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Geothermal energy holds significant potential for Taiwan’s 2040 goal to reach 170 billion kilowatt-hours of renewable energy

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…

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First collect of carbon fees scheduled for 2025 in Taiwan!

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…

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In response to the international Carbon Border Adjustment Mechanism (CBAM), Taiwan local governments act up.

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…

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Taiwan’s MOEA helps Industry with the EU’s CBAM Consultation Platform

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…

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Attendee Analysis at TASS 2022

According to Attendee Analysis at TASS Sustainable Taiwan Expo 2022, the top 5 industries represented were: Renewable energy, Electrical and electronic industries, Academic research and public associations, Petrochemical/Rubber and plastic/ Textile, and Consulting services. The top 5 positions held by Visitors were Manager, Director, Engineer, Chairman, and Consultant, which shows a high-degree of authority and decision-making. Click here to download the TASS2022 visitor list. Since its establishment in 2020, TASS Sustainable Taiwan Expo has become the most influential MICE platform for sustainable supply and circular economy in Taiwan. Through the exhibition, forum and business exchange, it creates unique value, bringing…

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Taiwan Ministry of Environmental Protection Announces Management Measures for Voluntary Greenhouse Gas Reduction Projects

To achieve the net-zero emission target, Taiwan Ministry of Environmental Protection has drafted a ” Management Measures for Voluntary Greenhouse Gas Reduction Projects” in accordance with Article 25 of the Climate Change Response Act. The “voluntary reduction mechanism” is also known as the “carbon credit offset mechanism” and the “reduction quotas” referred to the internationally known “carbon credits”. The proposed management measures consist of three points:1. Compliance with international standards to ensure a transition to net-zero. The draft emphasizes that reduction projects should adhere to the principles of measurability, verifiability, and reportability (MRV).2. Providing standardized methods and improving the efficiency…

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Taiwan Carbon Exchange to Establish Presence in Kaohsiung Software Park

In order to align with the national policy goal of achieving net-zero emissions by 2050 and address the needs of carbon reduction and offsetting for businesses, the Taiwan Stock Exchange and the National Development Fund will jointly invest in the establishment of the “Taiwan Carbon Exchange.” It is expected to complete the registration process in the middle of this year (2023). It has been approved by the Export Processing Zone Administration Ministry of Economic Affairs, to settle in the Kaohsiung Software Park. The Taiwan Carbon Exchange will establish the headquarter in Kaohsiung while settle its information center in Taipei. Its…

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