Cyprus calls for delay of EU's new emissions trading system

During the European Council summit in Brussels in mid-October 2026, Cypriot President Nikos Christodoulides urged the European Union to demonstrate greater flexibility regarding the implementation of the new emissions trading system, known as ETS2. Christodoulides argued that the policy, which targets carbon emissions from buildings, road transport, and small industries, would place an undue financial burden on citizens and businesses already struggling with high energy costs caused by the ongoing energy crisis.

Cyprus is part of a coalition of seven nations advocating for a suspension of the ETS2 beyond 2028, alongside Greece, Italy, and the Visegrad 4 group consisting of the Czech Republic, Hungary, Poland, and Slovakia. Following discussions at the summit, the Council issued conclusions requesting the European Commission to conduct an updated impact assessment of the system. President Christodoulides expressed satisfaction with the outcome, suggesting the Commission acknowledges the necessity for a postponement to avoid worsening current economic pressures.