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Taiwan Officially Enters the Carbon Pricing Era to Promote Emission Reductions

Updated: Oct 2, 2024

The MOENV Minister Peng Chih-Ming (middle) announced the three carbon fee sub-laws


The Ministry of Environment (MOENV) in Taiwan has announced three key regulations under the Climate Change Response Act, officially introducing a carbon pricing system to promote carbon reduction a carbon reduction. These regulations include: (1) the Regulations Governing Carbon Fee Collection, (2) the Regulations for Voluntary Carbon Reduction Management Plans, and (3) the Designated Greenhouse Gas Reduction Goals for Entities Subject to Carbon Fees.

The carbon fee system applies to large emitters in industries like electricity and manufacturing, with entities required to report emissions annually and pay carbon fees by the following May. A voluntary reduction plan allows companies to seek preferential rates if they meet set emission reduction goals by 2030 through measures like energy efficiency improvements and low-carbon technologies. The system aims to cut 37 million metric tons of CO2e by 2030.

To encourage compliance, the government offers incentives, including offsets using reduction credits. Additionally, a public Green Points program encourages environmentally friendly actions among citizens. The regulations reflect Taiwan’s commitment to achieving net-zero emissions and fostering green growth.


Source: Major Environmental Policies, September 2024 p.1-3 https://reurl.cc/8X70Oy

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