European Commission page on Cyprus' recovery and resilience plan

Laws and Policies

CCLW

CCLW national policies

Cyprus' recovery and resilience plan

Information on Cyprus' recovery and resilience plan

Factsheet on Cyprus' recovery and resilience plan

Council implementing decision on the approval of the assessment of the recovery and resilience plan for Cyprus

Approved

<div>To benefit from the support of the Recovery and Resilience Facility set up by the EU in the aftermath of the COVID-19-induced economic crisis, Member States submit their recovery and resilience plans to the European Commission. Each plan sets out the reforms and investments to be implemented by end-2026 and Member States can receive financing up to a previously agreed allocation. Each plan should effectively address challenges identified in the European Semester, particularly the country-specific recommendations of 2019 and 2020 adopted by the Council. It should also advance the green and digital transitions and make Member States’ economies and societies more resilient. The Commission validates the plan after which it effectively enters in force and EU subsidies can start flowing towards the member state. The European Commission has given a positive assessment to Cyprus recovery and resilience plan, consisting of €1 billion in grants and €200 million in loans. 41% of the plan’s total allocation for reforms and investments support climate objectives, including:</div><ul><li>Green taxation: introducing a carbon tax for fuels, a gradual introduction of a levy on water, and a charge on landfill waste.</li><li>Energy efficiency and renewables: financing various support schemes to implement energy efficiency measures and renewable energy investments and to combat energy poverty. €89 million</li><li>Energy interconnector: contributing to the EuroAsia Interconnector project, which will connect Cyprus to the EU electricity network and boost renewable energy production. €100 million</li><li>Promoting sustainable and green mobility: encouraging a shift from private cars to public transport, cycling, walking, and promoting the use of clean vehicles. €87 million</li></ul>

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

Any compulsory, unrequited payment to the government levied on corporations or individuals. This can be for environmental reasons, such as introducing a Carbon tax to set a price that emitters must pay for the greenhouse gases they emit.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Social protection systems consist of policies that help people manage social risks in order to prevent poverty and maintain decent incomes and living standards

Aligning the skills of the workforce with the requirements of the just transition.

This sector includes firms and individuals offering specialised expertise in fields such as law, accounting, consulting, science and engineering.

Conditions that enhance the feasibility of adaptation options. Enabling conditions include finance, technological innovation, strengthening policy instruments, institutional capacity, multi-level governance and changes in human behaviour and lifestyles.

This sector provides medical services, manufactures medical equipment, and develops pharmaceuticals to maintain and improve health.

This sector provides communication services, software development, and IT solutions.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

woman and genders outside of the gender binary

Activities of government agencies and institutions that provide public services, enforce laws and manage public resources.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

This sector involves managing waste treatment, sanitation, pollution control and environmental cleanup.

This sector involves activities that impart knowledge and skills to individuals, including formal schooling, vocational training and educational support.

This sector involves activities to move goods and people, alongside the storage of products.

Social inclusion is the process of improving the terms on which individuals and groups take part in society—improving the ability, opportunity, and dignity of those disadvantaged on the basis of their identity.

People who are less able to respond to the effects of climate change due to having limited financial or physical assets

European Commission page on Cyprus' recovery and resilience plan

Policy instrument

Impacted group

Just transition

Renewable energy

Greenhouse gas

Economic sector

Adaptation/resilience

Finance