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Cyprus is located in a hot spot as regards climate change and is projected to face significant temperature increases and decline in rainfall levels. As a result, the country is expected to be faced with serious challenges in agriculture, water resources, biodiversity, forests, energy demand, coastal zones and human health. The extent to which such effects will affect the society and economy of Cyprus depends crucially on policies to be implemented in the frame of a national adaptation strategy. Mitigation and adaptation policies should be closely linked and can offer synergies for coping with climate change. For this purpose, proactive actions need to be taken by both the public and the private sectors. Adequate monitoring mechanisms should be set up in order to provide much needed data which can send early warnings to policy makers and the public and can help avoid large natural and economic damages at a later stage. Enabling private adaptation investments and properly pricing the use of natural resources in the frame of a well-designed environmental fiscal reform are key priorities for investing in a climate resilient economy.