The National Development Council said Dec. 19 that all relevant government agencies will work hand in hand to implement a carbon pricing system set to take effect in 2025, following a briefing by the Ministry of Environment on the new policy measure.
According to three regulations drafted by the MOENV in August this year, during the initial stage the fees will be levied on about 281 power and gas suppliers and manufacturing firms that emit the equivalent of more than 25,000 tons of carbon dioxide per year. Starting Jan. 1, 2025, entities must calculate their annual greenhouse gas emissions and pay their carbon fees by the end of May the next year.
Compared to the standard fee of NT$300 (US$9.18) per ton, there are also preferential rates to entities that submit self-determined reduction plans that include strategies such as a switching to low-carbon fuels, adopting negative emission technology, improving energy efficiency, using renewable energy or enhancing industrial processes.
The NDC said the system aims to reduce carbon emissions and drive net-zero transition for Taiwan’s industrial sector. If all relevant entities submit self-determined reduction plans, the NDC expects collective carbon emissions to be cut by 37 million tons by 2030, which will help achieve Taiwan’s intended nationally determined contribution of carbon emissions.
To this end, the MOENV has held seven briefings on carbon fee regulations and organized seminars with local governments throughout the country. The NDC said more measures are in the pipeline to enhance public consensus and bring Taiwan’s regulations in line with global standards, so that the system will play a key role in driving green growth for a better future for all.
Source: Taiwan Today (https://taiwantoday.tw/index.php)
