2024 presidential candidate and sitting Vice President Lai Ching-te (賴清德) has proposed creating a new platform to help develop technological innovations needed to achieve the goal of reaching net-zero carbon emissions by 2050. Lai announced the proposal at the Taiwan Future International Summit on Thursday morning.
The proposed platform would help develop innovations in geothermal power, ocean energy, smart grid infrastructure, and energy storage, says Lai.
Vice President Lai said that the government plans to invest NT$900 billion (US$29 billion) before 2030 to meet the 2050 deadline. He said the government will continue to call for further participation from the public, and is establishing a carbon exchange for the trading of carbon credits.
Lai says that the government should assist small and medium-sized enterprises as they adapt to the new regulations, as there are more than 1.5 million small to medium-sized enterprises in Taiwan which provide 90% of all jobs.
Lai adds that emissions goals can act to boost innovations needed to solve problems, as well as enhance Taiwan’s industrial growth and economic transformation.