In a significant stride towards environmental responsibility, the Ministry of Environment (MOENV) of Taiwan has unveiled draft regulations governing domestic carbon credit trading. This marks the commencement of a 60-day public consultation period, underlining a commitment to transparency and public involvement.
View of Shifen Waterfall, the largest curtain-type waterfall in Taiwan.
The regulations, published ahead of the debut of international carbon credits on Taiwan's Carbon Solution Exchange (TCX) on December 22, outline the framework for trading. The 60-day public comment period starting immediately encourages stakeholders to contribute to shaping the regulatory landscape.
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Trading on the TCX platform, established in August, will involve set-price trading, auctioning, and negotiated trading. Sellers engaged in voluntary emissions reduction projects, and buyers, compelled by the Climate Change Response Act, are pivotal players in this exchange.
The unit of trade is a metric ton of carbon dioxide equivalent (CO2e), with emissions converted based on global warming potential. An interesting feature of the regulations is that once carbon credits are traded and transferred, they cannot be re-traded or re-auctioned, closing potential loopholes.
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Government oversight is evident through the MOENV's authority to set a floor or cap price as needed. This discretionary power aims to prevent drastic market fluctuations, ensuring stability and discouraging unwarranted speculation.
In line with our overarching vision, DGB Group proudly leads in the creation of high-quality carbon credits resulting from nature-based solutions, dedicated to preserving and revitalizing our invaluable natural ecosystems. Our initiatives extend beyond carbon mitigation, delivering a multitude of supplementary environmental and socio-economic advantages. Committed to pioneering efforts in reforestation, afforestation, biodiversity restoration, and community empowerment, our focus remains on crafting a meaningful and enduring influence. This holistic approach not only ensures a positive transformation but also generates premium carbon credits, reinforcing our commitment to sustainability and excellence.
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