Taiwan to discuss its own version of CBAM

Taiwanese industry representatives believe that the authorities should follow the example of Europe’s CBAM and develop their own version of the mechanism to avoid harming local industry from importing carbon-intensive products. CNA reported.

Environment Minister Peng Qi-Ming said details on the mechanism will not be announced until mid-2025. The ministry will discuss the issues with the ministries of economy and finance. In addition, Taiwan has approached EU and Japanese regulators for coordination to ensure that the country’s carbon levy is in line with the parties’ regulations.

Peng Qi-Ming also noted – in examining the ESG reports of enterprises, it appeared that they are more determined to reduce carbon emissions than the government’s plans. Some of them plan to cut emissions by 40% by 2030, exceeding the national target of about 24%.

The Ministry of Environmental Affairs on Oct. 7 approved a carbon fee rate of NT$300 ($9.32) per ton with concessionary rates set for certain emission sources.

As GMK Center reported earlier, the Malaysian government is considering imposing a carbon price exclusively for the steel industry, said Vice Chancellor for External Affairs at Taylor’s University Ong Kian Ming. According to the scientist, this is one of the active discussions. If the country succeeds in this move, it will pave the way for the possible introduction of carbon credits for other sectors of the economy as well.