ECCT Low Carbon Initiative (LCI) Event

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-Carbon pricing strategy of Taiwan: path to global net zero roadmap
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「台灣碳定價策略：邁向全球淨零」 論壇

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Date: Tuesday, 24 May 2022
Time: 13:30-17:50 (Reception at 13:30)
Format: Online 
Organizers: Green Peace 綠色和平; ECCT Low Carbon Initiative (LCI) 歐洲商會- 低碳倡儀行動; Business Weekly 商業周刊
Co-Organizer: European Economic and Trade Office 歐洲經貿辦事處

Due to the rising pandemic, this forum has been shifted to the virtual format. The livestream link of the forum will be posted on ECCT Facebook and Linkedln on 24 May by 10 am. Feel free to join us LIVE.

On 24 May, the ECCT's Low Carbon Initiative (LCI), Green Peace, and Business Weekly will organize the "Carbon pricing strategy of Taiwan: path to global net zero roadmap" forum. This event is supported by the European Economic Trade Office (EETO).

Taiwan on 30 March has announced the Net Zero Roadmap by 2050, and will be soon launching in May the Climate Change Response Act  氣候變遷因應法 that includes Taiwan's carbon fee mechanism setting carbon levies for emission sources. Now in the globe, carbon emissions are often not priced at all or priced differently depending on the country or region. This has created an uneven playing field across territories and industries, which means there is less incentive for some countries to reduce emissions. The International Monetary Fund (IMF) has put forward a framework to introduce an International Carbon Price Floor (ICPF) that proposes different price points for emissions for economies at different stages of development to incentivise greater participation. A report by PwC and the World Economic Forum shows how global carbon pricing could pay for itself while cutting emissions by 12%.

As part of EU’s efforts to cut greenhouse gas emissions, the EU’s Emissions Trading System (ETS) is being strengthened. The revised EU ETS Directive, which applies to the period from 2021-2030, will enable an increase the pace of emissions cuts and reduce the overall number of emission allowances. In addition, the Carbon Border Adjustment Mechanism (CBAM) will be implemented in 2026 after a three-year transition period and will initially apply to five industry sectors initially (electricity production, aluminium, iron and steel, cement, and fertilizer).

At this event, our guest speakers from the World Bank, World Economic Forum, Taiwan Executive Yuan, Environmental Protection Administration (EPA), LCI members and partners will provide an overview of global trends and strategies towards the goal of net zero, with a special focus on the role of carbon pricing and give an update on Taiwan’s pending legislation and how both global and local trends will affect corporations in various industry sectors.

Agenda