TAIPEI (TVBS News) — Minister of Environment Peng Chi-ming (彭啟明) announced on Monday (Sep. 2) a new carbon fee policy, warning that the government will fine companies for failing to report their emissions accurately. Peng made the statement during a speech at the Southern Taiwan Leadership Institute of Education (南方領袖教育學院).
Peng revealed that the Financial Supervisory Commission (金融監督管理委員會) will audit publicly listed companies following the carbon fee's introduction. Companies must set carbon reduction targets, as reducing carbon emissions is no longer just a slogan, he added.
Environmental groups criticized the government for offering too many incentives to high-emission companies. Peng responded that the rate will gradually increase, which is the approach every country adopts when setting a carbon fee.
He acknowledged the difficulties in implementing the carbon fee, with businesses unhappy about the charges, environmental groups wanting higher costs, and the public fearing price hikes. However, he emphasized that carbon pricing is a significant milestone for Taiwan in addressing international climate change issues and hoped for a unified public consensus on climate action.
The policy will affect around 500 companies, including 141 publicly listed firms, which account for approximately 54% of the nation's total carbon emissions.
