TAIPEI (Taiwan News) — The Taiwan Institute of Economic Research (TIER) said Friday (July 15) it had signed an agreement with the global electronics association SEMI to promote energy conservation standards.

The accord, concluded on June 22, would result in the promotion of standards set by the S23 guide for the conservation of energy, utilities, and materials used in the design and manufacturing of semiconductors, CNA reported.

The two organizations will cooperate on promoting improvements benefiting the production process and on sharing research, according to TIER, one of Taiwan’s top economic think tanks.

As Taiwan imports more than 90% of its energy, the Bureau of Energy under the Ministry of Economic Affairs launched the use of “best available techniques” for large-scale investment projects in 2015.

The new agreement would improve energy efficiency even further and cut carbon emissions in the production of semiconductors, TIER said, emphasizing the crucial role Taiwan’s electronics chip sector plays in global supply chains.