Taiwan plans to introduce carbon pricing mechanism

As long as the Greenhouse Gas Act amendments proposed by the Environmental Protection Agency (EPA) are approved at the next session, the carbon pricing mechanism that charges large emitters will be designed on the basis of the EU’s new carbon bill. -Chin (Kei Hariko) said yesterday.

At a meeting of the Economic Committee of the Parliament, Mr. Chan said that the revision of the Greenhouse Gas Reduction Management Law (Kimuro Kiyo Weight Reduction Management Law) (renamed to the Climate Change Law and scheduled for the latter half of this month) has a carbon pricing mechanism. He said it would be included. , With the net zero goal of 2050.

If the amendment is approved by the Legislative Yuan in the next session, the EPA will draft detailed regulations that are likely to come into effect in 2023.

Given the EU’s proposed carbon border adjustment mechanism, which aims to reduce carbon emissions by 55% by 2030, Taiwan will lose its bargaining power in trade negotiations with the EU, so the establishment of a carbon pricing mechanism will be indefinite. Chan added that it cannot be delayed.

The proposal plans to begin by billing companies that emit more than 25,000 tons of carbon annually. This will account for 80% of Taiwan’s total carbon emissions.

SMEs are not included in the early stages, but a valuation system will be established to help reduce carbon emissions and mitigate adverse effects.

The price range has not yet been finalized, but the EPA is following global trends and is in contact with stakeholders to find the best solution for Taiwan, Chang said.

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