TAIPEI (Taiwan News) — Minister of the Environment Peng Chi-ming (彭啓明) took part in a seminar on climate action hosted by the Green Citizen’s Climate Alliance on Friday.
The theme was Taiwan’s path to achieving carbon neutrality by 2035. During his remarks, Peng discussed the complexities and uncertainty of setting and achieving net zero goals, reported UDN.
Peng said that Taiwan probably needs to reconsider the focus on ESG. He criticized the idea of companies seeking to cash in on carbon credit trading schemes and related business trends.
Peng noted that Taiwan is about 10% off of its carbon reduction goal for 2025. Hoping to course-correct, Taiwan has increased its Self-Determined Carbon Reduction Plan for the years ahead.
In August, the target was a 24% reduction in greenhouse gases by 2030. This has been revised to a more ambitious 28%.
Some have expressed skepticism that the government has not drafted any industrial policies to achieve such a goal. Peng, meanwhile, acknowledged that calculations are not scientifically accurate because developments in industry, carbon reduction technology, and other factors make projections uncertain, per UDN.
Peng stressed the government still aims to achieve net-zero status, but there are too many uncertainties to establish a strict road map to meet the goal by 2035. Therefore, Taiwan’s current goal for carbon reduction by 2030 includes a margin of error of plus or minus 2%.
The government has proposed a scheme for introducing carbon reduction quotas, fees, and credits for industries. However, on Friday Peng acknowledged that, in the short term, Taiwan’s electricity needs may outpace the government’s ability to implement these plans.
Encouraging business growth while also working to constrain carbon-heavy industries makes fiscal planning an uncertain process, Peng said. The environment ministry is working closely with the Ministry of Economic Affairs to grow the economy while also trying to incentivize reduced electricity consumption.
Peng said he remains committed to environmental protection, but the pressure to achieve carbon targets can sometimes be overwhelming. He pointed to ESG, noting that the excessive enthusiasm for carbon reduction goals should be curtailed.
“Carbon reduction is the goal, but it should not cause a panic,” he said, per UDN.
