Deputy Minister of the Ministry of Economic Affairs, Zeng Wensheng (曾文生), stated that by 2040, renewable energy generation, including offshore wind and solar power, could reach 170 billion kilowatt-hours. In the global energy transition trend, Taiwan is accelerating the development of renewable energy. Currently, the highest percentage of renewable energy sources is represented by offshore wind power and solar photovoltaics, which are relatively mature technologies. However, geothermal power in Taiwan, with its abundant reserves, is considered a rising star in this field and has great development potential. Taiwan relies on imports for 98% of its energy, making self-sufficiency and diversification…

The European Union’s Carbon Border Adjustment Mechanism (CBAM) and the U.S. Clean Competition Act (CCA) are set to be implemented next year, and there is high external interest in the progress of domestic carbon fee collection in Taiwan. Taiwan will announce and establish the carbon fee rate in early 2024, conduct a review of carbon emissions in 2024, and start collecting carbon fees in 2025 based on the review results. In other words, around 500 regulated companies in Taiwan will pay their first carbon fees in 2025, based on their emissions in 2024. This schedule aligns with the European Union’s…

The European Union’s Carbon Border Adjustment Mechanism (#CBAM) system was announced in May of this year and is set to be implemented in October, with official implementation expected by 2026. The “Taiwan Carbon Solution Exchange,” (TCX) jointly funded by the Taiwan Stock Exchange Corporation and the National Development Fund, Executive Yuan, was officially established on August 7th. At first, the focus will be on “carbon consulting,” while domestic carbon credit trading will only commence once the domestic carbon credit trading subsidiary law is confirmed. The details of future carbon fee collection and carbon credit trading will undoubtedly become a focal…

Workshops to aid Sectors establish Reporting Capabilities In response to the draft regulations for the transitional period of the Carbon Border Adjustment Mechanism (CBAM) proposed by the European Commission, the Taiwan’s Ministry of Economic Affairs (MOEA) is seeking opinions from the industry and its experts. This is to address potential issues in the future and to voice concerns through the European Union’s public consultation website. In the name of Taiwan’s MOEA, efforts are being made to clarify the declaration details and advocate for the rights of the companies that will be subject to CBAM starting in October. Furthermore, workshops will…

Science and technology program to facilitate national net-zero emissions Source: Department of Information Services, Executive Yuan At the Cabinet’s weekly meeting Thursday, Premier Chen Chien-jen received a National Science and Technology Council briefing on a program promoting science and technology to transition toward net-zero carbon emissions. The premier said new breakthroughs in science and technology will be key in determining whether Taiwan can reach its long-term goal of net-zero emissions by 2050. He instructed related ministries and agencies to work together to promote the research, development and application of net zero-related science and technologies. Achieving the goal of net-zero emissions…

Towards the net-zero emissions goal by 2050 Don’t miss TASS 2023 Sustainable Taiwan Expo Climate change is an urgent issue and the biggest challenge that the world is facing today. As Taiwan plays a crucial role in the global supply chain, various industries urgently need to face the demand for net-zero due to government and supplier pressure. With diverse ESG solutions, they are committed to net-zero transformation while balancing the sustainable development of the economy to create sustainable business opportunities. Since its establishment in 2020, TASS Sustainable Taiwan Expo has become the most influential MICE platform on sustainability and circular…