The best kind of energy is conservation, President William Lai (賴清德) said yesterday, adding that Taiwan is willing to address climate challenges jointly with China and other countries.
Climate change poses challenges to national resilience and sustainable development, with Typhoon Krathon — which made landfall in Kaohsiung earlier this month — a prime example, Lai told the second meeting of the National Climate Change Committee.
Taiwanese must work together to build up national resilience against such challenges, and Taiwan would be “willing to bolster cooperation with China and other countries to deal with climate change,” he said.
Photo: CNA
While the 2015 Paris Agreement requires countries to update nationally determined contributions (NDCs) every five years, the 26th session of the Conference of the Parties (COP26) to the UN Framework Convention on Climate Change has increased the frequency to every two years to expedite the global carbon-reduction process, Lai said, adding that the next NDC submission date is early next year.
To ensure stable and resilient energy supply, policies and measures revolving around “the second energy transition” would be implemented, including a carbon-fee program launched this month and to be implemented from next year, he said.
The government would promote in-depth energy conservation and applications of energy-storage technology to facilitate the energy transformation, as well as the development of next-generation industries, Lai said.
More renewable energy and green growth opportunities would be explored to steadily move toward the net zero goal by 2050, he added.
Taiwan plays a pivotal role in the global technology supply chain and must step up climate action to boost its international industrial competitiveness, as well as develop NDCs in line with international trends, Lai said.
Stable power supply is the cornerstone of Taiwan’s economic development, as it would attract foreign investments to support the domestic industrial ecosystem, he said.
“The best energy comes from energy saving,” Lai said, adding that energy conservation is more efficient than developing electric power sources and one of the most effective carbon reduction strategies.
To boost energy efficiency is an international consensus and trend, considering that COP28 last year set a goal to double the global average annual rate of energy efficiency improvements to 4 percent from 2 percent by 2030, he said.
The government would continue to implement energy-saving policies and encourage in-depth energy conservation across all industries, Lai said.
From high-carbon emissions companies to hospitals, schools, families and individuals, everyone is required to take part in the in-depth energy conservation campaign along with the government to form a strong team, he added.
Energy service companies (ESCo) would also be a crucial part in the program, as they could formulate highly cost-efficient energy saving plans tailored to each company, Lai said, adding that government funds would be allocated to incentivize or subsidize investments in industrial energy conservation.
The government would collaborate with insurance companies to establish ESCo mechanisms to provide funding for companies to advance equipment and manufacturing processes, he said.
While lower electricity fees would benefit investors, insurance premiums would be invested into national infrastructure, forming a circular economy, Lai said.
As long as everyone works together to make the energy transition reality, Taiwan would be able to seize the opportunity of ensuring sustainable growth for generations to come, he said, adding that the government would follow the examples of the UK and Japan to accelerate net zero carbon emissions.
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