Philenews

Nearly €500 Million from Pollution Fees to the State between 2012-2024 from EU Auctioning

Published January 2, 2026, 05:06
Nearly €500 Million from Pollution Fees to the State between 2012-2024 from EU Auctioning

The Republic of Cyprus collected net revenues of €488,171,491.42 from the auctioning of emission allowances between 2012 and 2024, as part of its participation in the European Union Emissions Trading System. These funds were allocated to actions and projects to address climate change, such as energy efficiency programs, promotion of renewable energy sources, green transport, environmental restoration, and research. The revenues are deposited into the Permanent Fund and used through the state budget by various Ministries and agencies. In 2024, the largest portion of the funds (€42,028,000) was spent on providing financial support to citizens to cover their electricity bills.