TAIPEI (TVBS News) — The Taiwan Carbon Solution Exchange (TCX) launched its first international carbon credit transactions on Friday (Dec. 22), with credits sourced from regions across Asia, Africa, and South America.
The inaugural trade event drew the interest of nearly 30 companies, including Taiwan Semiconductor Manufacturing Company (TSMC), Foxconn, China Steel Corporation, and Taiwan Financial Holding, all of whom were keen to participate.
The initial batch of credits available on the Taiwan Carbon Exchange is estimated to range from 50,000 to 100,000 tons. The Gold Standard, an international independent body, has certified these credits.
Once companies procure these credits, they cannot be resold on the carbon exchange platform. At present, no "expiry date" is set for these credits, and each company's individual needs will determine their use.
These products are currently considered to have international "voluntary" carbon rights and are not products under "mandatory" carbon pricing. Therefore, they cannot be used to offset Europe's Carbon Border Adjustment Mechanism (CBAM).
