with the opening up of the electricity market to competition, should bring savings in energy costs for citizens and enhance the competitiveness of businesses". It is also noted that "it is particularly important to ensure access by the entire population to affordable, reliable, sustainable and environmentally friendly energy. For this purpose and for the further penetration of RES in the country's energy mix, it is necessary to promote the required reforms and the necessary investments, including the development and implementation of new technologies and res energy storage systems.
The 2023-2025 EMPA also states that "the lifting of the energy isolation of Cyprus by creating infrastructure for its interconnection with the trans-European electricity and gas networks provides possibilities for cross-border trade, a reduction in the cost of electricity generation and a further increase in electricity generation through RES. Important in this context is the implementation of the project for the electrical interconnection of the systems of Israel, Cyprus and Greece (Crete) "EuroAsia Interconnector".
