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Taiwanese Premier Wu Calls for Cap-And-Trade System (Update1)
2010-09-02 10:13:15.526 GMT
(Updates with Ma's gas reduction goal in third paragraph.)
By Yu-huay Sun
Sept. 2 (Bloomberg) -- Taiwan's Premier Wu Den-yih has
urged the island's Environmental Protection Administration to
plan for the introduction of a cap-and-trade system on
greenhouse-gas emissions to help reduce pollution.
The EPA should coordinate with lawmakers to facilitate the
passage of a proposed law that would set the framework for
emissions trading, the Cabinet said in an e-mailed statement in
Taipei today. President Ma Ying-jeou, who took office in May
2008, has pledged to cut emissions to 2000 levels by 2025.
The Cabinet sent the Greenhouse Gas Reduction Bill to the
Legislative Yuan in October 2008 for review. The proposed law
may conflict with plans by CPC Corp. and Formosa Plastics Group
to expand oil refineries and ethylene plants that would increase
carbon-dioxide emissions by 20 percent, according to former
lawmaker Wang To-far.
"They are only paying lip service," Wang said by
telephone today. "Where's the progress?"
Kuokuang Petrochemical Technology Co., a venture led by
state-owned CPC, plans to build a 300,000 barrel-a-day refinery
and an ethylene plant to compete with rival Formosa Plastics,
which is seeking government approval to expand its chemical
plants in Mailiao, western Taiwan.
The industrialized island releases about three times more
heat-trapping gases per person than the world average, according
to data compiled by Bloomberg.
For Related News and Information:
Taiwan's energy statistics: NRGM TAIW <GO>
Top energy news: ETOP <GO>
Surveys on Taiwan's economic data ECO TA <GO>
Top environment stories: GREEN <GO>
Global emissions data: EMIS <GO>
--Editors: Amit Prakash, Ryan Woo.
To contact the reporter on the story:
Yu-huay Sun in Taipei +886-2-7719-1531 or
ysun7@bloomberg.net
To contact the editor responsible for this story:
Amit Prakash at +65-6212-1167 or
aprakash1@bloomberg.net.
