Background information

The aim of the scheme is to bring closer Cypriot businesses with the country’s goals and the national strategy on energy and climate. It pursuits to encourage small, medium and large businesses to take appropriate action towards a green economy free from carbon emissions. The Scheme is found under the 2nd Axis: ‘Accelerated Transition to a Green Economy’ of the Cyprus Recovery and Resilience Plan and it contributes to the implementation of the measures and policies of the National Energy and Climate Plan, such as carbon neutrality and decarbonisation.

Content of measure

The Scheme provides financial incentives for businesses in the form of government grant and subsidies the preparation of studies that include the monitoring and inventorying of greenhouse gas emissions from businesses, their verification and the preparation of action plans with specific actions aimed at validating greenhouse emission reduction by 2030.

Eligible beneficiaries are small, medium and large enterprises as defined in the Recommendation of the Commission the European Communities found in the Republic. Businesses that are not under the control of Republic due to the Turkish invasion ’74 and businesses that do not meet the requirements of Regulation EE 651/2014 are excluded from the subsidy.

The scale of support depends on both the proposed action of each beneficiary and the size category of the business, as follows:

• Very small/small enterprises: The percentage of total eligible expenses is 80% and the maximum grand amount is €3,500.
• Medium enterprises: The percentage of total eligible expenses is 70% and the maximum grand amount is €15,500.
• Large enterprises: The percentage of total eligible expenses is 60% and the maximum grand amount is €18,500.

Use of measure

The available budget of the Call was €5 million and the target was to fund 300 businesses by the end of 2024.

Target groups

Workers	Businesses	Citizens
Does not apply to workers	Applies to all businesses	Does not apply to citizens

Actors and funding

Actors	Funding
National government	National funds National Recovery and Resilience Facility

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	No involvement as case not in social partner domain	No involvement
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• No involvement
• Main level of involvement: N/A

Involvement

Social partners were not involved at any stage of the designing of the Scheme. The designing was performed by the Ministry of Agriculture, Rural Development and Environment. The implementation and monitoring were under the Department of Environment of the Ministry of the Ministry of Agriculture, Rural Development and Environment.

Views and reactions

No particular reactions from social partners have been recorded on the issue.

Sources

• 12 February 2024: Σχέδιο Χορηγιών, Ενθάρρυνση της μείωσης εκπομπής θερμοκηπίου στις επιχειρήσεις (www.moa.gov.cy)