On the Road to Climate Neutrality: Benefits and Challenges for Cyprus
KEY POINTS (see detailed study with English summary here)

➢ A climate-neutral Cyprus in 2050, as required by the European Climate Law, will be characterized by almost complete independence from fossil fuels and replacement by electricity and renewable sources, full utilization of waste and use of renewable hydrogen in transport and heavy industry, depending on developments in the respective technologies.

➢ This will require serious investment from the public and private sectors. Public investment should absorb close to 1% of GDP each year until 2050, twice as much as public funds currently provide for climate action.

➢ These investments can be beneficial for the economy and society and in the medium term can free up resources that can be reinvested in the economy. However, important challenges lie ahead that call for swift policy action.

➢ In order to put the country on a climate-neutral path, all public policies should, already today, be aligned to orient investments towards the netzero emissions target in 2050. Delays in the green transition will be more costly to the Cypriot society.