The deal reached by the Ministers for the Environment of the European Union on five key proposals of the “Fit for 55 package” is a balanced deal that contains targeted provisions regarding maritime and air transport and the effect of the measures on transport, Environment and Transport Ministers Kostas Kadis and Yiannis Karousos said in a joint written statement after the meeting.
The two ?inisters pointed out that Cyprus had been supporting these proposals from the beginning and that the country has contributed to the discussion through constructive proposals, which helped arrive at a deal which takes into account issues faced by Cyprus as an island state.
According to Kadis and Karousos, Cyprus is expected to benefit from the measures which will lead to a significant reduction of greenhouse gases.
The provisions that affect Cyprus, according to the ?inisters, are securing increased revenues through auctioning emission allowances in the maritime sector, as well as providing funding for the green transition in the sector; an exception for the maritime connection between Cyprus and Greece.
Also assigning emission allowances to island states like Cyprus to promote sustainable aviation fuel and the preparation of a study on how to ensure air connectivity for island states.
The two Ministers also pointed to specific provisions such as the inclusion of the SAF Allowance Mechanism which, they recalled, was a Cypriot proposal. Such provisions, they said, will provide incentives towards a green transition in the sector and will help secure the connectivity of island states and isolated regions.
The Ministers said this was a landmark deal towards the goal to reduce net greenhouse gas emissions by at least 55% by 2030 and to achieve climate neutrality by 2050.
According to the ministers, the deal was a result of many months of negotiations between the member states and the institutions and opens the way to achieving the EU’s goals and just green transition for the economy and society, allowing the EU to fulfil its obligations taken in the Paris Agreement.
Kadis and Karousos point out that the deal focuses on limiting emissions from road transport, buildings, maritime transport, aviation, heavy industry and the use of land, while also providing new construction standards for vehicles.
Member states will be supported in this effort through financial tools such as the Social Climate Fund and other funds geared towards fostering innovation and modernising energy systems, they added.
Source: Cyprus News Agency