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President Tsai Ing-wen announced: Preparing to establish a carbon trading platform

Updated: Dec 1, 2023

President Tsai Ing-wen attended the New Year’s Eve dinner hosted by the American Chamber of Commerce in Taiwan on the 19th. In her speech, she emphasized that carbon finance is the key to achieving the goal of energy supply stability and diversity. The stock exchange, the National Development Fund and the Environmental Protection Agency will cooperate to discuss the establishment of a "carbon trading" Platform". The establishment of this platform will help international cooperation to achieve carbon reduction goals.


Tsai Ing-wen attends the New Year dinner of the American Chamber of Commerce in Taiwan every year. This year, AIT Chairman Rosenberg attended the meeting for the first time. Our government officials include National Security Council Secretary-General Gu Lixiong, Presidential Secretary-General Lin Jialong, Executive President Chen Jianren, Economic Minister Wang Meihua, National Development and Reform Commission Chairman Gong Mingxin and other officials attended the meeting, and more than 800 American businessmen in Taiwan attended.


Tsai Ing-wen emphasized that the government will be committed to taking concrete actions to improve the business environment. It is now working hard to achieve the goal of solar photovoltaic installation capacity reaching 20GW and offshore wind installation capacity reaching 5.6GW by 2025. In the photovoltaic part, the feeder capacity will be increased by 5.5GW. We also establish platforms between central and local governments to speed up administrative procedures.


Tsai Ing-wen also announced for the first time that China will establish an independent carbon trading platform to achieve carbon reduction goals. President Tsai stressed that she was pleased to learn from the Chamber of Commerce’s survey report that in order to cooperate with Taiwan’s goal of net-zero carbon emissions in 2050, 56% of member companies have officially committed to implement net-zero carbon emissions or similar goals.


The Environmental Protection Agency yesterday also confirmed that Taiwan will establish its own carbon rights exchange. Officials from the National Development Council said that the National Development Fund plays the role of an investor, but the specific amount is still under discussion and cannot be disclosed. Clear results are expected in the first half of the year.


Officials from the National Development Council pointed out that there are two considerations for establishing a carbon rights exchange. First, domestic small and medium-sized enterprises have always expressed their hope for carbon rights cooperation opportunities, but it is difficult for small and medium-sized enterprises to apply abroad as individual companies. Therefore, the government intervenes to help small and medium-sized enterprises. Supply chain and ESG. Secondly, we hope to strengthen international cooperation by establishing a carbon rights exchange.


Officials from the National Development Council said that Tokyo, London, Singapore and other countries all have carbon rights exchanges. The establishment of carbon rights exchanges in the country in the future will make carbon reduction no longer just a pressure and responsibility, but a new financial method. Promote mutual flexibility and accelerate international cooperation.


Cai Lingyi, director of the Environmental Protection Agency's Office of Climate Change, explained that although carbon reduction actions are still domestically reduced, companies continue to receive responses from international supply chains and customers who will require them to purchase carbon rights to achieve carbon neutrality.


Therefore, in the "Climate After the Change Response Act passed its third reading in February, a working group formed by the Environmental Protection Agency, the Securities and Futures Bureau of the Financial Supervisory Commission, and the stock exchange has been actively discussing it.


Tsai Ling-yi pointed out that the Environmental Protection Agency will be responsible for the regulations, while the Securities and Futures Bureau and the stock exchange will start to establish the Taiwan Carbon Exchange.


Retrieved April 24,2023 from,https://www.ctee.com.tw/news/20230420700292-430104

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