Disappointing performance for Cyprus in private investments to mitigate the crisis – Last in the EU rankings for 2023.
Cyprus ranks at the bottom of the EU regarding investments to address climate change, according to data released by Eurostat on Tuesday.
In 2023, private investments in climate change mitigation across the EU totalled €95.3 billion, equivalent to 0.55% of the EU’s GDP.
From 2005 to 2016, investments remained relatively stable, averaging around 0.5% of GDP. A notable upward trend followed, peaking at 0.64% in 2021. However, investments saw a slight decline in 2022 and 2023, falling to 0.56% and 0.55% of GDP, respectively.
Cyprus at the bottom of Europe
In 2023, Lithuania and Denmark recorded the highest shares of private investments in climate change mitigation, at 1.5% of GDP. They were followed by Latvia and Sweden, each with 1.2% of GDP.
In all other EU countries, investments in climate change mitigation were below 1% of GDP in 2023. Cyprus and Ireland recorded the lowest shares, with less than 0.1% of GDP. Specifically, Cyprus had the worst performance at 0.06%, followed by Ireland at 0.09%.
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Source: Economy today
