Chinese Taipei passes the Climate Change Response Act
Climate Change Response Act to Charge Carbon Fee on High-Emission Firms
A by-product of the COVID-19 pandemic has been a greater focus on our general quality of life, and that has prompted a renewed interest in environmental, social and corporate governance (ESG).
Picking up on this, corporations and governments alike have introduced ESG policies in recent months. In line with these developments, and in order to establish a sustainable environment for climate change and achieve net-zero carbon emissions by 2050, Chinese Taipei passed the Climate Change Response Act on 10 January 2023.
The most critical policy element of the act is to charge a carbon fee on businesses with high carbon emissions, both directly and indirectly. At the initial stage, companies with emissions above 25,000 tons will be charged a carbon fee. According to statistics, around 537 companies will be impacted.
More regulations related to carbon footprint verification, registration and carbon fee collection will be announced soon.
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