Government efforts to push for net zero emission by 2050 are expected to raise investments and eventually boost the country’s annual GDP growth by 0.56 percentage points on average, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said yesterday.
To achieve the net zero goal, the government plans to spend almost NT$900 billion (US$30.76 billion) through 2030, which is expected to create business opportunities for the private sector, Kung told an environmental summit in Taipei on Earth Day titled “100 Re-Actions! The Solutions for Our Earth.”
Kung said that he was upbeat and forecast that the involvement of the public and private
Russia’s invasion of Ukraine has left European governments scrambling to ensure that their energy needs will be met. Germany the no 1 buyer of Russian gas in recent years is said to be reconsidering a commitment to close down its last few nuclear power stations at the end of this year, while a political deal made late last year to phase out coal by 2030 may well unravel. Several smaller economies, among them Bulgaria and Finland, are even more dependent on Russian gas than Germany.
Taiwan isn’t so exposed. Last year, 14.7 percent of the coal burned in Taiwan
The National Development Council (NDC) would soon present a road map for Taiwan to achieve net-zero emissions, NDC Minister Kung Ming-hsin (龔明鑫) told lawmakers yesterday.
Kung told a meeting of the legislature’s Economics Committee that a blueprint for achieving net-zero emissions by 2050 would be made public by the end of this month and would lay out Taiwan’s future energy mix.
It would also include proposals for revising laws and regulations to facilitate efforts to reduce greenhouse gas emissions, as well as measures to promote new technologies, such as electric vehicles, he said.
Kung did not provide any other details on the plan.
A sharp increase in oil prices caused by the war between Russia and Ukraine is adding pressure to inflation in Taiwan and could dent GDP growth, top-ranking officials said yesterday.
Inflation would rise 0.5 to 0.7 percentage points higher this year if international crude oil prices climb to US$110 a barrel, from US$85 in February, central bank Deputy Governor Yen Tzung-ta (嚴宗大) said, adding that the trend would also weigh on GDP growth by 0.3 to 0.4 percentage points.
Yen was answering questions from lawmakers at a meeting of the legislature’s Economics Committee.
The central bank would review its monetary policy at its
The government has proposed a budget of NT$180 billion (US$6.47 billion) for the fourth phase of the Forward-looking Infrastructure Development Program, the National Development Council said on Tuesday.
The proposed budget would be spent next year and in 2024. It would be reviewed by the council by the middle of this year before the funds are allocated, it said.
The budget would cover a wide range of infrastructure projects such as green energy, Angstrom-level semiconductors, the Internet of Things, artificial intelligence and cybersecurity, the council said.
The funds would also be used to narrow the gap between urban and rural areas in the