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Launch of the European project «Business4Climate» to reduce greenhouse gas emissions in businesses

The Federation of Employers and Industrialists (OEB), the Cyprus University of Technology (TEPAK-coordinator of the project) and the Department of the Environment, the Ministry of Agriculture, Rural Development and the Environment participate in the European program Business4Climate, the purpose of which is to engage businesses in climate action through reducing greenhouse gas emissions. The project is funded by ClimateKIC, through Regional Innovation Scheme the European Institute of Innovation and Technology (EIT).

The program aspires to provide Cypriot businesses with all economic sectors not participating in the greenhouse gas emission allowance trading scheme (Emissions Trading System, ETS), the necessary tools for identifying greenhouse gas emissions from their activities and the preparation of an action plan for each business to reduce these emissions.

Project activities include, among others, the development of methodology for the determination of greenhouse gas emissions, business education on Climate Action and Climate Change the definition of available and planned financing tools and projects.

The benefits of the project are significant and multiple, as the reduction of greenhouse gas emissions will come from thereduction of energy consumption and more rational resource management, which also implies reduction of operating costs. At the same time, the implementation of the project will contribute to the achievement of Cyprus' national targets for reducing greenhouse gas emissions.

Beneath the umbrella of the Business4Climate initiative is given particular importance to energy efficiency. For that reason, Ministry of Energy, Commerce, Industry and Tourism (IEEBT), Energy Office of Cyprus (EOC) and Federation of Employers and Industrialists (OEB) have created it Cyprus Network for Energy Efficiency. The Energy Efficiency Network has been created through a project to strengthen the implementation of the European Directive on Energy Efficiency in Cyprus. The project is being carried out by the Austrian Environmental Office in collaboration with the Ministry of Development and Energy and the EIR. The project is funded by the European Commission's Structural Reform Agency.

Interested companies can find more information on the project website Business4Climate http://www.oeb.org.cy/drasis/business4climate/ or by contacting OEB and Ms. Alexandria Hill, on 22665102, 206.

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