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Taiwan Expresses Willingness to Contribute to Climate Change Fund

by Richie
12/11/2023
in Corporate Social Responsibility, Sustainability & Ethics

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Despite being excluded from the COP28 climate summit, Taiwan has expressed its readiness to contribute to the new climate damage fund established at the United Nations Climate Change Conference in Dubai. The fund is aimed at compensating vulnerable countries in the Global South for damages they have suffered due to climate change.Environment Minister Shieu Fuh-Sheng of Taiwan shared with VOA on the sidelines of the summit that Taiwan recognizes its responsibility in addressing climate change, given its high per capita emissions. The country, with significant reliance on fossil fuels, is keen to contribute to global efforts in combating climate change.Despite its small size and a population of 23.9 million, Taiwan’s emissions surpass those of larger emitters like China, Japan, and the European Union. As a response, Taiwan feels a strong sense of responsibility to contribute to international efforts, similar to the United Arab Emirates, which pledged $100 million to the loss and damage fund.

Minister Shieu mentioned that Taiwan is prepared to fulfill its climate responsibilities and contribute to the loss and damage fund if included in the discussions. He highlighted Taiwan’s existing efforts in climate finance, including a $1 million contribution to the Marshall Islands for climate adaptation and $500,000 to Hawaii for wildfire relief.

Taiwan’s participation in COP28 was limited, with many officials, including Minister Shieu, barred from key negotiation areas. Despite this, Taiwan’s diplomatic allies, including Belize and the Marshall Islands, advocated for its inclusion in the U.N. climate framework. China, however, protested this move, reiterating its claim over the democratically ruled island.

Minister Shieu emphasized the importance of treating climate change and sovereignty as separate issues, noting that climate change requires global collaboration and affects everyone on the planet. The exclusion of territories like Taiwan and Puerto Rico, according to climate scientist Isatis Cintron, hinders the pursuit of climate justice.

Chia-Wei Chao of the TCAN think tank stressed that Taiwan, as a significant per capita emitter, has climate responsibilities and should expand its climate finance contributions. Under the “Taiwan Can Help” campaign, Taiwan seeks to offer technological support in adaptation, early warning systems, and disaster prevention.

Taiwan’s own green plan, the Climate Change Response Act, aims for net-zero emissions by 2050. However, its exclusion from U.N. recognition complicates the monitoring of its progress. Chao also pointed out the challenges and opportunities in Taiwan’s semiconductor industry’s transition to renewable energy, highlighting the need for Taiwan’s active participation in setting global rules for greening industries.

Catch the latest supply chain news at The Supply Chain Report. Learn more about international trade at ADAMftd.com with free tools.

#TaiwanClimateAction #COP28 #ClimateJustice #ClimateFinance #ClimateChange #GlobalCollaboration #TaiwanCanHelp #NetZero2050 #GreenEnergy #SustainableFuture #ClimateAdaptation #LossAndDamageFund #FossilFuelDependency #ClimateResponsibility #SemiconductorTransition

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