Businesses that include more than 25% of recycled materials in their products can receive a 15% discount on recycling fees. That's according to Taiwan's Environmental Protection Agency on Wednesday.
The agency says there will be an amendment to an environmental sustainability policy draft that will formalize this discount. It says this policy direction is a key strategic step in Taiwan's 2050 net-zero carbon emissions goal.
The agency says this financial incentive will encourage businesses to use recycled materials in their products. It says the policy will first emphasize recycled plastic among the different materials.
The agency says it is targeting electronics, such as television sets, air conditioners, washing machines, fridges, fans, and other appliances. It adds the policy will be implemented for two years starting in July.
The agency says it will monitor the effectiveness of the new policy and propose other measures to incentivize more sustainability efforts. Meanwhile, products with government-approved recyclable labels already receive a small discount.