Taiwan has set its sights on playing a role in green energy systems to slash carbon emissions – and profit from the massive transition to cleaner power over coming decades.
The country plans to ramp up research and development on renewables, “smart grids” and energy storage equipment, President Tsai Ing-wen said on Friday.
“Long-term carbon reduction relies on new technologies to produce more breakthroughs,” Tsai said at a sustainability forum to mark Earth Day on Friday.
“Taiwan‘s industries are export-oriented. We need to break into the global green supply chain,” she said.
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.
Hydrogen, Thermal Power, Carbon Capture
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, 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.
• Reuters with additional editing by Jim Pollard
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