Minister of Environment Peng Chi-ming (彭啓明) said today that his ministry has begun to discuss cap and trade regulations and plans to impose a stricter cap than the current self-determined reductions.
At an event held by the non-profit organization Business Council for Sustainable Development in Taipei, Peng said that Taiwan's carbon rights regulations have been advancing slowly, and he is working to change this.
The Ministry of Environment (MOENV) is discussing cap and trade regulations in the coming year, and would use nearby countries such as Japan and South Korea as references, Peng said.
Photo: Taipei Times
Relevant regulations are to be discussed and amended, as it involves the deployment of carbon assets, Peng said, adding that the MOENV would invite firms with a reputation for excellence — especially those that need international carbon rights — to work together and form an alliance.
With carbon reduction expenses in Taiwan ranging from NT$3,000 to NT$30,000 per tonne, Peng said a better carbon-trading mechanism could help Taiwan identify its carbon asset values.
Taiwan's carbon fee system would take effect this year, meaning that imposed entities would have to pay their carbon fees according to their 2025 emissions in May next year, according to the Regulations Governing the Collection of Carbon Fees.
The MOENV on Saturday announced that large emitters could start to apply for their self-determined reduction plans.
Peng anticipated that the value of carbon would be reflected in green finance after the collection of carbon fees.
Meanwhile, regarding US President Donald Trump's pledge to bring back plastic straws, Peng said that Taiwan would not follow suit.
Peng said that Taiwan's measures to reduce plastic straws and plastic use are good and would be continued.
The minister claimed that paper straws made in Taiwan do not melt or split open, but acknowledged that the use of per and polyfluorinated alkyl substances (PFAS) is a problem that needs to be addressed.
PFAS are "forever chemicals" that may be harmful to human health, according to the US Environmental Protection Agency.
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