The Taiwan Carbon Solution Exchange (TCX) has listed its first green carbon project, and expects it to generate carbon credits for 10,000 tonnes of carbon.
The newly listed project is an afforestation initiative in eastern Paraguay, a diplomatic ally of Taiwan, and carbon credits for the project are available for purchase, the TCX said in a statement on Monday.
However, the TCX provided no other details regarding the nature of the project or how far along it is.
Photo courtesy of the Taiwan Carbon Solution Exchange
The exchange said it was crucial for Paraguay to receive support to develop and protect its forests, as well as to promote carbon reduction initiatives, because its forest cultivation regulations are underdeveloped.
A significant share of Paraguay’s land is also used for cattle and soy farming, the TCX said.
Beef has the biggest carbon footprint of any food, Greenpeace Taiwan has said.
Soy cultivation contributes to carbon emissions and deforestation in many South American countries, including Paraguay, the World Wildlife Fund says.
The green carbon project is the second nature-based solution to comply with international carbon neutrality standards, such as ISO 14068-1, and to be listed on the exchange, the TCX said.
The first nature-based solution — a blue carbon project involving mangroves in Myanmar — was launched in June, it said.
Nature-based solutions “are actions to protect, sustainably manage and restore natural and modified ecosystems in ways that address societal challenges effectively and adaptively, to provide both human well-being and biodiversity benefits,” the International Union for Conservation of Nature says.
Green carbon and blue carbon projects are different types of nature-based solutions. Green carbon refers to carbon stored by terrestrial ecosystems, mainly land-based vegetation such as forests, while blue carbon refers to carbon stored in marine and coastal ecosystems.
The two nature-based solution projects were established in accordance with Ministry of Environment regulations and TCX’s operational procedures, and would be analyzed by researchers at Taiwanese universities, the exchange said.
The TCX was set up in August last year and began trading carbon credits in December. It is Taiwan’s only certified exchange for trading on international voluntary carbon markets.
Separately, the Ministry of Environment (MOENV) said yesterday that it expects sales of domestic carbon credits on the TCX to begin by late September or early October.
The MOENV gave the timeline following the public release of regulations on the trade and transfer of domestic carbon credits from voluntary emission reduction projects set to be introduced on Aug. 15.
MOENV Climate Change Administration Deputy Director-General Huang Wei-ming (黃偉鳴) said the estimate was based on the time needed to complete administrative procedures.
“We can only commission the TCX to be the trading platform with the regulations in place, and time is needed for our system on emission reduction to coordinate with the TCX’s trading system,” he added.
Under the regulations, the TCX will be the only certified platform for the trade and auction of domestic carbon credits.
According to the MOENV, the regulations, including the ban on private brokerage, consignment or trade of domestic carbon credits, guarantee trade security and ensure transparency.
Information about the credits, such as project type and duration of the monitor, will be coded to ensure the effectiveness of the credits for trade, auction, and use (for carbon offset) and to prevent “greenwashing,” the ministry said.
Only sellers who have had their emission reduction projects overseen by the government will be permitted to auction or sell domestic carbon credits, it said.
The buyers will be limited to those allowed to acquire carbon credits to offset their emissions under Article 26 of the Climate Change Response Act (氣候變遷因應法), including those who emit more than 25,000 metric tons of carbon dioxide equivalent per year and are scheduled to be charged with carbon fees later this year.
In addition, buyers will be banned from reselling traded or auctioned domestic carbon credits on the TCX to “ensure market stability,” the ministry said.
STILL COMMITTED: The US opposes any forced change to the ‘status quo’ in the Strait, but also does not seek conflict, US Secretary of State Marco Rubio said US President Donald Trump’s administration released US$5.3 billion in previously frozen foreign aid, including US$870 million in security exemptions for programs in Taiwan, a list of exemptions reviewed by Reuters showed. Trump ordered a 90-day pause on foreign aid shortly after taking office on Jan. 20, halting funding for everything from programs that fight starvation and deadly diseases to providing shelters for millions of displaced people across the globe. US Secretary of State Marco Rubio, who has said that all foreign assistance must align with Trump’s “America First” priorities, issued waivers late last month on military aid to Israel and Egypt, the
‘UNITED FRONT’ FRONTS: Barring contact with Huaqiao and Jinan universities is needed to stop China targeting Taiwanese students, the education minister said Taiwan has blacklisted two Chinese universities from conducting academic exchange programs in the nation after reports that the institutes are arms of Beijing’s United Front Work Department, Minister of Education Cheng Ying-yao (鄭英耀) said in an exclusive interview with the Chinese-language Liberty Times (the Taipei Times’ sister paper) published yesterday. China’s Huaqiao University in Xiamen and Quanzhou, as well as Jinan University in Guangzhou, which have 600 and 1,500 Taiwanese on their rolls respectively, are under direct control of the Chinese government’s political warfare branch, Cheng said, citing reports by national security officials. A comprehensive ban on Taiwanese institutions collaborating or
France’s nuclear-powered aircraft carrier and accompanying warships were in the Philippines yesterday after holding combat drills with Philippine forces in the disputed South China Sea in a show of firepower that would likely antagonize China. The Charles de Gaulle on Friday docked at Subic Bay, a former US naval base northwest of Manila, for a break after more than two months of deployment in the Indo-Pacific region. The French carrier engaged with security allies for contingency readiness and to promote regional security, including with Philippine forces, navy ships and fighter jets. They held anti-submarine warfare drills and aerial combat training on Friday in
COMBAT READINESS: The military is reviewing weaponry, personnel resources, and mobilization and recovery forces to adjust defense strategies, the defense minister said The military has released a photograph of Minister of National Defense Wellington Koo (顧立雄) appearing to sit beside a US general during the annual Han Kuang military exercises on Friday last week in a historic first. In the photo, Koo, who was presiding over the drills with high-level officers, appears to be sitting next to US Marine Corps Major General Jay Bargeron, the director of strategic planning and policy of the US Indo-Pacific Command, although only Bargeron’s name tag is visible in the seat as “J5 Maj General.” It is the first time the military has released a photo of an active
RSS