Intellasia East Asia News – Taiwan to invest in green energy, smart grids to reach net-zero emissions goal

Taiwan President Tsai Ing-wen said on Friday the government will focus on research and development in green energy, smart grids and energy storage equipment in its push to cut carbon emissions.

“Long-term carbon reduction relies on new technologies to produce more breakthroughs,” Tsai said at a sustainability forum to mark Earth Day.

“Taiwan’s industries are export-oriented. We need to break into the global green supply chain,” she added.

Taiwan said last year it intended to achieve net-zero emissions by 2050 and the government has pledged to spend NT$900 billion ($30.7 billion) by 2030 towards that end.

This week, the cabinet approved a draft amendment of climate legislation that includes the 2050 net-zero goal and the introduction of a carbon pricing scheme.

Tsai said that by 2050, renewable energy should account for more than 60 percent of Taiwan’s power supply, while hydrogen should account for around 10 percent and thermal power generation with carbon capture around 20%.

By comparison, in 2020, coal provided 45 percent of Taiwan’s electricity while liquefied natural gas provided around 36%, government data shows.

Foxconn (2317.TW), the world’s largest contract manufacturer and a major Apple supplier, said on Friday it also aims to have net-zero emissions by 2050 and plans to use “at least 50 percent green power” by 2030.

($1 = 29.2810 Taiwan dollars)


Category: Taiwan

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