Energy

Taiwan to invest in green energy, smart grids to reach net-zero emissions goal

Smoke billows over a plastics factory in New Taipei City, Taiwan March 20, 2017.REUTERS/Tyrone Siu/

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TAIPEI, April 22 (Reuters) – Taiwan President Tsai Ing-wen said on Friday the government will focus on research and development in green energy, smart grids and energy storage equipment in its push to cut carbon emissions.

“Long-term carbon reduction relies on new technologies to produce more breakthroughs,” Tsai said at a sustainability forum to mark Earth Day.

“Taiwan’s industries are export-oriented. We need to break into the global green supply chain,” she added.

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Taiwan said last year it intended to achieve net-zero emissions by 2050 and the government has pledged to spend NT$900 billion ($30.7 billion) by 2030 towards that end.

This week, the cabinet approved a draft amendment of climate legislation that includes the 2050 net-zero goal and the introduction of a carbon pricing scheme.

Tsai said that by 2050, renewable energy should account for more than 60% of Taiwan’s power supply, while hydrogen should account for around 10% and thermal power generation with carbon capture around 20%.

By comparison, in 2020, coal provided 45% of Taiwan’s electricity while liquefied natural gas provided around 36%, government data shows.

Foxconn (2317.TW), the world’s largest contract manufacturer and a major Apple supplier, said on Friday it also aims to have net-zero emissions by 2050 and plans to use “at least 50% green power” by 2030.

($1 = 29.2810 Taiwan dollars)

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Reporting by Sarah Wu; Editing by Edwina Gibbs

Our Standards: The Thomson Reuters Trust Principles.

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