The green transition is cost-effective, with medium-term costs seen as an investment, according to experts at the Green Agenda Cyprus Summit held Monday in Nicosia.

Among the topics discussed were the climate crisis's impact on health, financial instruments for the green transition, and the role of new technologies. The Minister of Agriculture announced a pilot program for green roofs, while the Minister of Energy discussed hydrogen's potential as a clean fuel and electricity storage solution, emphasizing the importance of safe production and transport.

European Commissioner for Climate Action Wopke Hoekstra, addressing the summit via video, stressed the need for consensus on EU climate targets, balancing business competitiveness and just transition for citizens. He noted Cyprus lost over 1,900 hectares to wildfires in 2023, the highest in a decade, and highlighted the severe water scarcity affecting the region.

European Commissioner for Health and Food Safety Stella Kyriakides highlighted the severe health impacts of the climate crisis, noting that heat exposure leads to various adverse health effects, particularly among vulnerable groups. She called for greater focus on disease prevention and the use of telemedicine.

Addressing the summit, the Minister of Agriculture stressed the urgency of limiting the planet's temperature rise below 1.5 degrees Celsius and outlined actions to increase greenery in Cyprus and reduce its carbon footprint. These actions include tree planting, green roofs, and developing a fuel-independent small fishing boat.

Asked to elaborate on the topic of green roofs, the Minister said that green roofs are an alternative method that will be combined with solar panels on houses and offer many benefits. She mentioned that a pilot program will be implemented on the roof of the Ministry of Agriculture to develop a guide detailing the types of plants to be used and the technology to be employed. Regarding the Akamas region, she mentioned its ongoing re-evaluation with rigorous environmental and technical scrutiny.

Energy, Commerce, and Industry Minister George Papanastasiou discussed hydrogen's future as a fuel for heavy vehicles, shipping, aviation, and renewable energy storage. He also emphasized the role of artificial intelligence in optimizing electricity production and highlighted the Ministry's goal to implement smart storage and meters in the next two years.

Oxford University economist Professor Cameron Hepburn emphasized the green transition as a significant opportunity for Cyprus. He pointed out that the cost of green transition technologies has decreased and become more economically viable than fossil fuels. Hepburn stressed the potential for Cyprus, given its high solar energy capacity, to lead in renewable energy investments.

In a panel with Cypriot bank representatives, the discussion focused on the importance of aligning government policies with banking practices to finance the green transition effectively.

To achieve climate neutrality, Cyprus's public investments for the 2030-2050 period must double compared to the current decade, stated Deputy Minister to the President, Irini Piki, speaking at the Summit.

According to a statement from the Deputy Ministry, Piki emphasized that the cost of the green transition is lower than the cost of unchecked climate change.

The Deputy Minister's address focused on the strategic priorities outlined in the Government Program, presenting policies aimed at improving citizens' lives with a particular emphasis on the green transition.