Taiwan has officially launched its carbon pricing initiative, the Taiwan Carbon Solution Exchange (TCX), facilitating its first international carbon credit trades. The inaugural trades involve seven countries across South America, Asia, and Africa, featuring diverse project types like renewable energy, biogas power plants, and clean water sources. Notably, a major transaction involved 6,257 tons of carbon credits from a Taiwanese seller, Sacurn Carbon, derived from a Kenyan biogas project. The TCX's introduction empowers Taiwanese companies to pursue climate goals, achieve emissions reduction targets, and transition from buyers to sellers, challenging the traditional buyer-centric model. Tien Chien-Chung, General Manager of TCX, emphasizes the varying demand for carbon credits among companies and underscores the imperative for Taiwan's industries to engage with international carbon markets to address the nation's high carbon intensity.

Source: Carbonherald