Sustainability and Competition Global Practice Guide |
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Cyprus |
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(Europe)
Firm
Chrysostomides Advocates & Legal Consultants
Contributors Updated 06 Sep 2022 |
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| Are ESG measures/sustainability agreements included in your jurisdictional competition regime? | Τhere is no explicit reference to ESG measures/sustainability agreements in the relevant competition laws in Cyprus. |
| If ESG measures/sustainability agreements are not included in your jurisdictional competition regime, do you foresee any new regulations coming into place in 2022? | We are not aware of any imminent new regulations on this topic. |
| Has your Authority issued any guidance on the role, if any, of ESG in the competition law analysis applied to mergers or other conduct? | No. |
| Has your jurisdiction issued guidance regarding competitor collaborations or participating in industry working groups, and if so, do they specifically address ESG? | No. |
| Can parties seek specific guidance from authorities on proposed ESG initiatives? | There is no official mechanism for prior consultation with or seeking guidance from the NCA with regard to proposed ESG initiatives. |
| How, if at all, does your jurisdiction quantify or calculate the ESG effects? | The NCA has not issued any guidelines or any other announcement regarding this matter. |
| What does your legal authority currently permit even if your agency is not yet active on this topic? | Cyprus being an EU member state follows EU competition law and relevant EU regulations, which are directly applicable thereto, as well as EU directives, which are transposed into national law. The NCA would therefore rely on any applicable EU Block Exemption Regulations. |
| Are there precedents that involved ESG/sustainability matters in your country? If so please provide a short description. | We are not aware of any such precedents. |
| Is there specific antitrust regulation in your jurisdiction to be aware of which might give rise to private or class action ESG litigation? | Law No 113(1)/2017 on Actions for Damages for Infringements of Competition Law, which transposes into Cyprus law the provisions of Directive 2014/104/EU on certain rules governing actions for damages under national law for infringements of the competition law provisions of the member states and of the European Union. |
Sustainability and Competition Global Practice Guide
Τhere is no explicit reference to ESG measures/sustainability agreements in the relevant competition laws in Cyprus.
We are not aware of any imminent new regulations on this topic.
No.
No.
There is no official mechanism for prior consultation with or seeking guidance from the NCA with regard to proposed ESG initiatives.
The NCA has not issued any guidelines or any other announcement regarding this matter.
Cyprus being an EU member state follows EU competition law and relevant EU regulations, which are directly applicable thereto, as well as EU directives, which are transposed into national law.
The NCA would therefore rely on any applicable EU Block Exemption Regulations.
We are not aware of any such precedents.
Law No 113(1)/2017 on Actions for Damages for Infringements of Competition Law, which transposes into Cyprus law the provisions of Directive 2014/104/EU on certain rules governing actions for damages under national law for infringements of the competition law provisions of the member states and of the European Union.