Aviation is one of the most effectual intervention levers in a country’s social, economic, environmental, cultural and developmental evolution. Especially for the Cypriot economy, this sector is of great importance since the vast majority of tourist influx is made by air.
However, aviation also contributes to global climate change through the emission of carbon dioxide, nitrogen oxides, water vapor, sulphuric compounds and soot. The Intergovernmental Panel on Climate Change (IPCC) estimated that the total climate impact of aviation is twice to four times as high as that resulting only from their carbon dioxide emissions so far.
With the adoption of Directive 2003/87/EC, a scheme for greenhouse gas emission allowance trading was established to promote emission reductions in an effective manner. The subsequent inclusion of aviation activities in the allowance trading scheme through the Directive 2008/101/EC aimed at limiting greenhouse gas emissions from aviation.
Directive 2003/87/EC, with its relevant amendments, has been transferred into the Cypriot legislation with the Establishment of a Greenhouse Gas Emissions Allowance Trading Scheme Laws of 2011 to 2015 (Ν. 110(Ι)/2011, Ν.202(Ι)/2012, Ν.21(Ι)/2015Ν. 110(Ι)/2011, Ν.202(Ι)/2012, Ν.21(Ι)/2015).