Taiwan’s climate adaptation capabilities play major role in global climate governance
Date
11/13/2024 4:12:13 AM
(MENAFN) Taiwan's Environment Minister, Peng Chi-ming, emphasized on Tuesday that the island's climate adaptation capabilities can play a crucial role in global climate governance. As a major Economy and a hub for technological innovation, Taiwan’s expertise in renewable energy, climate adaptation, and low-carbon technologies can greatly contribute to global efforts to address climate change, Peng stated in a written message. He highlighted that climate change has had a significant global impact, and Taiwan, as part of the international community, faces its own challenges in this regard.
Peng outlined Taiwan's plan to tackle these challenges with a comprehensive climate strategy, which includes implementing a carbon pricing system. One key aspect of this strategy is the launch of three major funds aimed at stimulating the development of green industries. Notably, the NTUSD10 billion (approximately USD308 million) Green Growth Fund will be central to this initiative. Additionally, Taiwan is planning to establish an emissions trading system within the next four years and introduce a carbon fee system set to take effect in 2025.
The Minister also emphasized the government’s broader climate strategy under President Lai Ching-te’s administration, which includes a second energy transition designed to accelerate the use of renewable energy sources such as geothermal, hydrogen, biomass, and ocean energy. Taiwan is also focusing on promoting a green and digital transformation across industries and encouraging a shift toward net-zero lifestyles, reflecting the government's long-term commitment to sustainability.
Further supporting Taiwan's climate goals, the government has set up a National Climate Change Committee to address climate issues from a national development perspective. This committee is focused on seven critical areas, including sustainable finance and adaptive resilience. Taiwan's legal commitment to climate action was also solidified with the recent incorporation of its 2050 net-zero emissions target into law through the Climate Change Response Act. Peng concluded that Taiwan aims to participate actively in global climate action by strengthening its domestic policies and systems.
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