Funding Plan to Encourage the Reduction of Greenhouse Gas Emissions in Businesses (2024)
We would like to inform you that the Department of Environment, Ministry of Agriculture, Rural Development and Environment has announced the approval of the Funding Plan to encourage the reduction of greenhouse gas emissions in businesses (2024), which is expected to be announced very soon.
Through this Plan, the Government aims to promote and financially support businesses for significant actions related to the measurement and certification of their emissions as well as monitoring and reduction actions. The carbon/energy footprint of a business is defined as the quantity of greenhouse gases emitted during its operations (staff attendance, production, transportation, distribution, etc.).
The Plan will provide financial incentives in the form of government sponsorship to encourage the reduction of greenhouse gas emissions through the submission of documents and studies that will include specific actions aimed at reducing greenhouse gas emissions. Additionally, it will subsidize the creation of studies and/or advisory services related to the following:
a) Development of a Monitoring Plan (resulting from the activities of the business),
b) Inventory Report,
c) Verification Report of the Inventory for the reporting year according to ISO 14064-1 standard,
d) Preparation of a Greenhouse Gas Emission Reduction Action Plan (GHG-ERP) of at least 10%by 2030,
e) Verification Report of future (estimated) reductions or removals of GHGs for the actions of the Beneficiary’s Action Plan until 2030.
More information about the Plan will be presented at the open informational seminar for the Plan organized by the Cyprus Organization for Standardization, on February 9, 2024, 09:00 am – 12:30 pm, at the Multipurpose Hall of the Ministry of Finance, and is of interest to all small, medium, and large businesses.
To participate in the seminar, please register clicking on the following link https://forms.gle/YLdAruCw9zLXRsH29
