Taiwan has inaugurated a carbon exchange to align with its goal of achieving net-zero emissions by 2050 and to address international scrutiny. The exchange aims to counterbalance carbon-intensive imports and meet global emission concerns. President Tsai Ing-wen highlighted the European Union's Carbon Border Adjustment Mechanism (CBAM), which imposes levies on high-emission products imported into the EU. The Taiwan Carbon Solution Exchange will encourage carbon reduction and promote low-carbon technology development. Initially focusing on carbon consultancy services, the exchange plans to collaborate with similar platforms worldwide in the future. A carbon credit trading system will be established after further regulations are developed.

Source: SarawakTribune