Italy ranks first in Europe in terms of the circular economy, although investments in the sector are still in the development phase. An important acceleration in this direction comes from the PNRR, which includes, as objectives of Mission 2 (Green Revolution and Ecological Transition), the development of ‘Waste to Energy‘ solutions that envisage reforms in sustainable agriculture sector and circular economy; renewable energies and sustainable mobility, with the decarbonisation of some industrial segments and the promotion of solutions based on the use of hydrogen; energy efficiency and buildings’ requalification; and the improvement of land and water resources to achieve the European Green Deal.
The objective is to develop an international industrial and knowledge leadership in the main transition sectors, promoting the development in Italy of competitive supply chains in the fastest-growing sectors, which will make it possible to reduce dependence on imported technologies, and strengthening research and development in the most innovative areas (photovoltaics, hydrolysers, batteries for the transport and electricity sectors, means of transport).
The Mission 2 C3 of the NRRP has earmarked 15.36 billion euros for energy efficiency and buildings’ renovation, focusing on new solutions to combat energy waste and in the meantime giving an economic boost to the industrial sector. The intervention areas include plans to improve the energy efficiency of public buildings (schools, judicial offices, and intervention systems); energy and seismic upgrading in private and public residential buildings (with a 110% Ecobonus and Sismabonus system); and the development of district heating systems.
The Axis 3 of the Cyprus NRRP (Component 3.1) has allocated 166.4 million euros for new models of economic growth and diversification, which through better waste management and the development of more efficient energy production systems, move Cyprus towards the circular economy’s implementation.
The reforms and investments are aimed at promoting circular economy processes in the Cypriot hospitality sector: therefore, companies that will have access to the funds, will have to ensure that at least 70% (by weight) of the non-hazardous construction and demolition waste is prepared for re-use, recycling and recovery of other materials, in accordance with the EU waste management protocol.
The Component 3.1 also includes the use of equipments that generate renewable energy and that will be included in the buildings’ construction works; as well as environmentally friendly ways of scrapping company machineries whose purchase is necessary for the construction works.
The adoption by companies of ‘circular economy practices’ in the construction of buildings to avoid energy wastage will increase the demand for highly skilled labour, such as the construction of insulating panels, steel profiles and metal claddings.
The Ministry of Energy, Commerce and Industry has prepared a Strategy Paper with data on the current situation, challenges and opportunities for recovery related to the circular economy policy included in the Cyprus’ Integrated National Energy and Climate Plan (INECP).
More funds (90 million euros) than foreseen in the Cyprus’ NRRP have been allocated to the energy and environment sector to move Cyprus towards a green and circular economy based on renewable energy and waste reduction.
H.E. Natasa Pilides, Minister of Energy, Commerce and Industry stated that “the transition from the linear to the circular model creates opportunities for economic transformation, sustainable development, and realises more productivity and competitive advantages”.
The issue of waste management concerns several sectors and the Cypriot government’s action plan has included investments in innovation of environmentally friendly energy creation practices, savings through new technologies in the agricultural sector, as well as protection of the land, sea and air ecosystems.
The Minister for Agriculture, Rural Development and the Environment, H.E. Costas Kadis, saw programmes for waste separation, decarbonisation, agri-tech and renewables as a passport to energy saving and environmental protection. H.E. Kadis assured that the Ministry of Agriculture will work closely with the Ministry of Energy, and all stakeholders, to implement the ambitious new plan. The aim is to develop a network to exchange best practices, share knowledge, boost the development of the sector and establish cooperation agreements.
Italy and Cyprus are on the same page in terms of promoting circular economy activities in accordance with EU directives and timelines. In light of the clear opportunities for economic growth, the Italian-Cypriot Chamber of Commerce has promoted a series of meetings with the institutions’ representatives of both countries in order to share objectives and solutions to achieve them. The line of cooperation on the Italian-Cypriot axis was confirmed through agreements between companies in the industrial and commercial sector that bring innovative investments in circular economy and projects that have a positive impact on the environment.
During the Smart Talk of September, organised by the Chamber, the guest H.E. Costas Kadis, confirmed the Cyprus’ objectives to optimise the management of natural resources and achieve the green and blue economy in the three areas of its Ministry. The topics were dealt from the perspective of an international cooperation strategy between Italy and Cyprus.
On 29th September was held in Rome the 4th Cypriot-Italian Business Forum, ‘Italian and Cypriot NRRPs: Relaunching the Mediterranean Economy through Cooperation‘, organised by the Italian-Cypriot Chamber of Commerce in collaboration with the Cyprus Chamber of Commerce and Industry, with the participation of H.E. Natasia Pilides, Minister of Energy, Commerce and Industry for Cyprus and H.E. Gilberto Pichetto Fratin, Vice Minister of Economic Development for Italy.
The occasion was once again a prodromal occasion for new and fruitful cooperation between the two countries.
For further information on the activities of the Italian-Cypriot Chamber of Commerce: email@example.com
Last modified: October 19, 2021