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 be conducted to assist industries under CBAM regulation in understanding the declaration rules, ensuring compliance with the submission of the first CBAM report at the end of January 2024.
Taiwan, as an export-oriented economy, closely links foreign trade to overall economic development. The Ministry of Economic Affairs attaches great importance to the impact of the European Union’s CBAM on exporters. Considering that CBAM-regulated products include fasteners and aluminum products primarily from small and medium-sized enterprises, the MOEA has aggregated opinions on the European Union’s CBAM consultation platform. Taiwan is one of the few countries to provide opinions under the government’s name (alongside Australia, South Korea, Brazil, South Africa, Turkey, and Thailand).
Facing the global trend towards net-zero by 2050, the Ministry of Economic Affairs will continue to monitor the development of international carbon regulatory standards, provide timely information to industries and assist them in preparation, all to enhance Taiwan’s international competitiveness.
The CBAM will affect global trade development. “TASS 2023 Sustainable Taiwan Expo” is a professional exhibition to bring the international industry and Taiwan’s sectors closer to achieve the goal of sustainability. It brings together innovative ideas for net zero emissions, provides integrated solutions for sustainable supply and circular economy, connects the supply chain, creates targeted business opportunities for exhibitors and promotes a sustainable development. Facing the challenge of CBAM, TASS 2023 Sustainable Taiwan Expo will work with you towards net zero.
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