Taiwan eyes green technology investment to reach net-zero emissions
- Research and development of renewable energy, smart grids and storage seen as a way to break in to global green supply chain
- Tsai Ing-wen tells Earth Day forum long-term carbon reduction relies on breakthroughs from new technologies
Speaking at a sustainability forum to mark Earth Day, Tsai said 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. Taiwan’s industries are export-oriented. We need to break into the global green supply chain,” she said.
Taiwan has pledged to spend NT$900 billion (US$30.7 billion) by 2030 on its path towards net zero.
This week, the cabinet approved a draft amendment to 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 per cent of Taiwan’s power supply, while hydrogen should account for around 10 per cent and thermal power generation with carbon capture around 20 per cent.