Ministry urges firms to step up decarbonization‘HIGHLY CHALLENGING’: New EU rules aim to create a greener supply chain, but proposed tariffs could ban Taiwanese products with large carbon footprintsBy Angelica Oung / Staff reporterTaiwanese companies need to work on decarbonizing or risk being “excluded from the supply chains of the future,” the Ministry of Economic Affairs said yesterday. The EU in July announced the Carbon Border Adjustment Mechanism (CBAM), under which products produced with a large carbon footprint would face tariffs starting in 2026, Kiang said. Photo: Lin Ching-hua, Taipei TimesThe law’s primary goal is to prevent products with large carbon footprints from competing with those with low footprints made in the EU. “More important than the direct export of goods to Europe, [Taiwanese businesses] need to take notice of the carbon requirements of major international companies,” Kiang said. “By refining our procedures, we can create a lower-carbon or even eventually zero carbon steel.

Source: Taipei Times October 01, 2021 15:56 UTC