Sustainable Bond Framework
Green Project Case Study: Restoring the environment at Amiantos mine
Environmental Restoration at abandoned asbestos mine
in Troodos mountain
Aim: Work to restore the environment to its natural state at the
site of an abandoned asbestos mine and prevent possible pollution
from the old mine.
Description: The objective of the project is to contribute to
halting loss of biodiversity through improvement of restoration and
management practices in the Amiantos asbestos mine, part of the
Troodos National Forest Park, and a major part of the most valuable
mountain landscape of Cyprus. The ultimate aim is to improve
restoration practices, in terms of efficiency and conformity to EU
Directives and to broaden their scope to sufficiently address
biodiversity conservation and landscape improvement aspects.
Restoration works around the abandoned mine first began in 1995.
Potential Uses of Proceeds:
✓ Identification and remediation of contaminated sites
✓ Investment in restoration techniques to be executed by experts, staff
training and standardisation of new methods through relevant guides
✓ Other measures supporting restoration of the area, e.g. construction of
an artificial pond in the mine's crater, planting hygrophilous trees,
hydroseeding and responsible management of mine waste
Beneficiaries:
✓ Communities surrounding the Troodos National Forest Park
Achievements/timeline:
✓ Restoring environment and biodiversity to its natural state. Project
started in late 90's and expected not to be completed before 2030.
eligible expenses are €2 mln
ICMA Green Bond Principles Category:
Pollution Prevention and Control
Before:
Indicative Impact metrics
Certified area covered (ha)
Water quality
Erosion levels
After:
GOOD HEALTH
AND WELL-BEING
Quantitative measures to improvements in biodiversity (e.g. number
of species supported)
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