By Yasin Gungor
ISTANBUL (AA) - Taiwan’s climate adaptation capabilities can significantly aid global climate governance, Environment Minister Peng Chi-ming said Tuesday.
“As a major economy and a hub for technological innovation, Taiwan’s capabilities in renewable energy, climate adaptation, and low-carbon technological innovation can be of great help to global climate governance,” Peng said in a written statement, referring to the process of decision-making and action at the international and national levels to manage the global climate system and address climate change.
He underscored that climate change has greatly affected countries around the world, and Taiwan, as a member of the international community, also faces "serious challenges" in this area.
Peng said Taiwan plans to adopt a comprehensive strategy that includes a carbon pricing system and will launch three major funds to stimulate the development of green industries, including a NT$10 billion ($308 million) Green Growth Fund.
The plan also includes launching an emissions trading system in the next four years and establishing a carbon fee system that will take effect in 2025, he said.
- Comprehensive climate strategy
Peng also highlighted Taiwan’s comprehensive climate strategy under President Lai Ching-te’s administration, including a second energy transition aimed at accelerating the development of renewable energy sources such as geothermal, hydrogen, biomass and ocean energy.
The nation is also pushing for a green and digital transformation across industries alongside a shift to net-zero lifestyles, Peng said.
The minister highlighted that Taiwan established a National Climate Change Committee to tackle climate issues from a national development perspective. The body focuses on seven key areas, including sustainable finance and adaptive resilience, he said.
The initiatives follow Taiwan's recent incorporation of its 2050 net-zero emissions target into law through the Climate Change Response Act.
"Taiwan will participate in global climate action through enhanced domestic policies and systems,” Peng added.