Taiwan is set to pass a new carbon tax and trading scheme as the country moves towards net-zero emissions.
On Wednesday the legislature’s social welfare committee started deliberating over the new policy. Some lawmakers fear the negative effects new carbon regulations will have on small and medium sized enterprises.
Speaking at the legislature, Environmental Minister Chang Tzi-chin says that the new policy will affect larger entities first.
Chang explained that large businesses who pollute the most will be targeted by carbon pricing first. Smaller businesses will then be taxed according to their respective carbon outputs under a more flexible system.
Chang added that companies who create their own emission reduction plans could also get preferential rates if regulators approve those plans.
If passed, the proposed scheme would start in 2024.