It looks like you’re browsing from Netherlands. Click here to switch to the Dutch →
The Taiwan Carbon Solution Exchange (TCX) Chairman, Sherman Lin, revealed exciting news during the Net-Zero Taiwan International Summit, hosted as part of the Energy Taiwan 2023 exhibition. Lin announced that the TCX anticipates making international carbon credits available for purchase by the end of December this year, surpassing the availability of domestic carbon credits.
Landscape view of Thousand Island Lake, New Taipei, Taiwan.
Domestic carbon credit trading is contingent upon the commencement of carbon fee collection, which is not projected to be initiated until 2025.
In contrast to the traditional cap-and-trade system adopted by the EU, Taiwan's approach focuses on carbon fees and voluntary emissions reductions. Under a cap-and-trade system, industries operate within a predefined emissions cap and must purchase credits if they exceed their allowance. The TCX, which launched in August, supports companies in carbon disclosure.
Lin, also serving as Chairman of the Taiwan Stock Exchange (TWSE), emphasised that pricing carbon emissions can incentivise low-carbon technology innovation and foster startups dedicated to these innovations. He noted the role of the Taiwan Innovation Board (TIB) in supporting innovative startups with innovative technologies through the capital market. The TIB, introduced by the TWSE in 2021, aims to enable technology-focused companies to secure long-term funding through the capital market.
Furthermore, the TCX recently signed an agreement with the British Standards Institution to establish certification programmes for carbon credit exchange professionals in Taiwan. Completion of these programmes and successful examination results will grant individuals certification to undertake carbon-credit-related tasks in listed companies and institutions in Taiwan. This collaboration with internationally renowned institutions is expected to streamline the current information disorder in Taiwan's carbon credit exchange system.
Meanwhile, the Ministry of Environment (MOENV) affirmed that the carbon fee rate will be determined by a review committee in the first quarter of 2024. This clarification followed Vice Premier Cheng Wen-tsan's statement regarding an anticipated carbon fee rate of 320 New Taiwan dollar (approximately $10) per metric tonne, made during the Energy Taiwan 2023 event on 18 October.
DGB Group, dedicated to developing large-scale nature-based solutions, firmly believes that nature-based credits are the linchpin to realising a viable net-zero future while safeguarding our invaluable ecosystems. By tapping into nature's potential, we can unveil innovative solutions that not only tackle environmental issues but also bolster biodiversity preservation. Through our premium nature-based projects, we can strike a balance between human advancement and environmental guardianship, charting a course towards a sustainable and flourishing planet. Let us unite on this transformative path, adopting nature-based solutions as the cornerstone of our environmental strategies.
As DGB Group, our sole purpose is to rebuild trust and serve the public by making the right information available to everyone. By subscribing to our mailing newsletter, you can get the latest tips and trends from DGB Group's expert team in your inbox. Sign up now and never miss the insights.
Hong Kong's government has taken a significant step in the financial world by issuing 6 billion Hong..
Tesla Inc. has once again showcased its financial prowess, this time through its lucrative carbon cr..
This week marks a significant milestone for Nigeria as Vice President Senator Kashim Shettima is set..
Singapore is on the brink of a green investment revolution, with its carbon credit market forecasted..