Breaking news

Green Taxes Are Coming To Cyprus—And Everyone Will Feel The Cost

by News Editor

April 14, 2025

Cyprus is embracing the green transition with a new wave of environmental taxes, aiming to slash greenhouse gas emissions by 32% by 2030. While the shift is considered necessary and legitimate, it’s also set to hit the pockets of households and businesses nationwide.

Experts, officials, and economists agree: green taxes are critical to bridging the cost gap between fossil fuels and cleaner alternatives. But concerns are mounting over how these levies will affect competitiveness, and whether consumers can absorb the shock.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The Carbon Price Surge: What’s Coming

The most impactful measure is a carbon tax on petrol and diesel, expected to initially raise pump prices by 5.95 cents per liter, increasing to 10 cents by 2026. That’s just the start.

By 2027, the EU’s new Emissions Trading System (ETS2) will come into play, potentially pushing fuel costs up by another 18 cents per liter.

Add to this:

A new water tax of €0.01 per cubic meter has already been approved by the Council of Ministers.
A waste fee tied to the “pay-as-you-throw” scheme.
A planned overnight hotel fee has now been postponed to 2026.

These taxes, part of Cyprus’s Recovery and Resilience Plan, were originally due by November 2023, but have been delayed until May 2025, according to Finance Minister Makis Keravnos.

However, carbon tax implementation is now expected this summer, pending the finalization of compensatory measures, said Andreas Zachariades, the finance ministry’s permanent secretary.

What Will It Cost—And Who Pays The Most

According to a new University of Cyprus Centre for Economic Research report, green taxes are set to dent household well-being, particularly for lower-income families.

Key findings:

Fuel and water taxes will increase household spending by 0.37% on average.
Lower-income households will feel a disproportionate impact.
The state stands to gain €54 million annually from fuel taxes—€33 million from households and €19 million from businesses.
The overnight hotel fee could bring in another €34 million per year.

The Government’s Pledge: Balance Pain With Support

Despite the burden, the finance ministry has committed to a fiscally neutral policy—meaning all revenue from green taxes will be offset by equivalent support measures.

Planned compensations include:

Subsidies for vulnerable groups.
Incentives to replace vehicles with greener models.
Support schemes for businesses adapting to sustainable practices.

By 2026, total revenue from green taxes is expected to reach €70 million, matched by an equal value in compensatory measures, according to Zachariades.

Supporters Say It’s Necessary. Critics Want A Delay.

Economist Tasos Yiasemides said the cost of transformation is high, but stressed the importance of long-term sustainability and the government’s plan to cushion the blow: “The state’s commitment to a fiscally neutral policy and the adoption of support measures will help protect consumers and businesses.”

However, the Cyprus Consumers’ Association remains unconvinced. President Marios Drousiotis called for delaying implementation until economic conditions allow.

Even a 1 cent fuel increase, he warned, would cost consumers €9 million a year. While he acknowledged the ripple effect on other goods, he noted that price increases may not be prohibitive—yet.

The Bottom Line

Cyprus’s climate goals are ambitious—and green taxes are part of the cost of getting there. But balancing environmental responsibility with economic fairness remains a delicate act.

As the green transition gains momentum, the real test will be whether the government can deliver on its promise: a fairer, cleaner future that doesn’t leave the most vulnerable behind.

The Future Forbes Realty Global Properties

Europe’s Deadly Summer Heat Exposed The Cost Of A Warming Continent

by THEFUTURE.TEAM

October 23, 2026

Europe experienced its deadliest summer for heat-related deaths on record in 2026, with an estimated 24,400 excess deaths linked to extreme temperatures across 30 countries. Researchers estimate that human-induced climate change was responsible for around 32,000 of the deaths attributed to heat in the study’s broader analysis, accounting for 65% of the total.

The findings highlight the growing public-health consequences of global warming, largely driven by fossil fuel use, as extreme heat becomes more frequent and severe.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

A Summer Of Dangerous Heat

Between June and August, heatwaves pushed temperatures in Western Europe to an average of 2.9°C above the 1991–2020 norm, with some days reaching 12°C above average. Nearly a third of estimated heat-related deaths occurred during a particularly intense heatwave between 17 June and 1 July.

“These numbers are a stark reminder that our hotter, more extreme summers are having an increasingly severe impact on public health,” said Dr Clair Barnes, a researcher at Imperial College London and co-author of the study.

The estimated toll exceeded previous peaks of around 29,000 deaths in summer 2022 and 28,000 in 2003 across the region studied.

How Researchers Estimated The Toll

Researchers modelled the relationship between temperature and mortality across 854 urban areas in the EU, UK, Norway and Switzerland, covering around 40% of the population in the 30 countries studied.

The analysis incorporated temperature records, age, socioeconomic conditions, environmental factors and access to healthcare. By comparing actual temperatures with those expected without human-induced warming, the team estimated the additional deaths attributable to climate change.

Final official mortality figures for summer 2026 are not yet available in many countries, and heat-related deaths are often underreported because their effects can be difficult to identify directly.

Older People Face The Greatest Risk

People aged 85 and over accounted for roughly half of the estimated deaths. However, the impact extended across age groups, with around 800 excess deaths among adults aged 20–44 and approximately 6,000 among people under 65.

Southern Europe experienced the highest mortality burden, reflecting hotter temperatures and other vulnerabilities, including air pollution, limited green space and unequal access to healthcare and heat-alert systems.

Italy, France And Spain Record Highest Toll

Italy recorded an estimated 13,303 heat-related excess deaths, followed by France with 7,268 and Spain with 6,824. Germany recorded around 6,340, while the UK saw an estimated 4,354 deaths.

In the UK, the heat also placed significant pressure on healthcare services. Andrew Hartle, Professor of Practice of Anaesthesia at Imperial College Healthcare, said demand during the summer resembled that of a severe winter virus season.

Cities Urged To Strengthen Heat Protection

Researchers say cities can reduce the risks through climate shelters, external shading and building retrofits, alongside measures to help residents avoid exposure during the hottest hours. Checking on vulnerable people, staying hydrated and following heat alerts are also important.

The researchers stress that adaptation must go hand in hand with reducing fossil fuel use to limit further warming. The findings underline that extreme heat is already a major public-health threat across Europe, with thousands of lives at risk each summer.