ECCT Welcomes Passage of Greenhouse Gas Reduction Act
Since 2008, members of the ECCT have been calling for action to reduce Taiwan's CO2 emissions. Recommendations to set targets, draw up and implement policies that would reduce carbon emissions have been set out in the position papers of the ECCT's Energy & Environment committee every year since then. In every position paper since 2011, the Energy & Environment committee has specifically advocated the passage of the Greenhouse Gas Reduction and Management Act.
The act specifies a target for Taiwan's carbon emissions to be capped at 50% of the 2005 level by 2050. This implies that emissions would be cut from 251 metric tonnes in 2005 to 122.5 million metric tonnes by 2050. In contrast, countries in the EU target a 40% reduction in GHG emissions by 2030 compared to 1990 levels.
The act also stipulates that a national action plan for climate change and implementation measures for cutting greenhouse gases should be established within one year. Under the act, businesses are to be assigned an annual quota of carbon emissions. Firms exceeding caps can purchase the rights to additional emissions from those with unused credits. The first stage of the act's enforcement would focus on calculating the maximum permissible amounts of emissions granted to each firm and ensuring that companies upload their emissions data accurately.